R.J. Rose Realty, owner of the Nepperhan Design Center in Yonkers, recently added to its portfolio of former Alexander Smith Carpet Mills properties with the purchase of The Worsted Building at 179 Saw Mill River Road.
- 179 Saw Mill River Road in Yonkers.
The seven-story, 208,000-square-foot building was sold at an undisclosed price by Manner Warehouse Inc, which owned the former wool storage warehouse since the 1950s, according to a spokesperson for the buyer. The property is in the city”™s newly branded Carpet Mills Arts District.
Randolph Rose, president of R.J. Rose Realty, in a press releases said the property, currently occupied by only four tenants, is being renovated as a multi-use building for commercial tenants with artists”™ work lofts and space for technology companies or a professional school.
“When investing in real estate,” Rose said, “look at the following first: location, value, future development potential, leases, income potential and if the property has a story. ”˜The Worsted Building”™ has history dating back to the early 1900s, and revitalizing this beautiful building will add even more character to the new Carpet Mills Arts District in Yonkers.”
Rose”™s Nepperhan Design Center has 30 artists and arts and crafts-related businesses as tenants in its 170,000-square-foot complex at 500 and 530 Nepperhan Ave.
