Eliviat Group Acquires 5-Acre Development Site In Middletown For $2.49M

The Eliviat Group LLC has acquired a development site located at 79 Smith Rd. in Middletown, New York. The property spans approximately five acres and was purchased for a total sale price of $2,490,000. The transaction was completed on 04/29/2022.

Summary of transation details

• Property Type: Development Site
• Transaction Amount: $2,490,000
• Address: 79 Smith Rd., Middletown, New York
• Market: Middletown
• Asset Type: Development Site
• Acres: 5

The Eliviat Group LLC, represented by Eli Attias & David Friedman, purchased the property from Pyramid Management Group. This acquisition marks the future location of a new 224-unit market rate residential complex named "The Galleria Residences." The Eliviat Group LLC has been working closely with Pyramid Management Group, the town's planning department, and the county for approximately two years to obtain the necessary approvals for this development.

Last month, the Town Board of Wallkill, NY approved the site plans for the construction of the residential living units. The project is estimated to cost $45,000,000 and is scheduled to break ground in September 2022. The expected completion date for "The Galleria Residences" is June 2024.

Additional information can be found on @EliviatGroup.