AMS Acquisitions secured $50.5 million of construction financing for a new 55+ active adult community located at 800 E. Main St. in Yorktown, NY. The construction loan was provided by OceanFirst Bank N.A. The financing was arranged by Arrow Real Estate Advisors founder and managing partner Morris Betesh, SVP Alex Bailkin and analyst Andrew Rosenberg.
Representing the fourth addition to AMS Acquisitions’ Sylvan Woods active adult brand, the project involves the redevelopment of a former office building into a 217,194-gross-square-foot, four-story active adult development totaling 180 one- and two-bedroom units. Construction is expected to be completed in the second half of 2027.
“Sylvan Woods Yorktown offers downsizers the best of both worlds; a quiet tucked-away location with easy access to local conveniences,” said Ari Mitnick, director of acquisitions for AMS. “The location and resort like lifestyle will offer an unparalleled experience for downsizers in Westchester and the greater region.”
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