The Real Deal New York

NYC-based firm sells 8 apartment buildings in Yonkers to Scarsdale developer for $12.3M

November 07, 2018 06:13PM

A Scarsdale developer has bought eight rental apartment buildings in Yonkers for $12.3 million in a “package deal,” LoHud reported. Canvas Blue Development purchased the apartments — which house a total of 81 units — from New York City-based Rhodium Capital Advisors, commercial real estate brokerage firm NuRealty Advisors told LoHud. Three of the buildings are on Orchard Place, three are on Fairview Street, one is on Orchard Street and one is on Woodworth Avenue, according to the outlet. “Values are rising as investors see [Yonkers’] proximity to New York City,” NuRealty’s principal real estate broker Michael Nukho, who represented Rhodium Capital, told LoHud. “They see the capital invested in the Yonkers downtown.” [LoHud]