The Real Deal New York

Extell secures tax breaks for $502M Yonkers riverfront development

September 06, 2018 02:51PM

Extell Development Co. has snagged more than $21 million in tax breaks from the Yonkers Industrial Development Agency for a project along the riverfront in Yonkers, the Westchester County Business Journal reported. The incentives package comprises “$15.4 million in sales and use tax exemptions and $5.9 million in mortgage recording tax exemptions,” according to the outlet. The $502 million project will contain six buildings, 1,395 apartment units — including market rate and affordable units — and 51,800 square feet of commercial space. [WBJ]