Ariel Property Advisors has announced that the firm is exclusively listing the sale of 34 State Street, a 319,000-buildable-square-foot, fully entitled development site in a highly desirable area of Westchester County in Downtown Ossining, New York. The property is being brokered by an Ariel Investment Sales team including Victor Sozio, Executive Vice President and Co-Founder; Shimon Shkury, President and Founder; Michael Tortorici, Executive Vice President and Co-Founder; and Jeff Henley, Associate Director.

With approved plans in place, the six-acre, 412 feet by 365 feet lot is targeting $45 per buildable square foot and calls for the development of 189 units plus a state-of-the-art underground parking facility. The site is situated in one of the highest points of town and is around the corner from picturesque Downtown Ossining, one of just 14 New York State Cultural Heritage Sites. With close proximity to the Westerly Marina, Shattermuc Yacht Club and Ossining Boat and Canoe Club, the property enjoys water views of the Hudson River.

“Ossining and neighboring communities have seen huge growth over the past decade and the pandemic has precipitated even more demand in the area,” said Sozio. “This is a fantastic opportunity for an owner-developer to deliver a transit-oriented building, offering tenants the best of both worlds with a modern residential experience in the midst of a bustling downtown that is also close to nature—and easily commutable to New York City.”

The site is less than a five-minute walk to the Ossining Train Station, an approximately 45-minute commute to Grand Central, and two minutes from Route 9, with direct access to Manhattan down the Hudson River, as well as Routes 100,117,133 and 9A (Albany Post Road).

“This is a prime shovel-ready site in Westchester County” said Henley. “This unique opportunity allows developers to hit the ground running while minimizing carrying costs and delivering an impactful project with great investment upside.”

About Ariel Property Advisors

Ariel Property Advisors is a commercial real estate services and advisory company located in New York City. The company covers all major commercial asset types throughout the New York metropolitan area, while maintaining a very sharp focus on multifamily, mixed-use and development properties. Ariel’s Research Division produces a variety of market reports that are referenced throughout the industry. arielpa.nyc