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GM sells Hudson River site for US$39.5m

Published Fri, Dec 26, 2014 · 09:50 PM
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Los Angeles

SUNCAL and Diversified Realty Advisors bought the site of a former General Motors (GM) assembly plant on the Hudson River north of New York City to build properties including 1,177 residences and a hotel.

SunCal expects to break ground next year at the site in Sleepy Hollow, about 48 km north of New York City, and open the first residences in 2017, said Frank Cappello, president of the company's eastern region. The purchase was completed earlier this week in New York.

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