AMS buys lot in Yonkers for $18.3M with plans to build a 24-story rental building

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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]