250 S Central Ave
Scarsdale, NY 10530

Cooper-Horowitz has been exclusively retained to arrange for the sale of a newly constructed, 51 unit, luxury residential, 5 story rental building in The Westchester hamlet of Hartsdale bordering the affluent village of Scarsdale as well as the more bustling city of White Plains—and offers its residents some of the best features of both, Recreational Facilities, Dining and Shopping. This class A, 46, 342 square foot asset features 51 residential apartment units with 2 passenger elevators, 95 parking spaces, As well as numerous amenities including 2 Theater Rooms, fully equipped fitness center, party room, grills, residential dining room, residential living room, FiOS Wi-Fi, storage units, a weekend doorman, as well as numerous other features. The residential breakdown of the property is a unit mix of 24 One bedroom apartments and 27 two bedroom apartments. Almost half of the units are greater than 1,000 square feet, thus creating an opportunity to optimize the efficiency of individual unit layouts. The building is 100% free market and has no tax abatements. The average rent is  $4,147, the average price per square foot $46 psf in the building. Currently there are 32 rented units. The projected net income for 100% occupancy, incorporating income from amenities is $1,724,672 which equates to a 7.1% Projected Cap rate. More About the neighborhood Dining & Shopping: Hartsdale features a variety of good restaurants within close proximity to "Glasshouse".  Residences can enjoy brick oven pizza, gelato, Mexican, Italian, Middle Eastern, Chinese, and Japanese cuisines. Hartsdale offers a large variety of shopping conveniences such as Bakery, H Mart, Trader Joe’s, Michaels, Marshalls, TJ Maxx, and one of few remaining operating farms in Westchester County, Westchester Greenhouses & Farm. Recreational Facilities:  Recreational opportunities abound with 19 tennis courts and 7 pools at the A.F. Veteren Park in nearby Ardsley. Residents can also swim in an indoor pool at the Fairview-Greenburgh Community Center in White Plains. The Scarsdale Golf Club, a private 18-hole course is near the train station. Several other courses are in the surrounding area. The Greenburgh Recreation Department offers a full range of sports and arts & crafts activities, as well as a 6-week summer day camp program.