Image rendering courtesy of Input Creative Studios
Cuddy & Feder Partner, Eon S. Nichols obtained IDA approval from the County of Westchester Industrial Development Agency (IDA) for an $83 million multi-family development in downtown White Plains. Eon obtained a 14-year PILOT as well as $2.7 million in sales tax exemptions and an additional $664,000 in mortgage recording tax exemptions.
The proposed project located at 1 Lyon Place and 10 Lyon Place in the City of White Plains, will involve the redevelopment of two vacant buildings previously used as a senior living facility/hotel into two multifamily rental buildings. The project will consist of approximately 149 units at the 1 Lyon building and 63 units at the 10 Lyon building. The unit mix will be 50 studio units, 128 one-bedroom units and 34 two-bedroom units.
About Cuddy & Feder LLP
Cuddy & Feder LLP proudly serves clients in the areas of real estate; public and private finance (including tax-exempt and taxable bond financing); litigation & appellate practice; land use, zoning & development; telecommunications; energy & environmental; cannabis law; non-profit organizations; and trusts, estates & elder law. For 50 years, we have established ourselves as the leading law firm serving a vast region that includes Westchester, New York City, Connecticut and the Hudson River Valley. Our foundation is local, and we enjoy enduring relationships with leaders, institutions and decision-makers in the communities we serve.