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12-14 N Broadway
Yonkers, NY 10701
Multifamily Property For Sale
·
24,625 SF
Investment Highlights
- 3 blocks to Metro North and under 30 minutes to Grand Central
- Boutique mixed-use asset in prime downtown location
Executive Summary
Lee & Associates NYC is pleased to present exclusively for sale two mixed-use buildings located at 2 Mill Street and 12-14 North Broadway, Yonkers, NY 10701 (the “Properties” or the “Portfolio”). Located in the historic Statesman and McCann buildings, SOYO Lofts consists of 25 residential lofts, as well as ground floor commercial space. The structure dates to about 1914 and has been converted to loft style apartments with high ceilings, large windows, in unit laundry, tenant controlled HVAC, and access to shared amenities such as a lounge, conference area, and fitness room. Mercantile Lofts at 12–14 North Broadway is a mixed-use loft conversion of a former commercial building originally built around 1965. The property contains approximately eight residential loft units above a ground floor commercial component.
Both properties are currently operating below market rents, presenting a clear opportunity to drive revenue through strategic rent increases, improved revenue management, and targeted unit upgrades. The oversized unit layouts, particularly at North Broadway, provide additional upside through reconfiguration and optimization of bedroom counts. At the same time, the Portfolio benefits from stable, in-place cash flow, offering a balanced profile of current income and future growth. Overall, the Portfolio represents a compelling opportunity to acquire well-located assets in a rapidly growing commuter market with direct access to New York City and meaningful potential for revenue growth.
8 loft units over ground floor commercial
Adaptive reuse of former commercial building
Opportunity to reconfigure units, adding to bedroom count and increase rental income
100% free market
Can be sold with 2 Mill Street Yonkers, NY 10701
Both properties are currently operating below market rents, presenting a clear opportunity to drive revenue through strategic rent increases, improved revenue management, and targeted unit upgrades. The oversized unit layouts, particularly at North Broadway, provide additional upside through reconfiguration and optimization of bedroom counts. At the same time, the Portfolio benefits from stable, in-place cash flow, offering a balanced profile of current income and future growth. Overall, the Portfolio represents a compelling opportunity to acquire well-located assets in a rapidly growing commuter market with direct access to New York City and meaningful potential for revenue growth.
8 loft units over ground floor commercial
Adaptive reuse of former commercial building
Opportunity to reconfigure units, adding to bedroom count and increase rental income
100% free market
Can be sold with 2 Mill Street Yonkers, NY 10701
Property Facts
| Sale Type | Investment | Lot Size | 0.21 AC |
| Cap Rate | 5.77% | Building Size | 24,625 SF |
| Property Type | Multifamily | No. Stories | 5 |
| Property Subtype | Year Built | 1965 | |
| Building Class | C | Opportunity Zone |
Yes
|
| Zoning | CBD | ||
| Sale Type | Investment |
| Cap Rate | 5.77% |
| Property Type | Multifamily |
| Property Subtype | |
| Building Class | C |
| Lot Size | 0.21 AC |
| Building Size | 24,625 SF |
| No. Stories | 5 |
| Year Built | 1965 |
| Opportunity Zone |
Yes |
| Zoning | CBD |
Property Taxes
| Parcel Number | 1800-002-000-02018-000-0048 | Improvements Assessment | $37,079 CAD |
| Land Assessment | $13,836 CAD | Total Assessment | $50,915 CAD |
Property Taxes
Parcel Number
1800-002-000-02018-000-0048
Land Assessment
$13,836 CAD
Improvements Assessment
$37,079 CAD
Total Assessment
$50,915 CAD
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