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$20m tag on Staten Island properties listed by M&M.

Marcus & Millichap Real Estate Investment Brokerage Company recently listed the Kreischerville Active Adult Community and Kreischer Mansion, contiguous properties on Staten Island in New York City, for $20 million.

Victoria Guthrie and Richard Helfand of the firm's Manhattan office have been retained to represent the seller of the properties.

"The Kreischerville Active Adult Community has been approved by the New York City Department of City Planning and is being sold subject to building permits that should be issued in a few months," comments Guthrie. "The Kreischer Mansion has been rezoned for commercial/residential usage, and is a unique property with special historic and aesthetic qualities." The Kreischerville Active Adult Community is designed for adults 55 years and older and would be ideal either as condos or rentals. Situated on 4.76 acres, the property will feature 120 condominium units with 180 parking spaces, outdoor pool, fitness center and on-site clinic. The entire project will encompass 207,760 s/f.

The property, located 40 minutes from Manhattan, is near Woodbridge Mall and a new shopping center.

The Kreischer Mansion is a two-and-one-half-story Victorian historic landmark designed in 1880.

The 4,239 s/f building is situated on 1.2 acres and has 2,000 feet of corner frontage overlooking the entire Hudson Valley.
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Title Annotation:Marcus & Millichap Real Estate Investment Brokerage Co., Kreischerville Active Adult Community and Kreischer Mansion
Publication:Real Estate Weekly
Article Type:Brief Article
Geographic Code:1U2NY
Date:May 18, 2005
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