Luxury senior housing proposed for vacant Westchester office

Rentals, townhome condos to replace Yorktown complex

800 East Main Street and AMS Acquisitions' Avi Abadie (Town of Yorktown, LinkedIn)
800 East Main Street and AMS Acquisitions' Avi Abadie (Town of Yorktown, LinkedIn)

As the office market continues to sag in the wake of the pandemic, one developer is eyeing new life for one Westchester complex in the form of luxury senior housing.

AMS Acquisitions proposed converting the vacant office complex at 800 East Main Street in Yorktown into a senior housing development, the Westchester & Fairfield County Business Journals reported. The 35-acre property formerly served as the headquarters for Blue Book Network.

AMS proposed to the town board a development with 200 rental apartments and 50 townhome condominiums clustered separately. That would leave 15 acres of open space.

The apartments would span multiple buildings. Proposed amenities would include a clubhouse situated between the two housing clusters.

A zoning change would be needed for the project, however, as residential uses on the land are not permitted.

New York City-based AMS has its hands in many different Westchester projects, but gears many towards the multifamily market. In 2018, for instance, AMS purchased a 50,000-square-foot lot in Yonkers for $18.3 million. The firm planned to build a 24-story rental building with 361 units at the site.

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AMS’ portfolio spans more than 1 million square feet of retail, residential and office properties. The firm was founded in 2012.

Residential conversions have emerged as an intriguing option for developers looking to take advantage of a hot rental market and forego a decimated office market.

Silverstein Properties and Metro Loft Management are planning a conversion of the office building at 55 Broad Street in New York City, which would be one of the largest conversions since the start of the pandemic.

The developers teamed up to buy the Financial District office property from Rudin Management for $180 million. They want to turn the 30-story building into a 425,000-square-foot residential building with 571 market-rate apartments, a project expected to take three to four years.

— Holden Walter-Warner