Mixed-use Yonkers property sells for $4.35M

The 25-unit mixed-use property at 1179 Yonkers Ave. in Yonkers was sold for $4.35 million.

The three-story property occupies nearly one full block on Yonkers Avenue and Richfield Avenue and consists of rental apartments and ground-level retail stores. Juster Development acquired the property in October 2014 for $4 million, which was considered a record-breaking transaction at the time it was completed. Juster cited the 2019 rent law changes as the primary reason for selling, adding that it is exiting the multifamily space and will be focused on retail space development.

Michael Scrima, director of Elmsford-based Redwood Realty Advisors, represented the seller and procured the buyer, The Nord Group.