A proposed apartment project that had won approval from the village of Tuckahoe last September is on the market, according to a listing from Cushman and Wakefield”™s Capital Markets Group. The asking price for the project was not disclosed. Cushman and Wakefield describes it as “shovel-ready.”
The development site is at 82 Wallace St. and covers approximately 0.62 acres. It was assembled from eight lots along Wallace between Maynard Street and Lime Kiln Road about one-half mile from the Metro-North Railroad”™s Harlem Line station in Tuckahoe. The approved development includes 32 dwelling units and 48 parking spaces.
Orange World LLC was the project”™s applicant as well as the owner of the land to be used for the project. Small, unoccupied structures on the site previously had been demolished. The application to build had been received by Tuckahoe on Dec. 20, 2018.
According to documents filed with the Westchester County Clerk, Orange World LLC, which has an address in Bronxville, sold a 50% interest in the property to Elide Maynard LLC, which has an address in Eastchester. The date of the transaction was June 1 of this year. The consideration shown on a deed recording and endorsement page was $1,553,482.69.
During an appearance before the Tuckahoe Planning Board when it was reviewing the proposed project, attorney Steven Accinelli of the Yonkers-based law firm Veneruso, Curto, Schwartz and Curto said the structure will have “two studio apartments, seven one-bedroom apartments, 20 two-bedroom apartments and three three-bedroom apartments. The building will also offer green and buffered community amenity spaces for the use and enjoyment of residents.”
He recalled that the project had first been discussed with village officials at an August 2018 workshop. “The planning board now has before it a comprehensive site plan that is the result of a truly collaborative effort between the applicant and the village representatives, especially the planning board and building department,” Accinelli said at the time.
One of the planning board members, David Barra, noted that what he described as dilapidated structures previously on the premises had been “viewed as an eyesore to the community.” The site plan approval resolution referred to the project as “a first-class proposal that will greatly enhance the premises and surrounding area.”
Cushman and Wakefield is highlighting in its offering materials that: the property is a fully approved site; a cohesively designed residential development; the area has strong demographics; the location provides ideal regional connectivity including convenient access to urban and suburban employment centers; and the surrounding area is appealing.
With the ConEd ban on new natural gas hookups in full swing, what are they going to use to heat the property?