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Underhill Farms offers a truly rare opportunity to establish a restaurant or destination retail concept within a fully renovated historic mansion dating back more than 200 years. Once Mr. Underhill’s Mansion, this iconic 1800s building is currently undergoing a thoughtful renovation designed to restore its original luster while integrating modern infrastructure suited for today’s hospitality and retail users. This space makes a statement—a genuine throwback to another era—featuring the charm, scale, and architectural character that simply cannot be replicated in new construction. The main level offers up to approximately 4, 000 square feet of new and renovated space, ideally suited for a full-service restaurant, bistro, wine bar, café, or specialty food concept seeking authenticity and presence. The property is ideally positioned at the signalized corner of Underhill Avenue and Route 118, on the edge of downtown Yorktown Heights, offering outstanding visibility and accessibility. The location provides easy access to the Taconic State Parkway, making it a natural destination for both local residents and commuter traffic traveling through the area. Designed with restaurant users in mind, the renovation allows for modern kitchen infrastructure, including the ability to accommodate commercial venting, grease trap installation, and flexible kitchen layouts, while preserving the building’s historic details. The basement space is available as an optional component, offering valuable additional area for storage, prep, or back-of-house operations. Surrounded by established neighborhoods and a growing residential base, Underhill Farms benefits from strong daytime traffic as well as evening and weekend demand, positioning the property as a true destination dining location rather than a traditional inline storefront. Underhill Farms is not just a place to lease—it’s a place to create a legacy restaurant, rooted in history, community, and character. Restaurant Highlights Iconic 1800s mansion undergoing full restoration Up to ±4, 200 SF available on the main level Optional basement space for storage or prep Located at the corner of Underhill Ave & Route 118 Edge of downtown Yorktown Heights Easy access to the Taconic State Parkway Ideal for full-service, chef-driven, or destination concepts One-of-a-kind character you can’t recreate The space will be surrounded by the complex under development of Apartments, Condo’s and Townhouses with a built-in customer base plus close to Taconic State Parkway for easy access to a massive customer base. Ideal location for a restaurant and retail in Mr. Underhill's mansion next to a well known coffee shop.
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William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 914.494.1459
Vincent.DiMella@raveis.com
NMLS Mortgage Loan Originator ID 24240
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5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
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|---|---|---|---|
| Loan Amount | $28 | $28 | $28 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.625% | 6.625% | 5.750% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.133% | 6.739% | 5.952% |
| Monthly Tax Payment | $3,797 | $3,797 | $3,797 |
| H/O Insurance Payment | $75 | $75 | $75 |
| Initial Principal & Interest Pmt | $0 | $0 | $0 |
| Total Monthly Payment | $3,872 | $3,872 | $3,872 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.