Overview

Highlights

• One of New York's hottest neighborhoods for development
• Located in the heart of downtown Yonkers
• Approximately 32,000 buildable sq/ft
• 100' height limit as of right
• Comparable Rents over $35 PSF
• 4% year over year rent growth
• 2 blocks from Yonkers Metro Station and 30 minutes to Grand Central Station
• Steps away from the Hudson River
• Growing Retail Corridor
• Neighbors include pioneering developers like AvalonBay, RXR, etc.

Description

Lee & Associates NYC is pleased to present, for exclusive sale, the development site located at 36-38 Main Street (the “Property”) in Yonkers, NY.

The Property is a pair of adjacent lots with total combined lot size of 3,956 SF having 45 feet of frontage on Main Street between Riverdale Avenue and Hawthorne Avenue in downtown Yonkers. The lot is just steps off of the high pedestrian foot traffic retail corridor of Riverdale Avenue. The Property is located in a D-MX zoning for downtown Yonkers and can be built up to a maximum height of 100 feet. The Property is across the street from the RXR Sawyer Place development project that takes up nearly an entire city block. Sawyer Place is the landmark project in a wave of new residential-driven construction in Downtown Yonkers and along the Hudson River. Sawyer Place is comprised of 31,000 + SF of new retail and 439 apartment units. RXR is a proven master plan developer that has strategically positioned itself to build, develop, and evolve the urban Westchester County cities of New Rochelle and Yonkers into transit-oriented epicenters for the live-work -play lifestyle. This strategic long-term planning by developers like RXR, AvalonBay, and Strategic Capital has positioned downtown Yonkers to attract growing and successful companies along with their respective employees. As a result average rents have recently exceeded $35 per sq/ft and grown at a rate of 4% in the past 12 month.

The Property is two blocks east of the Yonkers Metro Station servicing both the Metro North and Amtrak with a 30-minute commute to Grand Central via Metro North, and access to Poughkeepsie and the greater Albany area via Amtrak. Two blocks north of the Property are several city administrative buildings and the 24-acre technology and office campus known as i.Park Hudson. The i.Park campus consists of 1,100,000 SF + of renovated office, industrial, and residential units across 8 buildings and serves just one example of the growing office market that will continue to drive this market.

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