COMMERCIAL REAL ESTATE Partner Insights
COMMERCIAL REAL ESTATE
S1
SEPTEMBER 21, 2026
BUILDING THE FUTURE OF WESTCHESTER For over 45 years, Cappelli Organization and its subsidiaries, Cappelli Development and LRC Construction, have transformed communities throughout the Northeast through expert development, construction management, and investment.
25 NORTH LEX
AVE HAMILTON GREEN
3THIRTY3 & ENCORE
2 CLINTON PARK
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Cappelli Organization, 5 Renaissance Square, 42nd Floor, White Plains, NY 10601
914-769-6500 | WWW.CAPPELLIORG.COM
COMMERCIAL REAL ESTATE
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SEPTEMBER 21, 2026
Aiming High
By Joshua A. Potosek, Sullivan County Manager voltaic array, and will have electric vehicle charging stations right outside its doors. On its own, the terminal is an incredible new asset for the Airport. But we are not stopping there. We have just begun marketing the Airport as the most attractive business jetport within a 100-mile radius of New York City. After all, we already have more room and less expensive lease terms than any of the airports closer to the City (from which we’re only a 20-minute plane ride). The intent is not to bring back scheduled airline
The scenic beauty – and the vast amount of available room – is apparent at Sullivan County International Airport, as viewed from the new terminal’s second-floor outdoor deck.
service, since there’s plenty of options in and
and fuel their planes, ship cargo in and out, and set
around the Hudson Valley. Rather, we’re seeking
up offices for their pilots and ground crews. We’ve
Legendary entertainer Bob Hope, seen here visiting a local resort in 1975, was one of hundreds of celebrities who’ve taken advantage of Sullivan County International Airport’s convenience and amenities over the years.
to promote Sullivan County International Airport
already demonstrated the feasibility of this with
to business aviation companies as a convenient,
Hatzolah Air, a nonprofit goodwill that flies around
attractive, cost-effective alternative to the far more
the world from our Airport.
On a warm July day in 1969, local, State and Fed-
congested and expensive NYC airports.
eral officials celebrated the opening of Sullivan
Here in Sullivan County’s Catskills, they can store
With a new terminal ready to dazzle, we’re aiming high to finally reveal this long-hidden gem.
The $24 million terminal opened a year ago at Sullivan County International Airport and features a pilot lounge, restaurant area, spacious lobby and seven offices available to rent.
County International Airport a few miles west of Monticello, NY. The 6,000-foot runway was pressed into major service only a couple weeks later, when the legendary Woodstock festival bands started flying in and the emergency choppers started flying out. While the Airport has continued to play host to international stars performing at local hotels (or just jetting in for their own relaxing getaway), the original dream of a vibrant, attractive aviation hub has – pardon the pun – never really taken off. Yes, there was scheduled airline service in the 1970s – even flights to Canada, earning the “International” part of its name. And it continues to provide a haven for pilots (who rent hangars from us), planes (propeller-driven and jet-powered), the Civil Air Patrol, Hatzolah Air, and our 911 Center. Aviation fuel sales remain strong, and with an average of 72 takeoffs and landings every week, the Airport by no means goes unused. But we know it’s capable of far more. And that’s why we were thrilled when Gov. Kathy Hochul included Sullivan County in her Upstate Airport Economic Development and Revitalization Program, giving us $18.5 million to construct a new, energy-efficient terminal via the NYS Department of Transportation.
THE SUN’S RISING ON SULLIVAN...
New $24M business terminal Office space for lease Full-service restaurant coming
The 15,000-square-foot, timber-supported building finished construction last fall, and
6,298 x 150-foot runway
it’s a beauty: two stories full of floor-to-ceiling windows facing the runway, with seven leasable
ILS, GPU, AWOS and fuel truck
business offices, a conference room, a pilot’s lounge, and a second-floor restaurant (opening
600 acres with developable space
later this year) with an outdoor deck featuring views extending all the way to the high peaks of the Catskills. Sustainably built with glue-laminated wood, the terminal is heated and cooled with
Learn more: sullivanny.gov/departments/Airport
Explore options: call Ryan Brown at 845-807-0325
20 minutes by air from NYC
a geothermal system, powered in part by a photo-
COMMERCIAL REAL ESTATE
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SEPTEMBER 21, 2026
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COMMERCIAL REAL ESTATE
Sponsor
S4
SEPTEMBER 21, 2026
Lawrence Farms Market Square: A Premier Retail and Residential Property in Fishkill
O W N E R U S E O R D E V E LO P M E N T | D E L I V E R E D VAC A N T
FOR SALE | 1056 Washington Ave. | Bronx, NY Listing by T. Marziano & D. Hickey | $1,995,000
1 , 788 S F P RO F E S S I O N A L / M E D I C A L
CO N D O | I M M E D I AT E O CC U PA N C Y FOR LEASE | 244 N Main St. | New City, NY Listed by Sean Campbell | $20/SF/YR
Route 9 commercial corridor in Fishkill, NY.
