Harborview Properties I LLC acquires 87-Unit Residences at Tarryhill Community located in White Plains/Greenburgh, New York

November 16, 2016

PRESS RELEASE

WHITE PLAINS, NEW YORK: 11-16-2016

The Residences at Tarryhill, an 87-unit apartment community located at 100-600 Tarryhill Way in the White Plains-Greenburgh vicinity has traded hands for the first time since they were built in 1996. A Westchester-based real estate partnership acquired the property on November 15, 2016 in an all cash transaction.

HarborView Properties I LLC, a new limited liability partnership and an affiliate of Harborview Properties was formed to acquire the Residences at Tarryhill. The partnership includes Dale and Lynn Kaufteil of Harborview Properties, a real estate investment and management company based in Larchmont.

The Residences at Tarryhill is a planned community built on an 8-acre site which was formerly the site of a public elementary school. Today the site is home to the thoughtfully designed 87-unit apartment community in six two and one-half story buildings. They are set into natural grades with three of the buildings around a sunken plaza formed by the cellar of the school which previously occupied the site. The Residential character is achieved with entrance porticos, picket fences and lamp posts. Expansive lawns and landscaping dominate the site; well-located sitting areas encourage congregating. Other amenities include a number of sports courts. Tarryhill is the recipient of the American Institute of Architects Honor Award for Recognition of Architectural Excellence.

According to Mr. Kaufteil, the acquisition was over three years in the making. "The deal began as an informal conversation with one of Tarryhill's former owners and original builders of the project. The conversation continued for three years until we were finally able to come to terms. The property was sold off-market".

The property is slated as a long-term hold and will be managed by Harborview's leasing and managed by its affiliate the Tarryhill Management Company.

For further information contact:

Dale Kaufteil
Harborview Properties I LLC
dba Tarryhill Management Co.
To discuss this or other potential acquisitions call 914-834-4488.