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Deals & Dealmakers

GSA inks long-term renewal for Yonkers Social Security office

The U.S. General Services Administration has renewed its lease at 20 South Broadway, the Art Deco office building in the City of Yonkers owned by the family-operated Chestnut Commercial

The 10-year extension for 11,953 s/f comprises the entire fifth floor and a portion of the fourth floor. The space will house the Social Security Administration, a long-time tenant which will relocate from the 10th floor into a state-of-the-art facility to be constructed.

20 South Broadway is situated in the heart of Yonkers, within a short walk of the Metro-North station, and offers sweeping views of the Hudson River. The property houses several governmental agencies and not-for-profit organizations, including Westchester County Department of Health, Family Services of Westchester, Mental Health Association, Planned Parenthood, Visiting Nurse Service of New York and Yonkers Community Action Program.

“This lease is an affirmation of the value that we are creating at 20 South Broadway,’’ said Daniel Wiener, Senior Managing Director of Chestnut Commercial. “It shows that this important governmental agency appreciates the quality of the building, its central location, access to public transportation, on-site parking and professional property management.”

Howard E. Greenberg is president of Howard Properties Ltd., the exclusive leasing agent for 20 South Broadway, said, “We closed this deal during the lockdown period. The entire Chestnut Commercial team mobilized and accomplished finalizing test fits, negotiating the lease document and executing documents in about ten days while working from home.”

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