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Yonkers Portfolio 2 Multifamily Properties Offered at $17,029,718 CAD in Yonkers, NY
Investment Highlights
- Rare value-add loft portfolio in Downtown Yonkers
- Located in historic, character-rich buildings
- 3 blocks to Metro North and under 30 minutes to Grand Central
- Authentic loft product with strong tenant appeal
- Positioned in a growing downtown submarket
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.
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.
Property Facts
| Price | $17,029,718 CAD | Number of Properties | 2 |
| Price / SF | $279.74 CAD / SF | Individually For Sale | 2 |
| Cap Rate | 5.75% | Total Building Size | 60,876 SF |
| Sale Type | Investment | Total Land Area | 0.42 AC |
| Status | Active |
| Price | $17,029,718 CAD |
| Price / SF | $279.74 CAD / SF |
| Cap Rate | 5.75% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 2 |
| Total Building Size | 60,876 SF |
| Total Land Area | 0.42 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
|
SOYO Lofts
2 Mill St, Yonkers, NY 10701 |
Multifamily | 36,251 SF | 1914 | $10,660,881 CAD |
| 12-14 N Broadway, Yonkers, NY 10701 | Multifamily | 24,625 SF | 1965 | $6,368,838 CAD |
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Yonkers Portfolio
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