Adler of Rand Commercial brokers $9.5 million sale of Yonkers development site

Yonkers, NY Paul Adler, Esq., SIOR of Rand Commercial brokered the $9.5 million sale of 1219 Yonkers Ave., the former site of the Kimball Theatre, where a residential development had previously been approved.

The property was acquired by developer Mark Stagg’s Stagg Group from 1219 Yonkers Avenue LLC, a joint venture of Aubrey Capital LLC and Empire General Contracting. The seller had received approvals from the city for a development known as The Kimball Residences.

Rand Commercial represented the buyer. William Cuddy, Jr. and Jacqueline Novotny of CBRE represented the seller.