A historic Yonkers property that housed a string of popular restaurants over the years has been given a new life as a self-storage facility, the latest development by Hampshire Management Company (“Hampshire”), which owns and operates a commercial real estate portfolio across the tri-state area. This is the company’s first self-storage project. CubeSmart Self-Storage (“CubeSmart”) will serve as Hampshire’s third-party property manager.
After being vacant for more than 15 years, 1113 Central Park Avenue (the “Property”) was purchased by Hampshire in 2020 and repurposed from its original retail use to commercial/industrial use. The 164K-sf Property spans 5 stories and includes more than 1,100 climate-controlled storage units including a two-level lobby atrium space.
On Thursday, Yonkers officials, the developers, and local dignitaries gathered for a ribbon-cutting ceremony to mark the grand opening of the Property. “To see this property redeveloped after being vacant for so many years is a win for everyone,’’ said Yonkers Mayor Mike Spano. “By all accounts, this repurposing, with a very attractive building and in-demand use, should be a great success.’’
The City’s Industrial Development Agency helped make the project possible, by providing tax incentives that were instrumental in facilitating the construction of a property that should serve the community well.
Hampshire’s Managing Partner Greg Petrillo said that the team thought long and hard before deciding how to develop the Property. The new building has a gleaming, glass exterior that resembles an upscale office building. The Property’s exterior, which is comprised of an aluminum composite panel and stone veneer façade, along with a five-story glass curtain wall, truly distinguishes it from commodity self-storage construction.
“The idea was to make an impact’’ said Petrillo. “It’s a very visible piece of property, and we didn’t want it to be an ordinary building.’’
Before it was a Boulder Creek Steakhouse and a Ground Round in more recent times, 1113 Central Park Avenue was patronized by generations of locals as Marnie’s Supper Club, which closed in the 1940s and later became Patio Restaurant, and then the famous Tropical Acres nightclub.