The Hudson River State Hospital in Poughkeepsie has been bought by a New Jersey developer, reports Westfair publications.
Houlihan Lawrence Commercial Real Estate Group in Rye Brook concluded the sale to Diversified Advisors LLC of Summit, N.J. which is said to have plans to transform the dormant psychiatric hospital along Route 9 into a mixed use complex. The property is 155 acres and has been the subject of much discussion and anticipation for more than a decade.
The price was not disclosed.
“This site has been lying dormant for several years and now it is slated to come back in the spotlight and jumpstart the local economy, “ Houlihan Lawrence director Tom LaPerch is quoted as saying in a press release.