Houlihan Lawrence Commercial sells 29-31 Palisade Ave. building for $1.175 million

Yonkers, NY Houlihan Lawrence Commercial negotiated the sale of 29-31 Palisade Ave. for $1.175 million. The two-story 8,400 s/f building on a 0.17- acre lot was the former location of The Salvation Army.

The seller was a New York City investment group, and the purchaser was a NYC development company with future plans to redevelop the site. Garry Klein, associate broker and regional manager of Houlihan Lawrence Commercial, represented the seller in the all-cash transaction.

“This property is in the heart of the Getty Square and Chicken Island redevelopment area of downtown Yonkers, with tremendous upside for a variety of uses,” said Klein. “This area is getting more attention as the development trend that started along the Hudson has now moved into downtown.” 

Klein also serves on the board of the Yonkers Downtown Business Improvement District.