The Real Deal New York

Posts Tagged ‘ridge hill’

  • From left: Zerhy Jereis, the Ridge Hill development and Sandy Annabi

    A former Yonkers councilwoman was sentenced to six years in prison for accepting bribes in exchange for her vote on real estate deals, the New York Post reported.

    Sandy Annabi, who voted with developers on deals — including the high-end mixed-use development Ridge Hill in Yonkers — was also ordered to pay more than $1.4 million in fines and restitution, the Post said. The shopping and residential center’s developer of that project, Forest City Enterprises, was not charged, according to previous reports. [more]

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  • A rendering of Monarch at Ridge Hill, in Yonkers

    A little bit of Manhattan has sprung up in notably gritty Yonkers. A new condominium development in the Westchester city offers the amenities of some of the nicest condos in Manhattan — from wine cellar to yoga room to a nearby Whole Foods Market, the New York Post reported.

    Luxury development Monarch at Ridge Hill will include 500 condos in four, 12-story towers, the Post said. The first tower opened in January and the timeframe for the release of the other towers has not been set yet, David Marom, chairman of the Horizon Group, which developed Monarch, told the Post. [more]

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  • From left: Former Yonkers City Council member Sandy Annabi, Zehy Jereis, former chairman of the Yonkers Republican Committee, and the Ridge Hill complex

    Former Yonkers City Council member Sandy Annabi and Zehy Jereis, former chairman of the Yonkers Republican Committee, were both found guilty today on all counts in a corruption case over the Ridge Hill luxury mall and housing complex project, the New York Times reported. [more]

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  • From top: Yonkers Mayor Mike Spano, Sandy Annabi, Albert Pirro and the Ridge Hill complex

    Forest City Ratner carried out “a relentless behind-the-scenes quest” to get approval for a Yonkers mixed-use development, according to trial evidence in a political corruption case cited by the New York Times.

    The ongoing federal corruption case charges Yonkers City Council member Sandy Annabi with accepting bribes to reverse her stance and give the last needed vote of approval for Forest City Ratner’s 91-acre mall and housing complex known as Ridge Hill. [more]

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  • From left: Former Yonkers Republican Party Chairman Zehy Jereis and Former Yonkers Council member Sandy Annabi

    A Forest City Ratner executive testified the firm paid $5,000 per month to then-Yonkers Republican Party Chairman Zehy Jereis because he could swing a key vote to approve a $650 million Westchester mixed-use development, the New York Post reported.

    Scott Cantone, the firm’s senior vice president for government affairs, took the stand in a Manhatttan federal court case on political corruption in Yonkers, to discuss accusations that former Yonkers Council member Sandy Annabi accepted more than $160,000 in bribes through Jereis. [more]

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  • From left: Bruce Ratner, Zehy Jereis and Carl Kruger

    Though not charged with any crimes, Bruce Ratner has found himself a prominent role in recent corruption cases involving Yonkers and Brooklyn politicians, a New York Times columnist said, thanks largely to his maneuvering for approval for two massive developments.

    Ratner has hired a mix of former politicians, political consultants and lobbyists to obtain approval and funding for his Atlantic Yards project and a less-publicized, 81-acre luxury residential and retail complex he’s trying to build in Yonkers called Ridge Hill. [more]

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  • New York-based retail chain Lord & Taylor is gearing up to open three new stores in the next year, the New York Post reported. New locations will include an 80,000-square-foot store at Ridge Hill, a lifestyle center in Yonkers,a 120,000-square-foot store in Rockingham, NH, and an 80,000-square-foot store in Boca Raton, Fla., at Mizner Park.

    The move to open more stores comes as a surprise since Lord & Taylor’s owner, Canada-based Hudson’s Bay Co., called off plans earlier this month to launch an initial public offering on the Toronto Stock Exchange.

    While Hudson’s Bay isn’t in any financial difficulties, its owner and chairman, Richard Baker — a New York real estate mogul who purchased Lord & Taylor as a property investment is eager to launch the IPO next year, the Post said…. [more]

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  • Saks Fifth Avenue is pulling out of Forest City Enterprises’
    controversial Ridge Hill real estate project in Westchester County,
    raising further questions about the future of the $685 million
    mixed-use complex.
    Forest City announced yesterday that Saks pulled out as the anchor
    tenant of the project, less than a year from signing a deal to develop
    an 80,000-square-foot store at the Yonkers site, making it the chain’s
    only store in Westchester County. Saks told The Real Deal that the
    developer failed to meet a key provision of the deal.
    “Saks Fifth Avenue had signed a letter of intent to be a part of the
    Ridge Hill development, but Forest City was unable to secure our agreed
    upon list of co-tenants for the development,” said Julia Bentley,
    spokesperson for Saks…. [more]

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