Searching for a business for sale in Yonkers, NY? The city offers established food, retail, service and trade companies with loyal neighborhood customers, plus industrial firms near the river and rail lines. We help buyers find the right fit, test the numbers and close with confidence. See how DealPipe helps you buy a business.
Due Diligence Points in Yonkers
- Lease and landlord: remaining term, rent increases, assignment rights and whether the landlord will release the seller’s personal guarantee.
- Sales records: how reported revenue compares with tax returns and bank deposits, especially in cash businesses.
- Licenses: liquor, food service, health department and trade licenses that must be issued to the new owner.
- Staff: who the key employees are, how long they have been there and what they are paid.
- Local taxes: Yonkers adds its own income tax surcharge for residents, so ask your CPA how it affects your personal planning.
Paying for and Closing the Purchase
Once the letter of intent is signed, bring in your accountant and attorney to confirm earnings, taxes, the lease and every permit. For smaller deals, buyers often combine SBA 7(a) money with financing the seller agrees to carry. When assets change hands in New York, the buyer files a bulk sale notice (Form AU-196.10) with the state tax department ten or more days before closing; otherwise the buyer can be held responsible for unpaid sales tax. Each side’s attorney usually manages the closing documents. We coordinate the lender, the landlord and both parties so the date holds.
- Request the anonymous teaser and sign an NDA.
- Review the full offering memorandum and financial package.
- Visit the business and talk with the current owner.
- Present your offer and terms in a letter of intent.
- Finish diligence, close the loan and step in as owner.
Yonkers photos: ajay_suresh, CC BY 2.0, via Wikimedia Commons; cropped and resized.
