The Real Deal New York

Westchester & Fairfield Cheat Sheet: Oxford Property Group expands to White Plains, 19-acre mixed-use development proposed in Shelton … & more

By James Klatell | November 29, 2017 03:05PM

Westchester & Fairfield roundup

Clockwise from top left: Ginsburg’s latest development in Yonkers, mixed-use development proposed in Shelton, renovated offices in Stamford land new tenant, Adam Mahfouda of Oxford Property Group, and the Port Chester Housing Authority.

Oxford Property Group coming to Westchester with new White Plains office
Oxford Property Group will open its first office outside of New York City in White Plains. The residential brokerage signed a lease on 2,000 square feet of office space at 77 Tarrytown Road. “We see a tremendous amount of opportunity in bringing our expertise and services to the Westchester area,” said founder and co-owner Adam Mahfouda in a statement. Launched in 2010, Oxford now has $75 million in property listings, and Mahfouda hopes to continue to expand to Long Island, New Jersey, and Connecticut, Real Estate Weekly reported. [Real Estate Weekly]

Mixed-use development proposed at former United Illuminating office building in Shelton
The former United Illuminating property at 801 Bridgeport Avenue in Shelton is for sale for $6.6 million and a plan has been submitted to the town to develop the 19-acre site into a mixed-use complex. As-of-yet unnamed investors submitted a plan to the Shelton Planning & Zoning Commission to build a new hotel and 10 other office and retail buildings. The site has been vacant since UI consolidated its operations in Orange five years ago and the land is currently zoned only for industrial use. [Valley Independent]

Due by 2077: Port Chester Housing Authority has 60 years to pay $260K in taxes
The village of Port Chester Housing approved a deal with the Port Chester Authority to pay $260,000 in back taxes, which will see the housing authority settle its bill in 60 years. The federally subsidized agency will pay $20,575 up front and 720 monthly installments of $338 after that. In 2014, Port Chester set up a public-private tax partnership with water company SUEZ to pay for court-mandated sewer repairs, which was supposed to push the tax burden on business and government agencies. The Housing Authority, however, hasn’t paid its sewer rental taxes since then. [Lohud]

Stamford office complex signs first tenant following major renovations
Shipping company BRS USA has signed an eight-year lease for 6,800 square feet of office space at 850 Canal Street in Stamford, making it the first new tenant after a “multimillion-dollar redevelopment,” took place on the property over the summer Westchester Business Journal reported. Owned by partners ClearRock Properties, Gottesman Real Estate Partners and Mountain Development Corp., the 70,000-square-foot office building has a new entrance, common areas and parking lot. The building is one of three on the 250,000-square-foot office campus owned by the joint venture. [WBJ]

Developers top off Yonkers 55-unit luxury apartment complex
Ginsburg Development and Yonkers city officials celebrated the end of construction at a new 55-unit luxury apartment complex at 1177 Warburton Avenue. The three-story building, dubbed 1177@Greystone, will feature one, two and three-bedrooms apartments with rents ranging from $2,150 to $3,995. The building is scheduled to open May 1. Another nearby Ginsburg property, the 330-unit River Tides at Greystone, recently opened its doors to renters. [Yonkers Daily Voice]