The Real Deal New York

Westchester & Fairfield Cheat Sheet: AMS buys Yonkers lot for $18.3M, Stamford Marriott sells for $31.6M … & more

By Maya Rajamani | November 07, 2018 04:40PM

Clockwise from top left: AMS buys lot in Yonkers for $18.3M with plans to build 14-story rental building; Stamford Hotel Propco LLC buys “distressed” Stamford Marriott hotel site for $31.6M; 24-story, 225-key “urban resort” hotel planned for entrance to New Rochelle; and a waterfront home in Larchmont with views of Long Island Sound sells for $10.3M.

AMS buys lot in Yonkers for $18.3M with plans to build 24-story rental building
New York City-based AMS Acquisitions LLC has snapped up a 50,000-square-foot lot in downtown Yonkers for $18.3 million, the real estate investment firm said in a release. AMS plans to build a 24-story rental building with 361 units at the site at 55 Buena Vista Avenue, which was once home to the Teutonia Music Hall. Last week, AMS said it planned to shell out $16 million to the City of Yonkers for the 6-acre Chicken Island parking lot, where it will build a mixed-use development and luxury hotel. “We believe these sites are some of the best locations in downtown Yonkers,” said a statement from Avie Abadie, a principal at AMS Acquisitions. AMS purchased the site on Buena Vista Avenue from Kohl Construction, according to the firm. [AMS]

Stamford Hotel Propco LLC  buys “distressed” Stamford Marriott hotel site for $31.6M
HD Realty Associates LLC is parting ways with the Stamford Marriott site in Stamford. The firm sold the hotel on Tresser Boulevard to Stamford Hotel Propco LLC for $31.6 million, the Fairfield County Business Journal reported. The outlet noted the new owner will have to deal with the “distressed” property’s financial woes. The Stamford Marriott has an outstanding mortgage of around $60 million and has faced foreclosure. The hotel was built in 1975 and houses around 500 rooms and approximately 26,000 square feet of meeting space, according to the FBJ. It wasn’t immediately clear what Stamford Hotel Propco is going to do with the hotel site now that it’s purchased the property. [FBJ]

NYC-based firm sells eight buildings in Yonkers to Scarsdale developer for $12.3M
A Scarsdale developer has bought eight rental apartments 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]

Berkshire Hathaway HomeServices New England Properties moves from one Westport office to another
Warren Buffett’s real estate firm has moved out of its office in Westport — but it’s staying in the neighborhood. Berkshire Hathaway HomeServices New England Properties vacated its office at 272 Post Road in favor of a waterfront space at the National Hall complex at 20 Wilton Road, the Fairfield County Business Journal reported. The firm’s agents moved into the approximately 4,400-square-foot space over the weekend, and the firm plans to celebrate its move at the end of the month, the newspaper reported. “We are thrilled to officially open the doors of our new Westport office and see this as a critical step for Berkshire Hathaway HomeServices New England Properties, as we reinforce our long-term roots in Westport,” Candace Adams, president and CEO of the firm’s New England, New York and Westchester Properties, told the outlet. [FBJ]

Waterfront home in Larchmont with views of Long Island Sound sells for $10.3M
A waterfront home in Larchmont has sold for $10.3 million, LoHud reported. The sale of the 9,050-square-foot house at 203 Hommocks Road “marked the highest price in Larchmont and Mamaroneck since 2006,” the outlet reported, citing a representative of Julia B. Fee Sotheby’s International Realty, which had the listing. The home, built in 1900 and known as “Low Wood,” houses 19 rooms, sits on 3.32 acres — including a beach — and “has recently been remodeled to orient the living spaces toward the water,” the outlet reported. The property also has gardens, a gazebo, a guest cottage and a heated pool. [LoHud]

24-story, 225-key ‘urban resort’ hotel planned for entrance to New Rochelle
A Dobbs Ferry developer is planning to build an “urban resort” at the entrance of downtown New Rochelle, according to the Westchester County Business Journal. D’Wayne Prieto, the managing partner and CEO of Ward Capital Management, hopes to bring a 24-story, 225-key hotel to 115 Cedar Street, he told the outlet. Wyndham Hotels Group will operate the hotel, which will be branded as a TRYP by Wyndham hotel. Prieto’s wife, Jewelle Prieto, was the founder and co-owner of a restaurant and nightlife spot called Don Coqui that operated out of the existing 1905-built building at the site for several years, the outlet reported. Prieto plans to “reuse” the building, which she envisions as a hotel with a rooftop pool and glassy facade. Ward Capital has already secured approval for a zoning amendment it needed to move forward with its plans. [WBJ]