Yonkers, NY

115-119 Morningside Avenue

Rehab/Teardown opportunity priced to sell at $675,000. Legal 6 family
located in North West Yonkers. Adjacent 50 x 100 lot for sale for
$175,000. Great for parking or to build an additional multi-family
home.

Please call Robin Lynch, Teardowns.com, at 914-315-6182 or email me at rlynch@teardowns.com.

Are they going to build the damn thing or what?!

The discussion never seems to end. On Sunday there was an article in the Journal News featuring the debate over the future of downtown Yonkers. The discussion was the second of 2 public hearings on the project's(The $1.6 billion Struever Fidelco Cappelli redevelopment plan of Downtown Yonkers) draft environmental impact statement. There were over 70 Yonkers residents who attended the hearing to voice their concerns.

There were 2 residents featured in the article. Donna moved to Yonkers when she was 2 years old and hasn't moved since, Michelle moved to Yonkers from Brooklyn in 1990 and has no plans of moving. Surprisingly their stances on the project are different and both have valid concerns.

I must side with Donna on this one. Although I do not live in Yonkers, I am a Real Estate Expert there and spend a lot of time and money there. I can't wait for the new project to begin, it will make Downtown Yonkers a major destination in Westchester County. I am not a huge fan of minor leaguse baseball but if not that then what, its still a great idea. Nor am I a huge fan of turning everything high end and luxury but look at Harlem. What would be great if there is a higher percentage of affordable housing being incorporated in the development plans? But again I think it's a great idea.

Although I agree with Michelle that Yonkers has way too much to offer for developers to ignore this great city but we I think we must strike while the iron is hot. New Rochelle, White Plains and even Port Chester have gotten a major face lift. Why not Yonkers? It's the largest city in Westchester, 4th largest in the state, closest to the city; I could go on and on... Why not Yonkers? And why not now?

Shelley Weintraub, vice president for the Greyston Foundation, which serves the city's poor with a combination of profit-making and charitable operations, said the downtown's current revival, which began in the late 1990s, has been painfully slow. Not acceptable!

As usuall comments and suggestions are always welcomed...

MICHAEL A. BROWN, REALTOR® - ASSOCIATE BROKER, WESTCHESTER COUNTY & THE BRONX

We are almost there...

Yonkers residents will get an additional 2 1/2 weeks to comment on the Struever Fidelco Cappelli $1.6 billion redevelopment plan of Downtown Yonkers. This plan entails the development of over 500 acres of the city. The goal is to reposition Yonkers as a regional destination, employment center and vibrant urban environment. AMAZING!

Mayor Phil Amicone doesn't seem to be too happy with the delay by the City Council. The mayor had called for the City Council to move on the project "as quickly as possible". I agree... City Council President Chuck Fresnic hopes the delay will give American Sugar Rifining the time it needs to complete its study. American Sugar Refining operates the Domino sugar plant on the Hudson River in Southwest Yonkers. The problem is that this plant is stones throw away from the proposed two 25 story SFC developed towers. The plant processes 4 million pounds of sugar which the new residents won't be too happy about! This could put their business in jeopardy.

Good luck Yonkers!!

As usual comments and suggestions are always welcomed...

MICHAEL A. BROWN - REALTOR® WESTCHESTER COUNTY, BROOKLYN & THE BRONX

Here is a lovely top floor unit in a desirable pet-friendly complex in Yonkers, NY. Just a short 6 minute walk to the Fleetwood Station on metro-north. It is a 1 BR/1BA unit with an ample 850 Sq. ft. of living space. It is close to transportation, highways and shopping. A Starbucks is scheduled to open on the block. So the area is becoming increasingly upscale.

The complex was built in 1925 in the desirable pre-war style. The complex has lovely gardens and a newly paved parking lot. The unit itself has been renovated as Soho chic but takes into account the classic features the complex has to offer. There is exposed brick in the living area with an open pass through to the kitchen creating a very open floor plan and a feeling of space. California closets provide ample storage.

The monthly maintenance is $717 with 67% tax deductible. The number of shares is 350. A 20% down payment is required.

Cost of Living:

Assuming that the buyer uses a conventional 30 year loan at 6% interest, and taking into account tax deductions, the overall outlay is each month would be rough $1250.00 This is very competitive with current rentals while giving the owner a chance to build equity.

Pet-Friendly Status:

There are no pet restrictions in this complex.

The proposed Struever Fidelco Cappelli redevelopment of Yonkers' downtown/waterfrontdistrict has caused sellers of commercial property in that zone to be a bit unrealistic in there pricing. Peter G. Klein, vice president of Fidelco Realty Group, said the developers have the property deals in place for the first phase of the $1.56 billion project but are assessing other sites for future development.

Will Yonkers stubborn landowners prevent future development in the area? One land owner was quoted to have asked for $2 million for .75 acres of land on Warburton Ave that lacked water views. CRAZY! Klein was also quoted he was unwilling to pay a premium today for property he would develop later. Could Yonkers end up looking like this in 5 years after all the developers have run out of money?

In order for Downtown/Waterfront Yonkers to flourish the surrounding neighborhoods will need to improve. Many of the pioneers like Peter Kelly's X2O on the waterfront will be forced to close if the neighborhood does not improve and/or continue to redevelop.

Comments and suggestion are always welcomed...

MICHAEL A. BROWN - REALTOR® WESTCHESTER COUNTY AND THE BRONX