Governor Clinton Apartments and Alexander Yosman Apartments Will Receive a $10 Million Rehabilitation
In a transaction that closed in October, 2018, K & R Preservation acquired two senior apartment complexes consisting of 196 units in downtown Kingston, NY. The 92-unit Governor Clinton Apartments located at 1 Albany Avenue, and the 104-unit Senior Housing Alexander Yosman Apartments located at 295 Broadway, were purchased for a combined price of $17.9 million. K & R Preservation invested an additional $55,000 per unit – or $10 million total — for the restoration program. Each property will receive a significant upgrade with the repair and installation of new roofs, compactors, flooring, and facades. Building common areas will benefit from new paint, floor refinishes and extensive upgrades to life/fire safety systems with new fire alarm panels and security cameras.