Orange County, N.Y. Rental Community Takes Shape
The Point at Sutton Hill in Middletown Reports Strong Leasing and Development Activity.
- (1888PressRelease) February 04, 2011 - MIDDLETOWN, N.Y. - The Point at Sutton Hill, the newest phase of the Sutton Hill rental community in the Orange County town of Middletown, is quickly taking shape with a flurry of development and leasing activity being reported.
Five buildings consisting of 52 apartments at the new collection of 112 upscale rental homes are completed and fully rented, according to Value Companies, which is the owner/developer/manager of The Point.
As a result, Value Companies has decided to release the next building of 12 homes much earlier than expected. 25% of the apartments in the new building - which is expected to be ready for occupancy in early spring - have already been reserved.
"We've experienced a very quick lease up with every new rental phase we've released and that trend is continuing with our latest apartment building," says Jack Linefsky, Vice President of Property Management for the Value Companies. "So much so, we've been forced to accelerate our leasing and development program by releasing these latest homes and starting construction on an additional 48 apartments months ahead of schedule."
The Point at Sutton Hill features state-of-the-art one-, two-and three-bedroom garden-style homes in ten residential buildings. Homes range from 773 to 1,234 square-feet with monthly rents ranging from $1,200 to $1,795.
The Point at Sutton Hill differentiates itself thanks to a host of modern features in each apartment home such as a washer and dryer, individually controlled central air and heat, fully equipped kitchens with GE appliances including a microwave, dishwasher, and icemaker, and spacious walk-in closets.
The Point at Sutton Hill is the second stage of the overall development plan for the community. In addition to new rental homes in The Point, Value Companies has repositioned the existing Sutton Hill community of 276 apartment homes.
Improvements include the addition of an on-site fitness facility, updated exteriors, upgraded tennis courts and improvements and additions to the common areas.
"Aside from the existing fitness center, pool and tennis, racquetball and basketball courts, we will also be completing the installation of a new playground this spring," Mr. Linefsky points out.
Sutton Hill is in close proximity to major transportation outlets such as Routes 17 and 84, providing a quick commute to White Plains and Westchester County, as well as public trains and buses that bring Manhattan a 90-minute commute away. Shopping is also easily accessible at the nearby Galleria Mall at Crystal Run and Woodbury Commons.
For additional information on The Point at Sutton Hill, please call (845) 343-2272 or email suttonhill ( @ ) valuecompanies dot com dot
About Value Companies
Value Companies, founded in 1952, is a leading real estate development, investment and management company headquartered in Clifton, N.J. The company currently owns and manages a portfolio of 3,800 residential units located throughout New Jersey, Pennsylvania, New York, Texas and Florida.
Across its development division, Value Companies has embarked on $100 million in new apartment, condominium and mixed-use developments and investments in strategic suburban and urban locations throughout the country. Value's development success is directly tied to its steadfast commitment and expertise in multifamily housing, and its ability to introduce new housing products that address consumer and community needs.
Value's residential properties are built and managed by a highly-skilled, in-house management team of more than 80 industry professionals which oversee all aspects of Value's communities, including construction, leasing, maintenance, property management and administration. Value's third-party management business, Value Asset Management, provides full-service management capabilities and customized asset solutions to a growing list of third-party real estate investment and property owner clients.
For more information, please contact Andrew Abramson, President of Value Companies, at its corporate headquarters at 973-473-2800 or visit www.valuecompanies.com.
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