NEW ROCHELLE, N.Y. -- A development site at 165 Huguenot St., between Cedar and North Streets in the City of New Rochelle in Westchester County, was sold in a transaction valued at $2.8 million.
The site measures 110-feet by 149-feet and contains approximately 15,832 square-feet. Sitting within a downtown mixed-use zoning district, the site allows for over 63,000 buildable square feet to be built. It is currently improved by a flex building that offers both office and warehouse space and features three loading bays.
The sale price equates to approximately $44.21 per buildable square-foot. Construction of a 71 unit luxury rental building is scheduled to begin in the spring. Ideally situated in downtown New Rochelle, the property can be easily accessed via the Metro North trains, Amtrak trains and the bus depot which is serviced by nine Bee Line buses. Additionally, entrances and exits to I-95 are located less than half a mile away.
“165 Huguenot is a transit oriented site that serves as a prime example of Westchester’s rising rental market. We received a strong amount of interest from both Westchester and New York City developers,” said Cushman and Wakefield’s Bill Eisenhut who exclusively handled this transaction.
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