$12m sale a 'landmark' for buoyant Yonkers market.Marcus & Millichap Real Estate Investment Brokerage Company has announced the sale of Nepperhan Business Center and Nepperhan Plaza in Yonkers, N.Y., for $12,188,889. Ben Sgambati, a senior agent in the firm's New Jersey office, and James Dickerson, an agent in the firm's Manhattan office, represented the seller in the transaction, Allan Eisenkraft, president of Yonkers Industrial Development Corp. The buyers were brothers, Tony and George Huang, principals of Heights Real Estate in Manhattan. "These properties have an incredible variety of tenants, ranging from artists to a boxing gym and including industrial, apparel, lighting and framing businesses," comments Sgambati. "The seller did a lot of work to revitalize re·vi·tal·ize tr.v. re·vi·tal·ized, re·vi·tal·iz·ing, re·vi·tal·iz·es To impart new life or vigor to: plans to revitalize inner-city neighborhoods; tried to revitalize a flagging economy. these buildings and the surrounding area, and the buyers plan significant investments to take the properties to the next level." "This is a landmark deal in Yonkers and just another indication that the Westchester market remains extremely strong," comments Dickerson. Nepperhan Business Center, at 540-578 Nepperhan Ave., has 150,000 s/f of retrofitted light industrial, warehouse and mixed-use space in the former historic Alexander Smith Carpet Mills. Nepperhan Plaza, at 523-533 Nepperhan Ave., contains 15,000 s/ f of retail and office space. Less than 5,000 square feet is currently available for rent. The two buildings comprising Nepperhan Business Center date to the mid-1800s. In 1983, Nepperhan Business Center was given national historic landmark A National Historic Landmark (NHL) is a building, district, site, structure, or object, almost always within the United States, officially recognized by the United States government for its historical significance. status by the U.S. Department of the Interior. Nepperhan Plaza was constructed in 1989. Both properties are within the boundaries of the New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of State Yonkers Economic Development Zone. As a result, new and expanding businesses are eligible for wage tax credits, job training reimbursement Reimbursement Payment made to someone for out-of-pocket expenses has incurred. , property tax abatement A reduction, a decrease, or a diminution. The suspension or cessation, in whole or in part, of a continuing charge, such as rent. With respect to estates, an abatement is a proportional diminution or reduction of the monetary legacies, a disposition of property by will, when , sales tax sales tax, levy on the sale of goods or services, generally calculated as a percentage of the selling price, and sometimes called a purchase tax. It is usually collected in the form of an extra charge by the retailer, who remits the tax to the government. exemptions, special loan programs, special utility rates and other benefits. |
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