AUCTION: 11/13. 144,000+ Sq Ft Building - Prime Location

Description:

Partnership Dissolution – Immediate Sale Directed via Public Auction

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 Opening Bid