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.

MORE FROM Brokerage

Industrial Realty Group acquires 422,727 s/f distribution facility in south St. Paul

St. Paul, MN Industrial Realty Group, LLC (IRG) acquired a 422,727 s/f industrial distribution facility located at 411 Farwell Ave. in south St. Paul. The property was formerly the headquarters of The Sportsman’s Guide, an online and
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
New York’s streets are full again, and the retail numbers prove it - by Noam Aziz

New York’s streets are full again, and the retail numbers prove it - by Noam Aziz

Walk down any New York block this year and you can feel it. The sidewalks are crowded, the storefronts are lit, and the energy that defines this city is back at full volume.
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

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
Hunt commercial real estate question and answer: The total cost of relocation - by David Hunt

Hunt commercial real estate question and answer: The total cost of relocation - by David Hunt

You have a right to be concerned. I am always surprised at the companies that will negotiate the price of their new facility down to the last dollar, without thoroughly analyzing their
Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence (AI) is beginning to help transform lending by enhancing decision-making, improving risk management and streamlining operations. With AI-powered tools that analyze vast amounts of data, lenders are able to assess borrower creditworthiness more accurately and efficiently. AI can evaluate a wide range of factors,