Value-Add Townhome Complex Goes for $16M in Northern Westchester
Marcus & Millichap arranged the sale of York Farm Estates, a 77-unit townhome community in Yorktown Heights, NY. The asset sold for $15,750,000.
The firm’s Matthew Gault, Seth Glasser, Michael Turkiewicz and Michael Fusco marketed the property on behalf of HVT Realty and procured the buyer, Westchester Management LLC.
“The sale of York Farm Estates highlights the sustained investor demand for well-located, free-market, value-add multifamily opportunities in desirable suburban markets,” said Gault. “Situated in Westchester County, a high-barrier-to-entry location, the property had not traded hands in nearly four decades, making it a rare and highly sought-after offering. With substantial upside through unit renovations, the asset presented a compelling investment thesis aligned with today’s market trends.”
Gault added that the property spurred a competitive bidding process, given a scarcity of similar opportunities.
Built in 1996, York Farm Estates is a fully occupied apartment community at 1870 Baldwin Rd. in suburban northern Westchester.
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