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Rose Associates Acquires Development Site In Yonkers For $23M

57 Alexander Street
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This Development Site property located in NY was sold for $23,000,000 over 4 years ago. The brokers of the deal were Al Mirin, DJ Johnston, Brian Whitmer, and Bill Eisenhut

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.

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Deals
  • Location
    57 Alexander Street, Yonkers, NY, USA57 Alexander Street, Yonkers, NY, USA
  • Sale Price
    $23,000,000$23,000,000
    $76 PPSF$76 PPSF
  • Area
    300,000 SF300,000 SF
  • Asset Type
    Development SiteDevelopment Site
  • Parties
    4 Brokers, 2 Agencies4 Brokers, 2 Agencies

Agents

Al Mirin

Al Mirin

Deals4
Sold$64.2M

Agencies

Cushman & Wakefield

Cushman & Wakefield

Agency
Deals4186
Volume$167B

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Deal Summary

SALE IMAGE: Bill Eisenhut, DJ Johnston & Brian Whitmer DATE: 12/06/2019 ADDRESS: 57 Alexander Street MARKET: Yonkers ASSET TYPE: Development Site SELLER: Altman Family BUYER: Rose Associates SELLER’S REP: DJ Johnston - B6 Real Estate, Bill Eisenhut, Brian Whitmer, and Al Mirin - Cushman Wakefield ASKING PRICE: $25,000,000 SALE PRICE: $23,000,000 BSF: 300,000 ~ PPBSF: $75 UNITS: 440 NOTE: Rose Associates is responsible for development of the seven-story building, where 75 percent of the units will be studio and one-bedroom apartments. Ten percent of units will debut as affordable homes. In addition to residential area, the project will include 443 parking spaces and 25,000 square feet of open space including a landscaped public esplanade with access to the Hudson River waterfront and unobstructed views of the Palisades.

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57 Alexander Street

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