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BLOOMING GROVE - Investors have purchased 705 acres of woods and fields zoned for housing development in two municipalities in a single sale for $6 million.
A newly formed entity called BGRE Holdings LLC made the purchase on April 7, according to a deed transfer filed this week with the Orange County Clerk s Office. The buyer s stated address was that of a company based in Edison, New Jersey, and co-founded by Akiva Klein, a wealthy Kiryas Joel businessman.
The land consists of 13 properties in the village of South Blooming Grove and town of Blooming Grove, with about 105 acres in the village and 600 acres in the town. Each municipality has its own boards and land-use rules and would have jurisdiction over any future development plans for the parcels in their borders.