News:
Brokerage
Posted: December 3, 2019
Downtown New Rochelle development led by RXR and Cappelli
The "Queen City On The Sound" is getting it’s big real estate makeover. There is something new in the clear, fresh air that has led these two mega developers and others to build luxury residential buildings here. You may remember well it was veteran developer Mr. Cappelli who came roaring into our fine city previously with his glorious structural achievements Trump Plaza...The Lofts At New Roc and indeed New Roc City. In addition to his impressive real estate resume, Mr. Cappelli is also well known for his diligent and fine work in booming White Plains, NY where he has several holdings. Now, as we speak, The Cappelli Organization is gearing up for another return to New Rochelle in the form of The Standard, a sleek and luxurious 14 story residential offering targeting millennials. The Standard boasts some 4,000 s/f of prime retail space and is just a stones throw from another one if Mr. Cappelli’s towering achievements, Trump Plaza.
As a proud lifelong resident of New Rochelle, Mr. Cappelli’s return to our burgeoning city feels like a much needed tonic for what some view as a frenzy of new construction. I feel it’s great the seasoned developer has set his sights on our unique suburban city yet again. Indeed the city that gave this visionary his urban development start.
Also causing real estate waves in New Rochelle is Scott Rechler and his formidable RXR Realty. Their strong and luxurious 360 Huguenot seems to alot of people to feel like Park Ave. sophistication and class. No stone has been left unturned, right down to the modern and welcoming lobby, clever valet parking and more. RXR, long known for their modern residential buildings has set it’s sights on New Rochelle in grand fashion and it seems to have paid back in a major fashion. Upon receiving a tour of 360 Huguenot, one cannot help but feel the attention to detail that is apparent here. A state of the art gym, well constructed outdoor deck with full cooking capabilities, a formal meeting room with all the accompaniments and more. Then there are the unique and able to be defined only in their own terms apartments. Very tastefully designed right down to the high grade kitchen appliance’s and spacious living space. So...it’s 2019 and downtown New Rochelle is undergoing its massive real estate transformation. Build on!
Matthew O’Shaughnessy is a contributing author, New Rochelle, N.Y.
Tags:
Brokerage
MORE FROM Brokerage
Fireside Embroidery leases at 1245 Middle Country Rd. in Middle Island
Middle Island, NY Robert Raffa and Robert Monahan of Island Associates negotiated the 1,404 s/f lease for Fireside Embroidery in the Strathmore Shopping
Quick Hits
Columns and Thought Leadership
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian
There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,
A fresh start - by Shallini Mehra and Amit Doshi
For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman
July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.