Lawrence Farms Market Square is a 100% occupied, institutional-quality retail shopping plaza located along the premier Route 9 commercial corridor in Fishkill, NY. This institutional asset delivers immediate, reliable cash flow backed by stable, long-term national retail brands, paired with a built-in multi-family component. Spanning an expansive 9.93-acre site with zero deferred
N E W LY CO N S T R U C T E D M U LT I FA M I LY B R A N D N E W 1 , 2 5 0 S F B U I L D - O U T I N T H E B RO N X | 8 U N I TS AVA I L A B L E O N R O U T E 6
FOR SALE | 3530 Willet Ave. | Bronx, NY Listed by K. Leowitz & J. Lezi | $2,750,000
FOR LEASE | 572 Route 6 | Mahopac, NY Listed by Kenneth Leowitz | Call for Pricing
UNIQUE UNDER $1M MIXED-USE IN H E A RT O F OS S I N I N G
1 , 5 2 0 S F W E L L M A I N TA I N E D M E D I C A L S U I T E I N R I V E R TO W N
T H R I V I N G , F U L LY O CC U P I E D N E I G H B O R H O O D R E TA I L S T R I P
5 0 0 S F V E R S AT I L E S T U D I O O R P R O F E S S I O N A L O F F I C E S PAC E
5, 0 0 0 S F M I X E D - U S E C E N T R A L LY
2 , 0 0 0 S F R E TA I L S PAC E AVA I L A B L E
FOR SALE | 128 Grand St. | Croton-on-Hudson, NY Listed by Sean Campbell | $1,350,000
FOR LEASE | 22 Upper Croton Ave. | Ossining, NY Listed by Jeffrey Landsman | $22.50/SF/YR
maintenance, this turnkey asset represents a premier footprint in one of the Hudson Valley’s most resilient retail markets The property is comprised of 4 tenant buildings plus 1 utility building in excellent condition. The Net Operating Income (NOI) is derived for a mix of long term and solid net leased retail tenancy, and a smaller residential apartment component making this a well-balanced and stable cash flowing asset with market cycle resiliency. 83% of the NOI is derived from the netleased retail tenants, while the balance of the NOI (17%) is derived from the residential apartments. There are 9 net leased retail tenants and 9 residential apartments. The property is in excellent condition, is well maintained and has no deferred maintenance. That makes it a superb investment for investors looking for solid cash-flow via a turnkey asset.
FOR SALE | 193 Main St. | Ossining, NY Listed by Richard Aponte | $885,000
FOR LEASE | 615 Bdwy. | Hastings-on-Hudson, NY Listed by Russell Detres | Call for Pricing
But even more attractive is the quality of the tenancy. With over 80% of the gross revenue coming from national retailers, the risk profile of the asset is extremely favorable. Rounding that out is the fact that a portion of the revenue is derived for residential tenancy, hedging some of the cyclicality inherent the retail market. Vacancy rates in Dutchess County for residential property has been below 5% for over 25 years. Lawrence Farms Market Square sits at 1083 US Route 9 in Dutchess County, New York. The plaza occupies a highly visible, strategic position along Route 9, which serves as the primary commercial and retail spine of the mid-Hudson Valley region. It is positioned directly in front of the Lawrence Farms residential community, blending a busy thoroughfare setting with immediate neighborhood access. The center benefits from exceptional local and regional highway access. The property is lo-
FOR SALE | 200 E Main St. | Mount Kisco, NY Listed by Michael Rackenberg | $4,600,000
FOR LEASE | 3 East Cross St. | Croton Falls, NY Listed by Darren Gordon | Call for Pricing
cated just 0.6 miles north of Exit 46 (formerly Exit 13) on I-84, making it a quick stop for regional travelers commuting between Connecticut, Newburgh, and Pennsylvania.It sits immediately north of the busy Route 9 and Route 52 commercial corridor, putting it less than 5 minutes from downtown Fishkill. The plaza is roughly a 10-minute drive to the Beacon Metro-North Station, connecting the immediate area straight to New York City. The property is less than 2 miles from the Hudson Valley Research Park (formerly IBM), which brings a large daytime workforce into the immediate shopping and dining loop. Because of its proximity to the I-84 interchange, the plaza is surrounded by multiple national hotel chains (including Hilton Garden Inn, Courtyard by Marriott, and HYATT house), driving consistent out of town foot traffic to its restaurants and boutiques.
LO C AT E D I N C R OTO N - O N - H U D S O N
N E X T D O O R TO TO W N H A L L
This opportunity is new to market at current pricing levels. Market activity has been robust since its launch on September 10, 2026, so interested investors are encouraged to contact Ste-
8 0 0 W E S TC H E S T E R AV E N U E, S U I T E N -5 1 7 | RY E B R O O K , N Y 1 0 5 7 3 9 1 4 . 79 8 .4 9 0 0 | H O U L I H A N L AW R E N C E.CO M / CO M M E R C I A L
ven Salomone at 914-329-0185 or ssalomone@houlihanlawrence.com or Tom LaPerch at 845729-4211 or tlaperch@houlihanlawrence.com for a more detailed set of information including a detailed rent roll and P&L.
COMMERCIAL REAL ESTATE
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SEPTEMBER 21, 2026
TRUSTED JOURNALISM AT YOUR FINGERTIPS westfaironline.com COMMERCIAL REAL ESTATE
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SEPTEMBER 21, 2026