Real estate developer AMS Acquisitions has secured $50.5 million of construction financing to build a 55-and-older multifamily community in Westchester County, Commercial Observer has learned.
OceanFirst Bank supplied the loan for AMS’s planned 180-unit development at 800 East Main Street in Yorktown, N.Y., that will mark the fourth location for the developer’s Sylvan Woods active adult brand. AMS is redeveloping the former office complex into a 217,194-gross-square-foot residential building offering one- and two-bedroom rental units.
