Cushman & Wakefield Exclusively Retained by American Sugar to Market 33-Acre Development Site
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 08 2026
0mins
Should l Buy CWK?
Cushman & Wakefield has been exclusively retained by American Sugar Refining to market for sale The Refinery District, a 33-acre waterfront development site located at 1 Federal Street in Yonkers, New York. The offering represents the final large-scale development opportunity along the Yonkers waterfront. The property, formerly home to the Domino Sugar Refinery, features more than 2,300 linear feet of direct frontage along the Hudson River, offering unobstructed water views and unparalleled scale in one of the region's fastest-growing waterfront submarkets. The offering presents a rare opportunity to develop a transformative mixed-use destination, with the potential to accommodate approximately 2,650 residential units across up to 2.6 million square feet, along with complementary retail, cultural and experiential uses.
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Analyst Views on CWK
Wall Street analysts forecast CWK stock price to rise
5 Analyst Rating
4 Buy
1 Hold
0 Sell
Strong Buy
Current: 14.500
Low
18.00
Averages
18.75
High
19.00
Current: 14.500
Low
18.00
Averages
18.75
High
19.00
About CWK
Cushman & Wakefield Limited is a global commercial real estate services firm for property owners and occupiers. The Company's segments include the Americas; Europe, Middle East and Africa (EMEA), and Asia Pacific (APAC). Its core service lines include Services, Leasing, Capital markets, and Valuation and other. For real estate occupiers, the Company offers integrated facilities management, project and development services, portfolio administration, transaction management and strategic consulting. Its leasing services consist of two primary sub-services: owner representation and tenant representation. It represents both buyers and sellers in real estate purchase and sale transactions, and it arranges financing supporting purchases. The Company provides valuations and advice on real estate debt and equity decisions to clients through various services, including appraisal management, investment management, and financial reporting.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Optimistic Market Outlook: Elliott Mulkin, Managing Director at Greystone, noted that tertiary markets like Tuscaloosa demonstrate durable multifamily fundamentals, and the financing solution will support the client's acquisition strategy while positioning the property for long-term performance.
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See More
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- Significant Financing: Greystone, in partnership with Cushman & Wakefield, has arranged $28.2 million in Freddie Mac financing for the acquisition of Landmark Apartments in Tuscaloosa, Alabama, highlighting the attractiveness and investment potential of the multifamily market in the region.
- Rich Property Features: Landmark Apartments is a 264-unit garden-style community built in 2007, situated on over 23 acres, offering a variety of unit types and amenities, including a resort-style pool and fitness center, catering to diverse tenant needs.
- Economic Impact: The property is located near major employers such as the University of Alabama and the Mercedes-Benz manufacturing facility, enhancing its economic foundation and expected to sustain tenant demand, supporting long-term rental demand and property value growth.
- Optimistic Market Outlook: Elliott Mulkin, Managing Director at Greystone, noted that tertiary markets like Tuscaloosa demonstrate durable multifamily fundamentals, and the financing solution will support the client's acquisition strategy while positioning the property for long-term performance.
See More
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- Financing Arrangement: Greystone, in partnership with Cushman & Wakefield, has arranged $28.2 million in Freddie Mac financing for the acquisition of Landmark Apartments, a 264-unit multifamily property in Tuscaloosa, Alabama, with a 5-year term and a 30-year amortization schedule, ensuring liquidity for investors.
- Property Features: Landmark Apartments, built in 2007, is a garden-style community situated on over 23 acres, offering a mix of one-, two-, and three-bedroom units along with a robust amenity package that includes a resort-style pool, fitness center, resident clubhouse, and outdoor gathering spaces, attracting a significant number of tenants.
- Market Potential: Tuscaloosa is anchored by the University of Alabama, a major economic driver, and is conveniently located near key transportation corridors and industrial employment centers like the Mercedes-Benz manufacturing facility, indicating sustained rental demand that supports the property's long-term performance.
- Investment Appeal: Landmark Apartments attracted strong investor interest due to its scale, location, and value-add potential, with Greystone's financing solution not only supporting the client's acquisition strategy but also laying the groundwork for the property's long-term success.
See More
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- Improving Absorption: Despite a negative overall office absorption of -4.0 million square feet in Q1, the four-quarter rolling absorption total reached +5.2 million square feet, indicating a strengthening demand, particularly with Midtown Manhattan's absorption at +8.5 million square feet, the highest in the nation.
- Vacancy Rates Stabilizing: The national vacancy rate held steady at 20.2%, with only a 5 basis point year-over-year increase, as 46 markets recorded declines, marking a significant shift in the market dynamics, especially in San Francisco and Midtown Manhattan.
- Declining Sublease Space: National sublease availability fell to 101 million square feet, down 25% from its peak in Q1 2024, indicating that tenants are recommitting to their spaces and making long-term decisions, gradually removing excess space from the market.
- New Supply at Historic Lows: New office completions dropped 40% year-over-year in Q1, with the four-quarter total at 16.3 million square feet, and the construction pipeline now represents just 0.3% of total U.S. office inventory, suggesting reduced market pressure and a need for creative solutions to meet future space demands.
See More
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- Quantitative Insights Group: Rodriguez will lead a multidisciplinary team focused on spatial analytics and advanced data science to support advisory services for institutional investors and occupier clients, enhancing decision-making efficiency and measurable client outcomes.
- Extensive Experience: With over 15 years in applied research and analytics, Rodriguez specializes in integrating geospatial data, econometric modeling, and machine learning to provide actionable market insights, driving strategic intelligence in the real estate sector.
- Commitment to Innovation: Rodriguez expressed that the establishment of the Quantitative Insights Group represents a clear commitment to innovation and data-driven advisory, looking forward to collaborating with the team to help clients make smarter decisions.
See More
U.S. Industrial Real Estate Market Stabilizes in 2026
- Strengthened Absorption: In Q1 2026, the U.S. industrial real estate market recorded a net absorption of 40 million square feet, a 52% increase year-over-year, indicating a recovery in market vitality following the peak in 2025, which enhances investor confidence.
- Improving Vacancy Rates: The U.S. industrial vacancy rate held steady at 7.0% in Q1, down 10 basis points from the peak in Q3 2025, suggesting a rebalancing of supply and demand dynamics, particularly in inland markets.
- Accelerated Rent Growth: The annual rent growth rate rose to 2.1% in Q1, up from 1.1% at the end of 2025, with 60% of markets reporting positive rent growth, reflecting sustained leasing demand, especially in high-demand inland distribution hubs.
- Slowing New Supply: New supply fell 27% year-over-year to 54 million square feet, the lowest level since mid-2017, indicating that while construction activity is increasing, the market is striving to maintain supply-demand balance, a trend expected to continue into 2026.
See More
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- Unique Development Opportunity: Cushman & Wakefield has been exclusively retained by American Sugar Refining to market a 33-acre waterfront development site in Yonkers, New York, representing the last significant large-scale development opportunity in the area, which holds substantial market value.
- Large Project Scale: The site has the potential to accommodate approximately 2,650 residential units across up to 2.6 million square feet, along with complementary retail, cultural, and experiential uses, expected to become a transformative mixed-use destination that drives regional economic growth.
- Convenient Transportation: Located just steps from both Yonkers and Ludlow Metro-North stations, the site offers direct connectivity to Manhattan in under 30 minutes, making it attractive to more residents and investors, thereby enhancing the area's appeal.
- Strong Market Demand: Approximately 2,000 residential units have been delivered in the surrounding area since 2018, indicating strong demand for amenitized, transit-oriented housing, aligning with Yonkers' long-term revitalization vision.
See More
