NEW YORK CITY – Rose Associates, a real estate development and management company, has acquired 57 Alexander St., a six-acre development site in the Yonkers’ submarket for $23 million. The firm will develop a 440-unit residential building on the land that has a total buildable square footage of 300,000 and sits along the Hudson River waterfront.

The Altman Family, who disposed of the real estate from its portfolio, had a 75,000-square-foot warehouse on the development site. DJ Johnston, partner at B6 Real Estate Advisors, and Bill Eisenhut and Brian Whitmer of Cushman & Wakefield represented on their behalf.

Yonkers has gotten an injection of equity as of recent, mainly in its Downtown submarket where there has been a rapid increase in luxury development and overall investor appetite, Johnston tells GlobeSt.com.


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Mariah Brown

Mariah Brown is the New York Bureau Chief and Real Estate Reporter for GlobeSt.com, covering the New York Metro area, Northeast region and national real estate trends. She is responsible for producing multi-media content, including articles, podcasts and video. Before joining the GlobeSt team, she served as a New York Times fellow, reported for the Associated Press in New York and Philadelphia and several other New York City-based outlets.

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