A downtown Ossining property that has been approved for development of 189 residential units in three buildings is being offered for sale at $14.5 million. The exclusive listing agent is Ariel Property Advisors, located in Manhattan.
The development at 34 State St., named Hudson Steppe, also includes plus 7,500 square feet of commercial space and an automated underground parking garage with 231 spaces.
The Business Journal previously reported that the 5.9-acre site once housed a wallpaper factory and offices. The then-developer of Hudson Steppe was Ossining Land LLC, an affiliate of Orb Management in Manhattan. Those development plans called for existing structures on the site to be demolished except for the historic Smith-Robinson House, which was to be preserved. It was to be rehabilitated and used for the 7,500 square-feet of commercial space.
Planning documents from 2014 indicate that the apartments were to be built into the slope overlooking the Hudson River and require cuts of up to 20 feet into the bedrock. Amenities were to include a recreation center, swimming pool, private garden, landscaped plaza, gym, clubhouse, media roof and bike storage space.
The units were to be marketed as condominiums or rental apartments of varying size from 835 square feet for studio units, 829 to 1,050 square feet for one-bedroom units, 1,200 to 1,700 square feet for two-bedroom units, and 2,038 to 2,793 square feet for three-bedroom units.
Hudson Steppe was projected to have a population of 413 people, including 47 school-age children, 32 of whom would be new students brought into the Ossining public schools. The project was expected to increase the village’s population of 25,060 counted in the 2010 Census by 1.6%.
“Ossining and neighboring communities have seen huge growth over the past decade and the pandemic has precipitated even more demand in the area,” said Victor Sozio, executive vice president and co-founder of Ariel Property Advisors. “This is a fantastic opportunity for an owner-developer to deliver a transit-oriented building, offering tenants the best of both worlds with a modern residential experience in the midst of a bustling downtown that is also close to nature and easily commutable to New York City.”
Ariel said that more than $3 million in pre-construction costs have already been covered and the project is shovel-ready.
When the Hudson Steppe project was being considered for sales tax and mortgage tax exemptions by the Westchester County Industrial Development Agency (IDA), the IDA was told that the estimated construction cost would be $80.5 million. Construction time was estimated as two years and it was said the project would result in 190 construction jobs and 11 permanent jobs.
