OFFERING INTRODUCTION
This offering represents a unique chance to acquire a trophy asset with secure, high-quality tenancy in an irreplaceable location. Vernon Place Shops presents a compelling investment for discerning investors seeking long-term stability and appreciation in a fundamentally strong and protected market. The significant tenancy from Fresh Market and NewYork-Presbyterian provides a secure and reliable income stream, representing a substantial majority of the center’s revenue will reveal the inherent value proposition of owning commercial real estate in such a coveted market.
INVESTMENT HIGHLIGHTS
Dominant Anchors in a Fortress Market
The property boasts a significant majority of its income derived from Fresh Market, a high-end grocer catering to the affluent Scarsdale demographic, and NewYork-Presbyterian, a leading healthcare provider ensuring consistent traffic and stability. This strong anchor tenancy minimizes risk and provides a reliable income foundation in one of the highest barrier-to-entry markets nationwide.
Trophy Location in Scarsdale, NY
Situated in Scarsdale, Westchester County, this asset benefits from its location within an exceptionally affluent and supply-constrained market. Scarsdale’s stringent zoning, limited developable land, and strong community preservation efforts create a significant barrier to new retail competition, ensuring the long-term viability and desirability of existing commercial properties like Vernon Place Shops.
Captive Affluent Customer Base
Scarsdale’s demographics are characterized by high household incomes and strong purchasing power. Vernon Place Shops directly serves this affluent customer base, ensuring consistent demand for the goods and services offered by its tenants and supporting their long-term success.
Long-Term Tenants In-Place
Over 50% of tenants have been at the center for over 10 years, reducing turnover risk and providing stable cash flow.
MARKET OVERVIEW
SCARSDALE NY ACCOLADES
#1 Wealthiest Town
in New York
– Stacker
#1 Best Place to Raise a Family in Westchester County
– Niche
#2 Best Place to Live in Westchester County
– Niche
#5 Best Public High School Teachers in New York
– Niche
Eastchester-Scarsdale
The Eastchester-Scarsdale market, situated in southern Westchester County, represents an exceptionally affluent and highly desirable suburban enclave characterized by its prime location offering convenient access to New York City via Metro-North. Renowned for its top-tier public schools, picturesque residential neighborhoods, and strong community ties, the area attracts high-income professionals and families seeking a blend of suburban tranquility and urban accessibility. Fueled by the wealth generated from employment in high-paying sectors in nearby NYC and a robust local economy supporting professional services and retail, the market exhibits strong real estate values and limited commercial development opportunities due to stringent zoning and community preferences, creating a stable and high-barrier-to-entry environment for both residential and commercial properties.
Limited Supply + Barrier to Entry
Scarsdale’s stringent zoning regulations and limited developable land in Westchester County create significant barriers to entry for new commercial development. This scarcity protects existing retail centers like Vernon Place Shops from excessive competition, ensuring long-term tenant viability and property value appreciation within a highly desirable market.
Strong Local Economy &
Proximity to Major Employment Hubs
While Scarsdale is primarily a residential community, its residents are often employed in high-paying sectors within Westchester County and the nearby New York City metropolitan area. This economic strength underpins the stability of local businesses and ensures a consistent flow of affluent customers who both live and shop within their community and the broader Westchester region.
DEBT CONTACT
Andrew Marcus
First Vice President
(201) 787-6030
andrew.marcus@matthews.com
BROKER OF RECORD
Cory Rosenthal
LIC.# 10991237833 (NY)