BridgeCity Lends $83M on Hudson Valley Townhouse Condo Project
By Andrew Coen January 23, 2025 1:52 pm
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Upscale Developers has sealed $83 million of construction financing to build condominium development in New York’s Hudson Valley, Commercial Observer can first report.
BridgeCity Capital provided the two-year loan on the developer’s planned second phase of a 256-unit townhouse condo project at 63-77 Acres Road in Monroe, N.Y. The first phase of the development, about 50 miles north of Manhattan in Orange County, consisted of 273 condos that sold out “exceptionally quickly,” according to BridgeCity.
“We are confident that Upscale Developers’ exceptional team will deliver another outstanding project, bringing elegant living to this thriving and insulated market,” Louis Lebovits, CEO at BridgeCity, said in a statement.
Horizontal development of the project is complete and vertical construction is now underway, according to BridgeCity. The new condos are slated to be delivered in late 2026.
Officials at Upscale Developers did not immediately return a request for comment.
Andrew Coen can be reached at acoen@commercialobserver.com
