Teutonia Hall in Yonkers, New York

AMS Acquisitions to Develop $458 Million Teutonia Hall in Yonkers, New York

by Channing Hamilton

YONKERS, N.Y. — The Yonkers Industrial Development Agency (YIDA) has granted the final approval of financial incentives for Teutonia Hall, a $458 million project comprising two 41-story residential towers. AMS Acquisitions is the developer.

Teutonia Hall will offer a total of 906 apartment units, 91 of which will be affordable. Income restrictions on the affordable units were not disclosed. The property will also feature 2,900 square feet of street-level commercial space and 907 parking spaces. The lower six stories of the buildings will comprise a podium, which will serve as a parking facility for residents.

The project will be constructed in two phases. AMS Acquisitions plans to break ground on Phase I in September, with completion slated for December 2027. Phase II construction is anticipated to begin in December 2028 and complete in December 2031.

AMS Acquisitions received approval for $12.9 million in sales tax exemptions and $4.5 million in mortgage recording tax exemptions. The developer is also requesting a 20-year Payment in Lieu of Taxes agreement.

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