CALLING ALL MULTIFAMILY INVESTORS. OFFERS ARE DUE NO LATER THAN 5:00 PM EST ON THURSDAY, OCTOBER 8, 2026. QUALIFIED BIDS REQUIRE AN EXECUTED CONFIDENTIALITY AGREEMENT AND A COMPLETED RAND COMMERCIAL SALES BID DOCUMENT.
Summary:
Rand Commercial is pleased to present One Five on Washington, a brand-new, 60-unit luxury multifamily community at 15-19 Washington Avenue in Suffern, New York. Delivered in 2023/24 and 95% occupied, the property is 100% free-market with no rent regulation, a rare profile in the New York metro. In-place net operating income is available on request with an average rent of $3,094 per unit, backed by a full amenity package and structured parking, one block from Suffern Station and its one-seat and connecting rail service to Manhattan. This is turnkey, institutional-quality cash flow in one of Rockland County's most supply-constrained, high-barrier submarkets. Detailed financials, rent roll, and the offering memorandum are available upon execution of the confidentiality agreement.
Investment highlights:
100% free-market, zero rent regulation. No HSTPA exposure and full control of rents and operations, a scarce attribute in New York multifamily.
Brand-new 2023 construction.
Minimal near-term capital and a modern unit spec that commands top-of-market rents.
Stabilized in-place income at 95% occupancy, average in-place rent $3,094 per unit.
Institutional amenity package: Two-story marble lobby, fitness center, resident and game lounges, rooftop terrace with grilling and valley views, pet spa, structured parking, and private storage.
Transit-anchored location. Under half a mile to Suffern Station; immediate access to Route 17, I-287, and I-87 / NYS Thruway.
Affluent, supply-constrained submarket. A built-out village core limits new competition and supports durable rental demand.
Property description:
One Five on Washington (Washington Mews) is a 60-unit, Class A multifamily community built in 2023 at 15-19 Washington Avenue in the Village of Suffern, Rockland County, New York. The unit mix is 2 studios, 32 one-bedrooms, and 26 two-bedrooms across roughly 65,000 square feet on a 1.36-acre site, zoned MR-50.
Every residence is finished to a luxury standard: high-gloss kitchens with quartz counters and stainless appliances, wide-plank flooring, spa-style baths with marble surrounds and glass showers, in-unit washer and dryer, walk-in closets, and individually controlled heating and cooling. Community amenities include a two-story marble lobby with floating stair, resident and game lounges, a fitness center, a rooftop terrace with grilling stations and a rooftop lawn with valley views, a fenced dog run and pet spa, structured resident parking with elevator access, secure bike storage, and private storage.
The property is 100% free-market with no rent regulation. Suffern anchors the northwestern corner of Rockland County at the New York and New Jersey border, pairing a walkable downtown with direct commuter rail to Manhattan and immediate access to three major highways. Full financials, rent roll, and the offering memorandum are available upon execution of the confidentiality agreement. This is an unpriced call-for-offers process.
Offer instructions:
This is a call-for-offers process. Offers are due no later than 5:00 PM EST on Thursday, October 8, 2026. To be considered, each bid must include a completed and signed Rand Commercial Sales Bid Document and an executed confidentiality agreement on file to access the offering memorandum and due diligence materials. Bid terms follow the Sales Bid Document: minimum 10% deposit upon PSA execution and a due diligence period not to exceed 30 days from acceptance. The Seller reserves the right to accept, reject, or negotiate any offer, to request best-and-final terms, and to withdraw the property at any time. All tours are by appointment through the exclusive advisors.