Developer scores tax breaks for $177.3M Yonkers project

Oct.October 09, 2019 02:30 PM


A Manhattan-based developer secured a number of financial incentives for a $177.3 million apartment project in Yonkers, the Westchester County Business Journal reported. Rose Associates is planning to build a 7-story building with 440 rental apartments and 443 parking spaces on 6.16 acres of land on the Yonkers riverfront. Incentives approved by the Yonkers Industrial Development Agency include “a mortgage recording tax exemption of approximately $1.7 million for the mortgage loan or loans with an aggregate principal amount of $115.2 million,” according to the outlet. The developer will also get a handful of tax exemptions. [WBJ]

Related Articles


Montefiore to close Mount Vernon Hospital, build new $41M facility

New Rochelle home featured in “The Manchurian Candidate” sells

College of New Rochelle seeks buyer for campus amid bankruptcy filing — castle included

The HomeGoods property in Mount Kisco (Credit: LoopNet)

Mount Kisco HomeGoods property sells through 1031 exchange

“Officially haunted” Westchester home hits the market

Developer proposes mixed-use high-rise near the Port Chester train station

Equinox co-founder is seeking $8,888,888 for his Armonk home

Co-founder of Westchester’s Robert Martin Co. dies at age 90