A 33-acre stretch of the Yonkers waterfront that once revolved around the Domino Sugar refinery is officially on the market, and brokers say it could reset the look and feel of a big chunk of the city's Hudson River edge. Cushman & Wakefield is pitching the site as a mixed-use opportunity that could hold roughly 2,650 residences and as much as 2.6 million square feet of total development.
As reported by ConnectCRE, American Sugar Refining has tapped Cushman & Wakefield to market what is being branded as The Refinery District at 1 Federal St. The offering is being billed as the last large-scale development play along the Yonkers waterfront, with room not only for housing but also for retail, cultural and experiential uses that would round out the residential build-out.
What's on offer
Cushman & Wakefield's public listing labels the property the "ASR Yonkers Site" at 1 Federal St. and puts it out for sale with a "contact us" price. Brokers promoting the parcel emphasize the potential scale: about 2,650 units and up to 2.6 million square feet of development. According to Cushman & Wakefield, the firm's Capital Markets team will lead the marketing effort and is set to take the property out broadly to potential buyers.
"This is a truly generational opportunity to acquire the last significant development parcel along the Yonkers waterfront," Ryan Dowd said in materials quoted by ConnectCRE. That kind of language is aimed squarely at institutional players who can corral the capital, patience and approvals needed for a megaproject on the Hudson.
A long industrial past, a rezoned future
The property has long been home to the Domino Sugar refinery, which American Sugar Refining closed at the end of 2025, costing the community several hundred jobs and leaving behind a sizable industrial footprint on the river. Yonkers officials have already extended downtown mixed-use zoning to include the parcel and are weighing requirements for affordable-housing set-asides and waterfront open space, as reported by CBS New York.
What developers and neighbors should watch
Any sale is expected to trigger a public-review process, along with negotiations over jobs, public access and affordability. Neighbors and local leaders will be watching closely to see whether a future buyer leans heavily into housing, brings back some form of industry, or tries a hybrid approach. The ASR listing on Cushman & Wakefield keeps the pricing behind a "contact us" curtain, while observers point to recent waterfront efforts such as Extell's Hudson Piers as a rough gauge of appetite for large-scale projects, according to the Business Council of Westchester.
The listing opens a new chapter for a site that has defined Yonkers' riverfront for more than a century. With Cushman & Wakefield steering the marketing process, developers are expected to circle in the coming months, setting off a debate over what the next version of the waterfront should be. For now, the size of the parcel and its zoning give builders a rare blank canvas, and Yonkers leaders a complicated set of tradeoffs to sort through.
