December 10, 2018
Azure Partners and Harbor Group International, LLC acquired Halstead New Rochelle Metro North, a 40-story apartment tower in New Rochelle, NY, from The DSF Group for $259.4 million. The 588-unit, Class A transit-oriented property was completed in 2007 at 40 Memorial Hwy.
The 95%-occupied tower includes market-rate studio through three-bedroom units averaging 956 square feet. It is situated along Huguenot Street adjacent to the New Rochelle Metro North train station, and within walking distance to numerous shops and restaurants.
DSF purchased the property in November 2013 and implemented an amenity renovation program, including the delivery of a 40th floor sports club. It is the tallest apartment tower in Westchester County, and offers panoramic views of the Long Island Sound and Manhattan skyline.
HFF’s Jose Cruz, Stephen Simonelli, Kevin O’Hearn, Michael Oliver, JB Bruno and Andrew Scandalios represented the seller.
For comments, questions or concerns, please contact Dennis Kaiser