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PARTNERSHIP DISSOLUTION - 144,000+ SQ FT BLDG 759 Palmer Rd 35 Unit Apartment Building For Sale Bronxville, NY 10708
Executive Summary
144,000+ Sq Ft Building
Luxury Condo Conversion (60% Complete) – Financing Available
Details:
759 Palmer Road, Yonkers, Westchester County, NY 10708
“Bronkers” Neighborhood, Near the Bronxville Train & Retail District
Impressive Three Story Brick Building – Former Hall of Records for Metropolitan Life Insurance Company
Mid-Conversion to Luxury Residential Units – Appx 60% Complete
35 Units Ranging from 1,776 – 4,399 Sq Ft (Building department has indicated they would approve converting to 76 units)
Planned Amenities: Two Level Indoor Parking Garage, Indoor Pool, Rooftop Lounge Area, Movie Theater, Fitness Center, Concierge & More
Less Than One Mile to Bronxville Train Station (28 Minute Ride to Grand Central Station)
Immediate Local Highway Access to Sprain Brook Parkway, New York State Thruway, Bronx River Parkway, Saw Mill River Parkway & Cross County Parkway
Additional Information:
Gross Building Area: 144,258 Sq Ft
Net Rentable Area: 105,346 Sq Ft
Gross Site Area: 1.01 Acres
Originally Built 1906 & 1927
Renovation Performed 2013-2018 (Current State)
Zoning: MG (Residential – Low Density)
Property Type: Multi-Family (Condominium Lofts)
Flood Zone X
Section: 5, Block: 5638, Lot: 48
Annual Real Estate Taxes: $238,584.43
Seller Financing Available: Experienced developers with good credit shall have the option to receiver a purchase money mortgage with a minimum of 50% down, 7% annual interest rate, five year term, and monthly interest-only payments (please call to pre-qualify)
$9,500,000 Minimum Opening Offer (Formal Offers Submitted November 11th-13th - Subject to Sale Prior)
Luxury Condo Conversion (60% Complete) – Financing Available
Details:
759 Palmer Road, Yonkers, Westchester County, NY 10708
“Bronkers” Neighborhood, Near the Bronxville Train & Retail District
Impressive Three Story Brick Building – Former Hall of Records for Metropolitan Life Insurance Company
Mid-Conversion to Luxury Residential Units – Appx 60% Complete
35 Units Ranging from 1,776 – 4,399 Sq Ft (Building department has indicated they would approve converting to 76 units)
Planned Amenities: Two Level Indoor Parking Garage, Indoor Pool, Rooftop Lounge Area, Movie Theater, Fitness Center, Concierge & More
Less Than One Mile to Bronxville Train Station (28 Minute Ride to Grand Central Station)
Immediate Local Highway Access to Sprain Brook Parkway, New York State Thruway, Bronx River Parkway, Saw Mill River Parkway & Cross County Parkway
Additional Information:
Gross Building Area: 144,258 Sq Ft
Net Rentable Area: 105,346 Sq Ft
Gross Site Area: 1.01 Acres
Originally Built 1906 & 1927
Renovation Performed 2013-2018 (Current State)
Zoning: MG (Residential – Low Density)
Property Type: Multi-Family (Condominium Lofts)
Flood Zone X
Section: 5, Block: 5638, Lot: 48
Annual Real Estate Taxes: $238,584.43
Seller Financing Available: Experienced developers with good credit shall have the option to receiver a purchase money mortgage with a minimum of 50% down, 7% annual interest rate, five year term, and monthly interest-only payments (please call to pre-qualify)
$9,500,000 Minimum Opening Offer (Formal Offers Submitted November 11th-13th - Subject to Sale Prior)
Property Facts
| Sale Type | Investment | Building Class | C |
| No. Units | 35 | Lot Size | 1.01 AC |
| Property Type | Multifamily | Building Size | 144,258 SF |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Low-Rise | Year Built | 1927 |
| Zoning | MG - Residential – Low Density | ||
| Sale Type | Investment |
| No. Units | 35 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.01 AC |
| Building Size | 144,258 SF |
| No. Stories | 3 |
| Year Built | 1927 |
| Zoning | MG - Residential – Low Density |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+2 | 7 | - | 1,776 - 1,986 |
| 1+2.5 | 3 | - | 2,103 |
| 2+2.5 | 6 | - | 2,959 - 2,988 |
| 3+3.5 | 6 | - | 2,470 - 3,036 |
| 3+4 | 1 | - | 2,873 |
| 3+4.5 | 6 | - | - |
| 4+4.5 | 6 | - | 3,673 - 4,166 |
Moderately walkable
60/100
Exceptionally drivable
100/100
Good public transit
60/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 1800-005-000-05638-000-0048 | Improvements Assessment | $123,400 |
| Land Assessment | $75,000 | Total Assessment | $198,400 |
Property Taxes
Parcel Number
1800-005-000-05638-000-0048
Land Assessment
$75,000
Improvements Assessment
$123,400
Total Assessment
$198,400
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PARTNERSHIP DISSOLUTION - 144,000+ SQ FT BLDG | 759 Palmer Rd