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Rye Village - Executive Summary
•Milton Point is pleased to present for sale the Leasehold Interest in Rye Village, a meticulously maintained brick garden style complex located at 150 Theodore Fremd Ave., 160 Theodore Fremd Ave., and 125 Central Ave. in Rye, NY.
•The property is comprised of eight buildings containing 104 units (1 studio, 38-one bedrooms, 17-two bedroom/one baths, 20-two bedroom/two baths, 19-three bedroom duplexes, 7-four bedroom duplexes, and 2 offices) totaling 135,325 square feet.
•The complex was built between 1957 and 1962. Situated on two parcels separated by Central Ave., the site is a total of 6.51 acres. There are 141 surface parking spaces, 41 rentable garages, 43 rentable climate controlled self-storage units, off-street parking, two playgrounds, and laundry facilities in each building under a lease with Hercules.
•The lease is a triple net lease. There are 40 years remaining on it with an expiration date of September 30, 2065. Fee ownership of the property has been in the same family for over 50 years.