13.25-Acre Cold Spring Country Club Parcel Zoned to Accommodate 185 Housing Units

COLD SPRING HILLS, N.Y., Jan. 18, 2018 – A multifamily development site set between the prestigious Cold Spring Country Club and famed Oheka Castle in Cold Spring Hills is coming to market for sale. Cushman & Wakefield has been appointed to market the 13.25-acre parcel on East Gate Drive.

Currently owned by Cold Spring Country Club, the property is zoned Residential-Open Space Cluster District, allowing for future development of 185 housing units. “This truly is a one-of-a-kind opportunity for a high-end condominium developer to create a distinctive community on Long Island’s Gold Coast,” noted Cushman & Wakefield’s Andrew Merin, who is heading the assignment with team members Brian Whitmer and Ryan Dowd, based in East Rutherford, N.J., along with Tom Donovan from the commercial real estate services firm’s Queens office.

According to Merin, strong regional demand for luxury, for-sale multifamily product is being spurred by an affluent, aging population seeking opportunities to relocate from single-family residences to well-amenitized, maintenance-free condo homes. “This parcel offers a picturesque setting flanked by one of the area’s most well-known private country clubs and one of the world’s most prestigious wedding and event venues,” he noted. “We anticipate strong and immediate interest in this offering.”

While this offering is only a land/development play, it represents the fourth golf club assignment for this Cushman & Wakefield team. They also orchestrated the successful trades of The Woodmere Club in Woodmere, N.Y., Edgewood Country Club in River Vale, N.J., and Shackamaxon in Scotch Plains, N.J. This team specializes exclusively in investment sales of office, industrial, multifamily, land and retail properties throughout New Jersey, New York, and Fairfield County, Conn. The team has completed $27 billion worth of transactions since 2000, closing over $2.2 billion in sales in 2017.

About Cushman & Wakefield

Cushman & Wakefield is a leading global real estate services firm with 45,000 employees in more than 70 countries helping occupiers and investors optimize the value of their real estate. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $6 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.