GFI Realty Services arranges sale of 134 Innis Avenue

GFI Realty Services has arranged the sale of 134 Innis Avenue in Poughkeepsie, NY for $35.3 million. The 288-unit garden apartment complex spans 150,156 square feet, and features a mix of 187 one-bedroom units, 97 two-bedroom units, and four three-bedroom units. Both the buyer and seller are local investors. 

• Worth Noting: GFI Realty’s Associate Director Josh Orlander represented the seller, while the firm’s Sylvia Spielman represented the buyer.

• Heard on the Street: Josh Orlander: “This was an off market deal and we were able to identify the right buyer for this well-maintained stable cash flowing asset. The property is also ideally located within minutes from downtown Poughkeepsie and in close proximity to I-87 and Routes 9 and 155.” Spielman added, “Poughkeepsie is undergoing a revival spurred by rezoning intended to boost residential development. The buyers recognized the value of acquiring an asset in this market during this period of resurgence.”