(Read more on the multifamily market.)
YONKERS-A sale of two parcels of land that currently house foursingle-family homes will be developed into luxury condominium andrental units. GFI Realty Services Inc. of New York City brokeredthe sale of 1171 and 1189 Warburton Ave. in the city's waterfrontdistrict to ET Management & Realty Corp. of New York City.
Eric Jacobov, senior broker at GFI Realty, represented thebuyer, Jose Espinal, president of ET Management & Realty.Jacobov also represented the sellers: Dominic Loguidice, a localaccountant and real estate investor and Adam Ginsburg of GDCProperties of Hawthorne, NY. "Yonkers is hosting one of the largestredevelopment programs in the New York City metropolitan area withmore than $3 billion in projected development," Jacobov says. "Mr.Espinal is planning the construction of luxury condos and rentalunits on the land."
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
