NEW ROCHELLE, N.Y. -- A development site in downtown New Rochelle recently sold, in a transaction valued at $2.8 million. Construction of a 71 unit luxury rental building is scheduled to begin in the spring.
Bill Eisenhut, with the real estate company Cushman & Wakefield, handled the sale. He said, "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."
The property, located between Cedar and North streets, can be easily accessed via the Metro North trains, Amtrak trains and the bus depot which is serviced by nine Bee Line buses. I-95 entrances and exits are also located less than half a mile away.
The site measures 110' by 149' and contains approximately 15,832 square feet. It's within a downtown mixed-use zoning district, and the site allows for over 63,000 buildable square feet.
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