Spring Valley Properties Sold For Redevelopment
by M.C. Millman
Two properties on Union Road in Spring Valley were recently purchased by MF Monsey Management.
The properties were purchased from Valente Enterprises of Spring Valley and are located at 53 and 61 Union Road. The combined purchase price was $4.65 million for a total of 1.12 acres.
The properties were purchased with a $2.8 million mortgage in favor of Levon NY LMXXII LLC of Jackson, NJ.
53 Union was the former location of the iconic Joe's Tires, which opened in 1968 and serviced the community for 54 years. The address is zoned R-3 (medium-high density residential). The zoning allows for multi-family dwellings.
Zwill Court, directly across Union Road opposite the former Joe's Tires location, has recently seen new developments of six-bedroom, four-bathroom semi-attached homes selling for over $900,000.
According to some reports, the properties will be used to build an urgent care.