News: Brokerage

The Huguenot targets millennials and empty-nesters; to open in fall 2020 in New Rochelle

Matthew O'Shaugnessy

The 54,000 s/f The Huguenot will be a six-story, 60-unit upscale mixed-use building at 387 Huguenot Street, in the center of the city's changing downtown area. The complex's units will include seven classified as affordable. There will also be ground-floor retail, a community art gallery and a covered parking garage. Rich amenities include a rooftop garden with grills and a dog run, a contemporary fitness room, a community room with a fireplace, bike storage, pet care spa and more. The apartments will range from studios priced starting at $1,900, one-bedrooms at $2,400 and two-bedrooms at $3,000. Apartments feature stainless steel appliances, hardwood floors, wifi-controlled thermostats, in-unit washer/dryer and built in closets. Some of the units will feature patios. According to its developer, CAC Realty of Rye, The Huguenot will be an ideal destination for millennials and down-sizing empty-nesters. I spoke with Frank Chechile of CAC Realty about the timing of all the development in New Rochelle. Commented Frank, "I think a lot of factors are the reason; the city's ability to foresee the opportunity to transform the downtown and what it would mean to the community. As we know, there is a need for more housing in New Rochelle. The Huguenot is what we consider to be a 'boutique' residence. It has all the amenities you could want." Frank adds, "All around the country there has been a discovery of transit oriented development.  That's the heritage of our community in New York. What's occuring now is a rediscovery of how important the transit hubs are in the fabric of the community." When asked about the seven affordable apartments offered at The Huguenot, Chechile said, "The development framework in New Rochelle asks developers to provide community benefits. As in our case, we're offering more affordable housing than is asked by the city. As well as dedicating one of our retail units to be a city-sponsored art gallery. New Rochelle as a community offers its residents al ot of amenities that make it highly desirable." The buildings moniker has deep historical value; New Rochelle was settled in 1688 by French Huguenots, a large number of them were artisans who came from the city of La Rochelle in France. Hence, New Rochelle. CAC Realty and Frank Chechile are enthusiastic about The Huguenot complimenting the city and they feel The Huguenot will only add to the city's downtown area. The structure will be officially launched and open this fall.

Matthew O’Shaughnessy is a contributing author, New Rochelle, N.Y.

READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Strategic pause - by Shallini Mehra and Chirag Doshi

Strategic pause - by Shallini Mehra and Chirag Doshi

Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent
Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian

Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian

Let’s be real: if you’re still only posting photos of properties, you’re missing out. Reels, Stories, and Shorts are where attention lives, and in commercial real estate, attention is currency.
Lasting effects of eminent domain on commercial development - by Sebastian Jablonski

Lasting effects of eminent domain on commercial development - by Sebastian Jablonski

The state has the authority to seize all or part of privately owned commercial real estate for public use by the power of eminent domain. Although the state is constitutionally required to provide just compensation to the property owner, it frequently fails to account
AI comes to public relations, but be cautious, experts say - by Harry Zlokower

AI comes to public relations, but be cautious, experts say - by Harry Zlokower

Last month Bisnow scheduled the New York AI & Technology cocktail event on commercial real estate, moderated by Tal Kerret, president, Silverstein Properties, and including tech officers from Rudin Management, Silverstein Properties, structural engineering company Thornton Tomasetti and the founder of Overlay Capital Build,