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Business

by Westchester County Business Journal
by WCBJ

AVR Realty expanding its riverside community in Dutchess County

Overlook Pointe on the Hudson River in the town of Fishkill. Photo by Bob Rozycki.

AVR Realty Co. of Yonkers is looking to expand its community that it created along the banks of the Hudson River in the form of Overlook Pointe, part of The Waterfront at Fishkill development of condos and townhomes.

Construction began in 2011 on an overgrown site of what once was Brockway Brickyards, a small company town with a store, school and a post office. Brockway was a thriving manufacturer that sent its product, bricks, harvested from the gray-blue clay along the banks of the Hudson that when fired in a kiln turned red, on barges up to Albany or down to New York City. Today, as AVR Realty looks to finish selling its remaining stock of housing from a group of 24 new waterfront condominiums, it’s looking ahead to a second phase of construction this year. This current group of one- to three-bedroom homes, priced from $350,000 to $500,000, was the most recent addition to The Waterfront at Fishkill, which includes 48 units – condos and townhomes – that were built in 2014.

The site map for the next phase of construction.

The 52-acre site, which stretches from Route 9D near Dutchess Stadium down to the river, began with 103 single-family homes at Streamside Knolls and 180 townhomes at Holly Ridge.

Overlook Pointe – three buildings with a total of 24 units – opened in late fall of 2018. On a breezy April afternoon, Sales and Marketing Manager Susan Curtin gave the Business Journal a tour of the remaining condos.

“We’re 50 percent sold for the current phase,” Curtin said. “We hit the market at the right time. It’s working out really well.”

The tour begins in a two-bedroom furnished loft named Bannerman, a nod to the island castle just south of Beacon. (Each of the names of the units – Clermont, Boscobel, Springwood, Caramoor and Sunnyside – are of local historic significance.) Even on a cloudy day, the oversize windows that overlook the river light up the living room, which has a cathedral ceiling. The condo has a master bedroom with bath, second bedroom, second bathroom, dining room, loft, utility closet, deck and a garage.

The features of the units include oak hardwood floors, granite countertops, stainless steel appliances and Kohler fixtures.

The “neighborhood amenities” include a seasonal swimming pool, tennis court, riverwalk trail and a clubhouse featuring a lounge, gourmet kitchen, game room and fitness center.

Although it has a Wappingers Falls mailing address, the development is in the town of Fishkill, the Beacon School District and the Rombout Water District.

“It’s a unique thing to explain to people,” Curtin said, “that’s why we call it The Waterfront at Fishkill.”

Susan Curtin in the living room of the Bannerman condo. Photo by Bob Rozycki.

As to who AVR Realty is marketing to as far as buyers, Curtin said it’s not one specific demographic.

“The kind of person looking for this kind of home is mostly empty nesters, some retired, some still working, some snowbirds,” she said. “But also some buyers are young people, young singles, young couples. Maybe it’s their first home, but they’re not ready for maintaining a yard and a home, but they want the benefits of homeownership.” Maintenance costs $249 a month.

Curtin added, “There are people that are in certain life stages, maybe divorced, so they’re not empty nesters or first-time homebuyers and maybe they don’t have children.”

With the Metro-North Railroad station about three miles away in Beacon, the development is also suitable for commuters to New York City.

Thomas Perna, director of land development for AVR Realty, said, “We are encouraged by a very strong housing market in the Hudson Valley, especially Dutchess County where home values have increased by 6% over last year with demand strong and inventory low.  It is an ideal time to offer new construction townhomes as demand in the market continues to grow due to low mortgage interest rates.”

This development, which will be built on a rise near the existing swimming pool, will be “traditional townhomes.”

“We’re going to do a lot of masters (bedrooms) on the main floor, two-car garage, mostly two bedroom, some three bedrooms, or an optional third bedroom in the walkout basement. We think those are probably the most desirable floor plans,” Curtin said. “We’ll have some river views up on the ridge and some will be farther back with no river view. But they’ll all be priced accordingly.”