Deeds and Leases

SFC’s promises on construction net $4M loan from Yonkers
Len Maniace
lamanice@lohud.com
YONKERS - The developers of a massive downtown redevelopment plan have won a $4.2 million loan that they’ve described as crucial, after pledging to add a residential tower and a fully built-out baseball stadium to their guaranteed construction plan.
The 400-unit building and 6,500-seat stadium were [...]

This story has been burning up the wires today. For a long time now the SFC $1.6 billion dollar plan to redevelop the Yonkers waterfront has been inching forward at a snails pace. Without getting too political here (and I DO have strong opinions on how this development has been moved forward to the present), [...]

Sad if not surprising news today. The huge Alexander Street development has been shelved due to the inability of the developer to obtain financing in this difficult lending environment. Several weeks ago they put a Class A office building in downtown Yonkers up for sale and what appears to be a distressed price.
This is a [...]