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Westchester Multifamily Investor Adds to Portfolio with Yonkers Duo

ERG Commercial Real Estate, a New York-based commercial real estate investment sales firm, has sold two adjacent multifamily buildings in Yonkers, NY for $4.55 million. 

The four-story buildings, at 502 and 508 Van Cortlandt Park Ave. in the McLean Heights neighborhood, feature 46 units and total 38,948 square feet. The buildings were built in 1927 and 1922. 

ERG managing director Ryan Lewis represented both the undisclosed buyer, a local investor who owns several multifamily properties in Yonkers, and the undisclosed seller. 

“The property was fully rent stabilized and had 14 vacant units at the time of the closing,” said Lewis. “Given that properties of this size do not come up for sale in Yonkers too often, the deal appealed to the buyer who already has a substantial multifamily portfolio in the area.” 


Inside The Story

ERG Commercial Real Estate's Lewis

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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