Belmonte buys land for 32 estate-sized homes in Clifton Park

The Business Review (Albany) - by Michael DeMasi

Belmonte Builders closed on the purchase of 74 acres in Clifton Park, N.Y., for a 32-lot upscale subdivision that would feature a horse pasture.

Belmonte paid $2.1 million for the land off Crescent Road and Van Vranken Drive in the hamlet of Vischer Ferry.

The sellers were Garry and Faith Boel, a retired couple.

The builder has had the property under contract for a year and was waiting until it received final approval from the town before closing on the deal, said Peter Belmonte, president.

Belmonte said he’s not sure how quickly construction will begin on the development, to be called Bridlewood.

The estate-style homes will be priced in the mid-$500,000s, a range that has proven more difficult for sellers these days as demand for new homes slows in the region.

Vischer Ferry is an historic hamlet in town that has horse pastures and other elements of a rural lifestyle. Bridlewood was laid out to include 15 acres near the entrance to the development that are zoned for a horse pasture.

Belmonte hopes to find a buyer who would stable a handful of horses there.

“When you enter the new neighborhood it won’t be congested,” Belmonte said. “It will be open-air and tranquil.”