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 New York, NY – A six-story, free-standing, 66,000-square-foot vacant elevator office building with 6,000 square feet of ground floor retail, situated at 45 South Broadway in the heart of Downtown Yonkers, is in Chapter 11 Bankruptcy and is on offer for sale through Eastern Consolidated.
Eastern’s David Schechtman, Esq., Senior Director and head of Eastern’s Bankruptcy and Distress arm, with Principals Eric M. Anton and Ronald A. Solarz, are spearheading the marketing initiative for sale of the property, which is an ideal candidate for retail and commercial redevelopment.
“45 South Broadway is in Chapter 11 Bankruptcy and will be sold completely unencumbered,” said Mr. Schechtman. “It’s rare to find a free-standing property that is vacant and offers light on all sides in such a stellar location, literally across from City Hall in the epicenter of Yonkers commercial district.”
Downtown Yonkers is undergoing a revitalization program that promises to make the town one of Westchester’s most vibrant small-scale cities. Public and private development programs conceived over many years are now coming to fruition as federal, state, county and city agencies have provided substantial funding that is now being followed by investments from private owner/developers. 45 South Broadway is situated amidst all this new development. Plus, the property, which overlooks the Hudson River, is only 15 minutes by car to White Plains, the new de facto center for commerce and government in Westchester, and only minutes by train from Manhattan, Connecticut, Long Island and New Jersey.
45 Broadway offers basement and mezzanine space and sits on a .29-acre parcel between Hudson Street and Nepperthan Avenue. Prior to vacancy, the building accommodated doctors, engineers, attorneys, financial services companies and management and government agencies. Cingular (AT&T) and T Mobile currently both lease roof/antenna space atop the building.
For further information about the offering, please contact Mr. Schechtman at Eastern Consolidated’s Midtown office, 212 499-7700, or (direct) 646-658-7352.
Eastern Consolidated
Founded in 1981, Eastern Consolidated has emerged as one of the country’s preeminent full-service real estate investment services firms, combining an unrivaled expertise in the greater New York marketplace with a worldwide roster of institutional and private investor clients. Over the years, it has been responsible for the acquisition, disposition and finance of all types of properties, including office and apartment buildings, lofts, factories, hotels, shopping centers, commercial and residential development sites, taxpayers, parking garages and lots, retail condominiums and air rights transfers.
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