Randolph Rose, R.J. Rose Realty

Yonkers, NY More than a half a century ago, thousands of workers were busy manufacturing carpets in old factories along the banks of the historic Saw Mill River. In 1954, that all came to an end. But now, these 19^th Century landmark buildings, located in the former Alexander Smith Carpet Mills complex on Nepperhan Ave., have been transformed by arts enthusiast and New Rochelle native Randolph Rose and his family, now known as the Carpet Mills Arts District, or CMAD. The district has over 1.5 million s/f of commercial space and houses arts tenants and multi-use businesses.

Behind the walls of these massive brick buildings, Rose’s vision of an arts and furniture mecca is coming to life. The vintage building dated c. 1882, houses the three family businesses he runs with his wife, Ellen, and their three sons Austin, Jordan and Harlan: FEA Home; the Randolph Rose Collection; and R.J. Rose Realty. FEA Home has one of the country’s largest collection of Asian antiques, furniture, accessories and unique home décor from throughout China and Southeast Asia; the Randolph Rose Collection features hand-made lost wax cast bronze sculptures and fountains for homes, gardens and public spaces; and R.J. Rose Realty is a commercial real estate firm specializing in multi-tenant loft factory buildings.

Since the 1990’s, Randolph Rose and his family have played an integral and vital part in the revitalization of the downtown area. They have taken what was once a dark and drab neighborhood and turned it into a bright and thriving arts district that is becoming a true regional destination and real estate empire on the Hudson.

Randolph Rose, president of R.J. Rose Realty, recently sat down with the New York Real Estate Journal for a question and answer session.

Shown (from left) are: Adam Shultz, Artist and Arts Director at YOHO; Wilson Kimball, Commissioner of Planning and Development for the City of Yonkers; Randolph Rose; Yonkers mayor Mike Spano; and Michael Sabatino, Yonkers Minority Leader 3rd District.

Q: Of all the cities to purchase real estate, why Yonkers?

A: I always wanted to own a large building like 500-530 Nepperhan Ave. and with 170,000 s/f there was really no way to acquire something that large in Manhattan at a reasonable rate. Yonkers is a fantastic place to be and my family and I are so pleased to be a part of the city’s revitalization.

Q: 170,000 s/f is about the length of 10 football fields. You could have turned the space into condos or office space but you chose to turn it into a space for the arts. Why?

A: My family and I also own a furniture company and an antiques business. Over the years, we have acquired treasures from the Ming Dynasty and items from beyond the Great Wall of China. When you walk in and see all these great antiques, you’re literally stepping back in time. The space allows us to share this history with everyone and it’s inspiring for the 30 arts-based tenants who also occupy the building with us.

Q: The transformation isn’t just what’s inside the buildings, rather what you see outside as well. Tell us about that transformation and the $500,000 state grant the Carpet Mills Arts District was awarded to aid in the revitalization.

A: The grant was instrumental in adding some much needed light to the once dark and drab street. We are installing up-and-down lighting, which is so welcoming. We also plan to install banners to the exterior of the warehouse, which will help call the place out to all art lovers. In addition, we have an incredible working relationship with 11 other landlords who own buildings in the district and are excited about the transformation to make this a regional destination for tourism.

Q: You have also acquired other buildings in this same neighborhood?

Shown in the top row: (from left) are: Austin Rose, Randolph Rose, Harlan Rose and Jordan Rose.
Shown in the bottom row (from left) are: Ellen Rose and the family dog, Bentley.

A: Yes, we recently purchased 179 Saw Mill River Rd., a 208,000 s/f multi-tenant loft building. This building will also be dedicated to the arts and I would love to see this building become a landmark similar to the 5 Pointz building on David St. in Long Island City, which was formerly covered with graffiti murals before its demolition in 2014. This building was originally called the Worsted Building where all the wool was stored for carpet manufacturing. 

Q: What advice do you have for anyone thinking about investing in vacant warehouse buildings that could potentially transform an entire neighborhood?

A: My advice is that industrial warehouses can be a great investment. They are more stable than other real estate investments because there is less turnover. The overall length of leases are 3-5 years with some long term leases of 7-10 years. Industrial real estate is simple to operate with good returns on investment and typically low vacancy rates. Industrial real estate is flexible: where you can have offices, lofts, distribution, retail, artist galleries and restaurants.

Q: What’s next for you and the Carpet Mills Arts District?

A: I have four grandchildren waiting in the wings and all of us are focused on the future. Myself and nearly half a dozen landlords in the area are looking to attract artists and creative industries. We’d like to turn the neighborhood into a destination similar to Red Hook or Hoboken, lined with retail shops and places to eat. I would also love to see loft-style apartments in the district to drive street traffic and give my grandkids’ a place to stay close to work.

Shown (from left) are: Randolph Rose; Yonkers mayor Mike Spano;
Michael Sabatino, Yonkers Minority Leader 3rd District; and George Huang, owner of YOHO

Recently, the city changed zoning regulations, allowing vacant warehouses in the Carpet Mills Arts District to be converted into commercial and event spaces. Through the Empire State Development Grants Program, the district recently secured a $500,000 grant to make much-needed real estate improvements and push the bar even higher. The money will help our family breathe new life to the exterior of these buildings, including new signage, lighting, entry ways and landscaping.

Thanks in a large part to Rose and his family, the Yonkers real estate development is attracting new businesses and people to the area, who will soon be shopping, eating and spending money in an area where business had once gone cold.

If you’re looking to check out a neighborhood transformation like no other in Westchester County, then head to the Carpet Mills Arts District – calling all art lovers!