The Real Deal New York

Westchester & Fairfield Cheat Sheet: Battle over zoning at Stamford office parks rages on … & more

By Maya Rajamani | August 29, 2018 02:00PM

Clockwise from top left: Visa investment fund hits Westchester condo developers with $5M lawsuit (credit: iStock and Wikipedia), Dannel Malloy marks opening of Stamford high-rise with ribbon-cutting ceremony (credit: John), Developer seeks $20M in tax breaks for project it says will revitalize part of Yonkers (credit: istockphoto.com), and New Canaan resident hits zoning commission with suit over planned athletic facility (credit: Emily Serven).

The battle over zoning for fitness complexes at Stamford office parks rages on
Earlier this month, Stamford’s Board of Representatives rejected a zoning change that would have allowed George Comfort & Sons to build a fitness complex at an office park it owns. Now, George Comfort & Sons is appealing the board’s decision, the Stamford Advocate reported. The owner claims the board’s representatives “voted based upon political or other arbitrary or improper reasons or motivations,” according to the outlet. At issue are the signatures residents gathered after the zoning board initially approved the change to permit the fitness centers in office parks. City attorney James Minor rejected most of them, claiming most signatures did not come from landowners. The residents asked the Board of Representatives assert the validity of the petition, which they did, proceeding to rule in favor of overturning the zoning board’s approval of the change. Some Stamford residents said they are worried about the “lights, noise and traffic” a fitness center could bring to the area and claimed it would “ruin the character of their neighborhood,” according to the outlet. [Stamford Advocate]

EB-5 fund sues developers over long delayed Bronxville condo project
Manhattan-based visa investment fund Advantage America EB5 Group has hit the developers of a Westchester condominium project with a lawsuit claiming they defaulted on their loan obligations, the Westchester County Business Journal first reported. The $5 million lawsuit filed against the developers of the MetLoft Bronxville condominium project claims that Advantage America loaned that amount to the project in 2015, and it was “guaranteed by the developers.” “But MetLoft, now known as EMC Bronxville Metropolitan LLC, defaulted on its loan obligations last year,” the lawsuit claims. [TRD]

New Canaan resident hits zoning commission with suit over planned athletic facility
A woman who lives next to New Canaan Country School is suing the New Canaan Planning & Zoning Commission, claiming an athletic facility the commission approved “will have more negative impact on the use, enjoyment and value of [her] property than it would literally anywhere else on the 70-plus acre school property,” the Fairfield County Business Journal reported. The commission approved the 25,000-square-foot project, but the resident claims its approval was “illegal, arbitrary, capricious and constitutes an abuse of discretion for a variety of reasons.” [FBJ]

Developer seeks $20M in tax breaks for Yonkers mixed-use project
A developer who plans to build a mixed-use complex in Yonkers hopes to secure $20 million in tax breaks from the Yonkers Industrial Development Agency, LoHud reported. The project that developer Extell Hudson Waterfront plans to build on the Hudson River will include 1,395 residences, 48,280 square feet of commercial space within seven buildings, in addition to more than 1,500 parking spaces. Extell requested $15.4 million in sales tax breaks on construction materials and $4.9 in mortgage-recording tax breaks, claiming that it needs the subsidies “because of the high cost of conventional financing and the higher cost of development in Westchester County compared with other parts of New York,” the outlet reported. [LoHud]

Buyer shells out $4.25M for office building in Port Chester
A buyer has snapped up a four-story office building in Port Chester, LoHud reported. Port Chester Gateway LLC, an affiliate of Edmond deLaurentis Jr. of DeLaurentis Management Corp and James K. Coleman of Houlihan Parnes Realty, bought the building at 55 South Main Street for $4.25 million. They plan to renovate the facade and common area and improve the building’s landscaping, according to the outlet. [LoHud]