Cushman & Wakefield Tapped to Market Large-Scale Site on Yonkers Waterfront

Why It Matters

The transaction could unlock a transformative, mixed‑use development that adds thousands of homes and stimulates economic activity on Yonkers’ waterfront, positioning the city as a new hub in the New York metro region.

Key Takeaways

• 33‑acre Yonkers waterfront parcel now on market
• Potential 2,650 residential units, 2.6 M sq ft total
• Recent rezoning permits mixed‑use, transit‑oriented development
• Last large‑scale opportunity along Yonkers waterfront
• Cushman & Wakefield leads marketing for American Sugar Refining

Pulse Analysis

Yonkers’ waterfront has emerged as a focal point for urban revitalization, driven by proximity to Manhattan, expanding transit options, and a municipal push for higher‑density housing. Over the past decade, the city has approved several mixed‑use projects that combine residential, retail, and cultural amenities, aiming to create a self‑sustaining neighborhood rather than a purely commuter enclave. The 33‑acre site at 1 Federal Street, formerly part of American Sugar Refining’s industrial complex, represents the final undeveloped tract of this corridor, making it a rare, high‑visibility asset for developers seeking a flagship project.

The recent rezoning of the parcel unlocks mixed‑use potential, allowing up to 2.6 million square feet of combined residential, retail, cultural and experiential space. With an estimated capacity of 2,650 apartments, the development could add thousands of new homes to a market where inventory remains tight and prices continue to climb. Cushman & Wakefield’s Capital Markets team, known for orchestrating complex asset sales, brings deep buyer networks and valuation expertise, positioning the offering to attract institutional investors, sovereign wealth funds, and real‑estate operators focused on transit‑oriented projects.

If sold, the Refinery District could become a catalyst for further public‑private investment along the Hudson River shoreline, reinforcing Yonkers’ ambition to compete with neighboring waterfronts in New Jersey and Brooklyn. The project's scale offers economies of construction and the ability to integrate affordable‑housing components, aligning with state incentives for inclusive growth. Moreover, the proximity to the Metro‑North Hudson Line and planned ferry services enhances connectivity, making the site attractive for tenants seeking reduced commute times. Analysts expect the transaction to set a benchmark price for large‑scale, mixed‑use parcels in the New York metropolitan region.