20 South Broadway

Address: 20 South Broadway Yonkers NY 10701

Date Acquired: May 2007

Location Description:

Located in the heart of downtown Yonkers directly across from Getty Square this classic building is adjacent to City Hall. The site is also ten minutes from the Metro North Hudson Line and minutes from the Saw Mill, Sprain Brook and Cross County Parkways.

Building Description:

133,612 square foot, Class B office building located in the heart of downtown Yonkers. Ten Minutes from the Metro North Hudson Line and minutes from the Saw Mill, Sprain Brook and Cross County Parkways.

Major Tenants:

Bank of America
Westchester EOC
Social Security Administration
 

Investment Rationale:

SFC, a hybrid development company comprised of Struever, Fidelco, and Cappelli is planning a major three billion dollar re-development/re-gentrification project. Centered around the train station, water front and soon to be un-covered Saw Mill River, the project is designed to incorporate new residential, office and retail space that will make Yonkers the equivalent of Stamford or Norwalk, CT. When all three phases of the project are finished downtown Yonkers will be a new destination for young professionals, tourists, and commuter traffic. The project is scheduled to begin spring of 2008.

Partner: AEW Capital Management, L.P.