8 apartment buildings in Yonkers sold for $12.3M: ‘Yonkers is on the rise,’ broker says
YONKERS – Eight rental apartment buildings in the city, with a total of 81 units, have recently been sold for $12.3 million in a package deal, according to NuRealty Advisors, a commercial real estate brokerage firm in Yonkers.
The seller was Rhodium Capital Advisors of New York City, and the buyer was Canvas Blue Development of Scarsdale, according to NuRealty.
Michael Nukho, NuRealty’s principal real estate broker who represented the seller, said he has seen a large influx of investors coming to Yonkers from New York City, New Jersey and Connecticut.
“The reason is Yonkers is on the rise. Values are rising as investors see (Yonkers’) proximity to New York City,” he said. “They see the capital invested in the Yonkers downtown.”
Lukasz Przybylek, NuRealty’s associate real estate broker who represented the buyer, echoed Nukho, saying that so far, the rising interest rates haven’t caused investment slowdown.
As developers and investors flock to Yonkers, the city’s apartment rents are steadily rising.
As of October, the average rent for an apartment in Yonkers is $1,913, up 2 percent from the previous year when the average rent was $1,870, according to RentCafe, a nationwide internet listing service.
The 12.3 million, 81-unit package:
156 Woodworth Ave. — 26 units
50 Fairview St. — 6 units
52 Fairview St. — 6 units
54 Fairview St. — 7 units
12 Orchard Place — 8 units
20 Orchard Place — 8 units
28 Orchard Place —10 units
138 Orchard St. — 10 units
Source: NuRealty Advisors
Office of Economic Development