Mixed-Use Development With Self-Storage, Health Club Proposed for Greenburgh, NY

Real estate developer Robert Martin Co. LLC (RMC) is in preliminary talks with Greenburgh, N.Y., officials to build a mixed-use development that would include a multi-story self-storage facility and a two-story health club. The project would involve tearing down a mostly vacant office building in the Tarrytown Corporate Center at 555 White Plains Road.

Real estate developer Robert Martin Co. LLC (RMC) is in preliminary talks with Greenburgh, N.Y., officials to build a mixed-use development that would include a multi-story self-storage facility and a two-story health club. The project would involve tearing down a mostly vacant office building in the Tarrytown Corporate Center at 555 White Plains Road.

The plan would also require rezoning the property, which is in a limited office building district. Representatives from RMC met informally last month with town officials to discuss the idea. RMC purchased the 135,000-square-foot office building in May for $5.4 million, according to a source. The structure has just one tenant, a contractor using the space temporarily to oversee construction of the Tappan Zee Bridge.

"Unfortunately, it's mostly vacant, which is not unusual in the Westchester [County] world these days," Mark Weingarten, an attorney representing RMC, told a source. Weingarten indicated the building would likely be completely vacant within 18 months.

A market study indicated the storage facility and health club would do well in that area, Weingarten said. The health club would most likely include a basketball court and swimming pool.

"I think this is a good idea," town supervisor Paul Feiner told a source. "Office space is difficult to rent out, and there are vacancies in older buildings on [New York State Route 119]. A fitness center and storage facility should have no negative impact on traffic and would be a great asset."

No timetable has been set for RMC to submit a formal application, though the company is expected to meet with the town again in a few weeks to continue discussions, a source reported.

Based in Elmsford, N.Y, RMC is a real estate development, investment and management firm. In 55 years of operation, the company and its affiliates have acquired and developed more than 20 million square feet of property, according to its website. Its portfolio includes industrial, office, residential and retail properties. The company also owns undeveloped land.

Sources:

TAGS: Zoning News
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