Press Release brought to you by Cushman & Wakefield Capital Markets Group New York

Cushman & Wakefield Retained Exclusively to Sell Residential Development Opportunity in Ossining - 8-Acre Site on Hudson River

03/18/2015

Cushman & Wakefield has been retained on an exclusive basis to sell a development site at 36 North Water Street.  The property fronts the Hudson River in the Village of Ossining, Westchester County.  Ownership is requesting proposals.

The property consists of approximately 8.185 acres located adjacent to a 26-acre nature preserve.  There are preliminary plans for an approximately 185,000 square foot project to be built on 5.14 acres, zoned PW-a (Planned Waterfront District), where a vacant building is currently located.  The plans call for a 137-unit building that would consist of 25 one-bedroom units, 98 two-bedroom units, and 14 three-bedroom units, however more units could be built.  Waterfront approvals have already been received, and ownership is awaiting a final Environmental Impact Statement from the Village of Ossining.  The site would benefit from two 10% density bonuses for the inclusion of affordable housing and LEED Certification. An additional 3.045 acres, zoned CDD (Conservation Development District), will be included in the offering and can potentially be built upon allowing a developer to expand the project dramatically.

This future development will offer its residents a distinctive lifestyle, surrounded by lush natural landscaping and dramatic Hudson River views.  It is within walking distance to the Metro-North train stop which offers a 45-minute express ride to Grand Central.  This is an excellent opportunity to acquire a residential development opportunity with select permits already in-place.

This property is being marketed exclusively by Cushman & Wakefield’s James Nelson.

03/18/2015 - 20:30

Source

Cushman & Wakefield Capital Markets Group New York

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