The Real Deal New York

Westchester & Fairfield Cheat Sheet: Yonkers auctioning off a cul-de-sac and 17 other parcels … & more

August 22, 2018 03:00PM

Clockwise from top left: Westchester homeowners pay more in property taxes on average than Manhattan homeowners, Yonkers auctioning off a cul-de-sac and 17 other parcels, developer proposing 82-unit apartment complex near Peekskill waterfront, and Bridgeport synagogue hits the market for $4.5 million.

Yonkers auctioning off a cul-de-sac and 17 other parcels
Yonkers is auctioning off more than a dozen parcels that it doesn’t need, including a .9-acre cul-de-sac, LoHud reported. The 18 parcels will be auctioned off on Sept. 7, and some of them “are large enough for homes and apartment buildings,” according to the outlet. The largest parcel, called Morsemere Terrace, includes 15 lots and a cul-de-sac, and has a starting price of $50,000. Yonkers acquired the parcel through a foreclosure auction, spokeswoman Christina Gilmartin told the outlet. Some of the parcels — like Morsemere Terrace, which is “steep and rocky” — may not be the easiest to develop, the outlet noted. [LoHud]

Bridgeport synagogue hits the market for $4.5M amid dwindling attendance
A synagogue in Bridgeport has been listed for $4.5 million. Congregation Rodeph Sholom decided to sell the 30,256-square-foot building on Park Avenue amid dwindling attendance and a dearth of younger worshippers, since the congregation “primarily consists of individuals ages 55 and older,” the Fairfield County Business Journal reported. The synagogue itself includes a sanctuary space that seats 750 people, as well as a chapel and a social hall. Its new owner would be able to seek a permit to convert the building into a school or a community center. [FBJ]

Westchester homeowners pay more in property taxes on average than Manhattan ones
Homeowners in Westchester pay more in property taxes each year than homeowners in Manhattan, Bloomberg reported. In Westchester, homeowners pay $15,000 per year in property taxes on average — approximately 10 percent of their average income of $148,775. In Manhattan, meanwhile, property taxes are around $14,400 per year on average — a lower percentage of homeowners’ income since it’s estimated that Manhattanites make about $60,000 more per year, according to the outlet. As the cost of owning a home has risen, more and more people are opting to rent rather than buy, according to the report. [TRD]

Senior living community proposed in Stamford by Massachusetts-based team
Stamford could be getting a new senior living community, according to the Fairfield County Business Journal. National Development and Epoch Senior Living, both based in Massachusetts, hope to team up to build a 130-unit community at the former GE Capital property on Long Ridge Road, the outlet reported. Construction on the tentatively-named Waterstone at Stamford community could start as early as next year. Epoch Senior Living already operates memory care communities in Norwalk and Trumbull. [FBJ]

Fairfield County municipalities to benefit from state grants for affordable housing development
Fairfield, Darien, Greenwich and Stamford will benefit from more than $61.5 million in grants and loans Connecticut plans to award to bolster affordable housing in the state, the Fairfield County Business Journal reported. Projects receiving financial backing include the development of a 55-unit affordable rental development in Darien, the rehabilitation of four affordable housing units in Fairfield, and asbestos remediation and quality-of-life improvements at a “moderate rental property” in Greenwich, according to the outlet. Throughout the state, the awards are expected to create or rehab 978 homes. [FBJ]

Developer proposing 82-unit apartment complex near Peekskill waterfront
Developer Wilder Balter Partners hopes to build 82 apartments near Peekskill’s train station and waterfront, LoHud reported. The rental development on Main Street would be geared toward residents making between $42,000 and $96,000 and include “a mix of affordable housing and workforce housing aimed at municipal employees and others,” the outlet reported. The development would house 10 one-bedroom units, 66 two-bedroom units and 6 three-bedroom units, and the building’s future residents will “feel like they’re in a tree house — they’ll be surrounded by forest,” Michael Giardino, a principal at project designer L&M Design, said. To move forward, the project requires zoning changes and thus needs to be reviewed by the city planning board. [LoHud]