Rose Associates and Battery Global Advisors have announced plans to develop a new building on a nearly four-acre parcel at 57 Alexander Street in Yonkers.
The joint venture is preparing to create 440 rental apartments in studio-, one-, two- and three-bedroom configurations.
The property is adjacent to the Metro North commuter rail and Amtrak train, and within walking distance of the retail and dining offerings in the city’s resurgent downtown waterfront district.
“57 Alexander Street embodies our vision of developing in vibrant areas that are close to transit and lifestyle amenities,” said Amy Rose, CEO of Rose Associates.
“What’s happening in Yonkers – the Alexander Street Master Plan, SoYo, and the riverfront – is very exciting and we’re pleased to be a part of it all.”
John O’Connor, CEO/CIO of Battery Global Advisors, said: “BGA is excited to partner with Rose Associates, a world class real estate operator and developer, on this project. We look forward to being part of the continuing development and growth of the already vibrant Yonkers waterfront community.”
Located within a Qualified Opportunity Zone, the development involves the razing of a former industrial property and the ground up development of a 440-unit luxury residential building.
Planned amenities include an outdoor heated swimming pool, roof deck with grilling stations and dining areas, fitness center with strength training and cardio equipment, golf simulator, game room and co-working resident lounge.
“Yonkers is the fourth largest city in the state of New York and it’s truly undergoing an economic resurgence,” said Michael Adamo, director, acquisitions at Rose Associates.
“The property we’re developing blends well with other developments that are transforming this once industrial area into a mixed-use, vivid neighborhood comprised of retail, residential and community spaces along the Hudson.”