Senior citizen apartments sold for $9 million

Midrise Apartments, a 101-unit senior citizen apartment complex in Mechanicville, has been sold for the second time in four years.

An LLC affiliated with Ogden Pond Realty in Manhattan paid $9 million for the property at 180 North Main St., according to a deed filed in the Saratoga County clerk’s office.

The seller was Arker Cos. of Long Island.

The deal closed March 30.

Keybank NA provided $8.55 million in financing, according to a mortgage filing.

The property last sold for $8.5 million in January 2019.

Mark E. Carbone signed the mortgage on behalf of the fee owner, 180 Main St. N Housing Development Fund Company Inc., and the borrower, Mid Rise Preservation LLC, which is affiliated with Ogden Pond Realty.

The apartment rents are subsidized by the federal government.


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