HFF Closes $148.5 Million Sale of 25-Story Apartment Tower in New York’s Westchester County to The DSF Group
November 10 2016 - 4:21PM
Business Wire
Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has
closed the $148.5 million sale of La Rochelle, a 412-unit, 25-story
luxury apartment tower in New Rochelle, Westchester County, New
York, to the Boston-based DSF Group.
HFF marketed the property exclusively on behalf of the seller,
255 Huguenot Street, Corp. The DSF Group purchased the asset free
and clear of existing debt.
La Rochelle comprises 43 studio, 142 one-bedroom, 185
two-bedroom and 42 three-bedroom units, including loft-style
apartments and penthouse suites. The property also has
approximately 6,000 square feet of ground-floor retail, a 422-space
parking garage and rights for the development of an additional
40-story residential tower. Amenities include an outdoor swimming
pool with sundeck, clubroom with fireplace, conference room,
state-of-the-art fitness center, yoga room and a landscaped
courtyard with grilling area. La Rochelle is located at 255
Huguenot Street in downtown New Rochelle adjacent to the New
Rochelle Transit Station, which provides Metro North and Amtrak
service to New York City.
The HFF investment sales team representing the seller was led by
senior managing director Jose Cruz, managing director Kevin
O’Hearn, directors Michael Oliver and Stephen Simonelli and
supported by senior managing director Andrew Scandalios.
“The DSF Group saw significant upside in the tower and the local
market,” stated Cruz. “Multifamily assets continue to attract core
and core plus capital to urban markets within the New York
area.”
The DSF Group President Josh Solomon added, “We are thrilled to
expand our presence in the New Rochelle submarket after having
already enjoyed tremendous success in the market with the purchase
of the adjacent 588-unit, 40-story Halstead New Rochelle
property.”
About The DSF Group
Since 2000, The DSF Group has invested more than $2.5 billion in
five million square feet of multifamily real estate and has quietly
become one of the most successful private real estate investment
firms in the country. These remarkable multifamily and mixed-use
properties epitomize the highest standard in fine residential
living and recreation. With unique designs, exclusive
transit-oriented locations and a focus on an extraordinary
selection of amenities and finishes, each of these projects
represent a bold opportunity for a company committed to excellence.
With offices in Boston and Washington D.C., three decades of
experience and a track record unrivalled in the industry, The DSF
Group is recognized as one of the preeminent multifamily investors
in the country. For more information, please visit us at
www.thedsfgroup.com.
About HFF
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE:
HF). HFF operates out of 23 offices nationwide and is a leading
provider of commercial real estate and capital markets services to
the U.S. commercial real estate industry. HFF together with its
affiliate HFFS offer clients a fully integrated national capital
markets platform including debt placement, investment sales, equity
placement, advisory services, loan sales and commercial loan
servicing. For more information please visit hfflp.com or follow
HFF on Twitter @HFF.
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version on businesswire.com: http://www.businesswire.com/news/home/20161110006451/en/
HFFJose Cruz, (973) 549-2000HFF Senior Managing
Directorjcruz@hfflp.comorOlivia Hennessey, (713) 852-3500HFF
PR Coordinator, Marketingohennessey@hfflp.com
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