Affinius Capital Provides $113M Refi for Yonkers Luxury Multifamily Building

Rose Associates and Battery Global Advisors opened the 440-unit Alexander Cross last year

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Yonkers continues to attract financing for its bevy of commercial real estate projects. 

A joint venture between Rose Associates and Battery Global Advisors just secured a $112.7 million refinance for Alexander Crossing, a 440-unit multifamily complex that recently opened in Downtown Yonkers, N.Y., Commercial Observer has learned. 

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Affinius Capital provided the loan. Walker & Dunlop’s Jonathan Schwartz, Aaron Appel, Sean Reimer, Keith Kurland, Adam Schwartz and Sean Bastian arranged the financing for the sponsorship group. 

In a statement, Affinius Capital Managing Director David Greenburg described Alexander Crossing as a “high-quality asset” in a desirable downtown neighborhood. 

“The product is well amenitized and has been well received by the market,” said Greenburg. “We are excited to continue our relationship with Rose Associates and to work with Battery Global Advisors.”

Set facing the famous New Jersey Palisades on the far side of the Hudson River, Alexander Crossing opened in 2023 at 57 Alexander Street. The 440-unit, seven-story complex features 119 studios, 218 one-bedrooms, 90 two-bedrooms and 13 three-bedrooms, in addition to more than 400 parking spaces. The building’s community amenities include a two-story social lounge and coworking space together with an outdoor pool, terrace grills, a fitness center, a game room, a sports simulator and a business center. 

Perhaps most enticing to residents, Alexander Crossing is next to the Yonkers Metro North train station, providing a 40-minute train ride into Grand Central Terminal in the heart of Manhattan. 

The building opened last year amid a veritable boom of multifamily development in Downtown Yonkers. 

Israeli-based Azorim is currently developing Miroza, a four-building residential complex totaling 520 units, and Hudson 44, its 27-story, multifamily tower. AvalonBay and Scott Rechler’s RXR have also completed buildings along the city’s waterfront district.  

All told, several New York City-based firms such as Extell and Medera have also entered Yonkers to either build new developments or repurpose old buildings since Mayor Mike Spano took office 12 years ago. 

Brian Pascus can be reached at bpascus@commercialobserver.com