Yonkers, NY Arrow Real Estate Advisors arranged an $11.75 million land refinance on behalf of AMS Acquisitions for Teutonia Hall, a fully entitled mixed-use development site located at 41–65 Buena Vista Ave.

The financing was arranged by Arrow’s Morris Betesh, Alex Bailkin, and Andrew Rosenberg and provided by Israel Discount Bank (IDB). The loan refinances a 1.15-acre development site encompassing 1.13 million buildable s/f and planned for 906 residential units, ground-floor retail space, and structured parking.

Teutonia Hall represents one of the largest entitled multifamily development opportunities in the borough. Since acquiring the property, AMS Acquisitions has completed a rezoning effort that increased the site’s allowable density from 361 units to 906 units, enhancing its development potential. The project is expected to benefit from a PILOT agreement and will include a designated affordable housing component.

Upon completion, the development is planned to feature an extensive amenity package, including a fitness center, yoga studio, coworking spaces, makers space, children’s playroom, screening room, game room, sports simulator, resident lounge, sky lounge, and an outdoor amenity deck with a swimming pool.