The Real Deal New York

Eleven-unit Yonkers rental building sells for $2.2M

February 06, 2019 04:24PM

A week after the Yonkers Industrial Development Agency gave preliminary approval for $13.6 million in sales tax and mortgage relief to developers seeking to build 1,000 rental apartments in distressed downtown neighborhoods, an 11-unit rental apartment building at 11 Lawrence Street traded hands for $2.2 million, LoHud reported. Lawrence St. Yonkers LLC sold the building, which isn’t far from a Metro-North train station anchoring a Yonkers revitalization effort, to another anonymous limited liability company. Michael Nukho of NuRealty Advisors, which brokered the sale, told the outlet that the new owner plans to make improvements to the property to increase its value. [LoHud]