Rose Associates Acquires Development Site In Yonkers For $23M

A development site located at 57 Alexander Street in Yonkers has been sold for a price of $23,000,000. The property consists of 300,000 square feet with a price per buildable square foot of $75. The buyer, Rose Associates, intends to develop a seven-story building on the site. The building will comprise predominantly studio and one-bedroom apartments, with 75% of the units falling into these categories. Additionally, 10% of the units will be designated as affordable homes. The project will also feature 443 parking spaces and 25,000 square feet of open space, including a landscaped public esplanade offering access to the Hudson River waterfront and unobstructed views of the Palisades.

Summary of transation details:

• Property Type: Development Site
• Transaction Amount: $23,000,000
• Address: 57 Alexander Street, Yonkers
• Market: Yonkers
• Buyer: Rose Associates
• Seller: Altman Family
• Seller's Representative: DJ Johnston - B6 Real Estate, Bill Eisenhut, Brian Whitmer, and Al Mirin - Cushman Wakefield
• Asking Price: $25,000,000
• Building Square Footage: 300,000
• Price per Buildable Square Foot: $75
• Number of Units: 440

Rose Associates, the buyer, will be responsible for the development of the project. The seven-story building will primarily consist of studio and one-bedroom apartments, with 75% of the units falling into these categories. Additionally, 10% of the units will be designated as affordable homes. The development will include 443 parking spaces and 25,000 square feet of open space, which will feature a landscaped public esplanade offering access to the Hudson River waterfront and unobstructed views of the Palisades.