Yonkers IDA Approves Resolution to Transform Vacant Warehouse into Work/Play Destination
The Board of Directors of the Yonkers Industrial Development Agency (IDA) recently approved a resolution of intent to provide financial incentives to Momentum Realty Acquisitions of Yonkers for the adaptive reuse of a vacant loft warehouse in the Carpet Mills Arts District. The light-industrial building at 222 & 252C Lake Street will be transformed into an office and entertainment complex called The Mill as part of Momentum’s plan. Damaged by a fire in 2017, the 55,000-square-foot building is to be renovated in two phases, with the first beginning in January. IDA financial incentives for the $11.7 million project include $240,513 in sales tax exemptions and $137,147 in mortgage recording tax exemptions. Target tenants include a coffee chain, a well-known co-working/incubator operator, fast food market, music recording studio, and others.
Scarsdale Eyes Downtown Redevelopment Proposals
Scarsdale is mulling over plans recently presented by seven major developers to overhaul an expansive plot situated just south of the Scarsdale train station, known as the Freightway Garage. The redevelopment plans stretch back to July, when Scarsdale requested that developers submit plans for the centrally located site currently serving as a 700-space parking lot. Plans presented late last month include a Toll Brothers proposal for a five-story residential tower and three-story parking garage. Other plans include a five-to-six story residential tower presented by Gateway and a 40,000 square foot retail and commercial space proposed by LMC.
RM Friedland Takes on Industry Vets to Establish New Division
Commercial real estate brokerage company RM Friedland has launched a new Investment Sales Division and taken on industry pros John Barrett and Marco Laia to help lead it. The Harrison-based firm named Barrett managing director of the new division, while Lala will serve as senior vice president. “Throughout our history, RM Friedland has identified opportunities in our key markets and has evolved in order to best serve our clients and these communities,” says RM Friendland president Sarah Jones-Maturo in a statement. “The expansion into Investment Sales is an organic next step for our company. We are thrilled with the experience and expertise that John, Marco and Team Lala bring to the table, and look forward to growing this area of our business in the years to come.”
Barrett brings with him seven years of experience at Massey Knakal, where he led the firm’s expansion into Westchester, and is the former Investment Sales Division head of Admiral Real Estate. Laia is a former partner at Massey Knakal as well as a former agent and team leader at Marcus & Millichap. He has personally handled the sale of more than 450 buildings with a total value over $1.5 billion. RM Friedland’s new division is already exclusively representing properties with an aggregate value in excess of $70 million.
Mercy College Expands and Rebrands Manhattan Campus
The Dobbs Ferry-based Mercy College will expand its Manhattan campus as part of its MercyManhattan rebranding. In a statement, Mercy said it would expand the school’s midtown space at 2 Herald Square to more than 95,000 square feet over the course of two years. The campus will be rebranded as MercyManhattan, and the site is slated to include increased academic space, dormitories, common areas, and courses. Landlord SL Green announced in a release that Mercy had signed a 30-year lease on the property. The transaction expanded Mercy’s presence from 55,000 square feet to more than 90,000 square feet.
Leros Point to Point Acquires Royal Coachman Worldwide
The Valhalla-based chauffeured ground transportation company Leros Point to Point recently acquired Royal Coachman Worldwide. The Denville, NJ-based Royal Coachman Worldwide will continue to operate in its original location. The addition of Royal Coachman Worldwide will help Leros strengthen its operations within New Jersey and expand the company’s fleet to more than 350 vehicles.
“We’re very excited about the acquisition. Jon Epstein and Amy O’Rourke have done a great job building an excellent team that provides the highest level of ground transportation services,” says Jeff Nyikos, CEO of Leros Point to Point and Royal Coachman Worldwide in a statement. “We could not have picked a better company and feel all of our clients will really benefit from our two teams merging together.”
Three Iona Students Earn Stanford Entrepreneurship Fellowships
Iona College students Alberto Goncalves, Tiara Griffith, and Elijah Ware are the recipients of prestigious Stanford University fellowships. The trio has been accepted into the University Innovation Fellows, which will train them to become entrepreneurs and help innovate higher education at their school. The fellowships’ application process involved a six-week analysis of the entrepreneurial mindset and operation of startups. Griffith is a management major, while Ware is a media major, and Goncalves majors in finance. The three are among students who have been chosen to participate in the UIF Program from 96 universities in 16 countries. Iona’s participation with Stanford’s program arose out of the 2017 founding of the Hynes Institute for Entrepreneurship & Innovation, the product of a $15 million gift from James and Anne Marie Hynes.
“Building an interdisciplinary entrepreneurship and innovation program together with our students is essential to the success of the Hynes Institute,” said founding program director of the Hynes Institute for Entrepreneurship & Innovation, Christoph Winkler. “Participating in the UIF Program has given our fellows access to an innovation network that helped them identify, design and implement entrepreneurial learning opportunities for all Iona students across the campus. Needless to say, we are very proud of our newly inducted fellows and all the gears that they have set in motion.”
Serendipity Laps Set to Open Co-Working Space in Westchester One
Westchester One, a 21-story office tower in central White Plains, is welcoming a co-working space leased by Serendipity Labs. The Rye-based company plans to occupy roughly 20,000 sq. ft. of space, which will include meeting rooms, a two-story co-working lab, and event space. Plans also call for wellness and quiet rooms. Meanwhile, Westchester One will be spruced up with new art galleries and a cafeteria.