NEW ROCHELLE, NY (September 20, 2024) – City officials joined with LRC Construction today to celebrate a milestone in LCOR’s development of 247 North Avenue, a new 28-story residential tower in downtown New Rochelle.
A “topping out” ceremony signifying the completion of the final floor of the building was held with officials signing a steel beam and being cheered by several hundred construction workers who were treated to a BBQ lunch.
Attending the event were Peter Palazzo, President of LRC Construction, Anthony Tortora, Senior VP and Principal of LCOR, Acting City Manager Wilfredo Melendez, City Council Member Shane Osinloye and County Legislator Judah Holstein.
247 North Avenue will feature 307 luxury rental apartments in studio to two-bedroom layouts with 31 units reserved for households earning 80 percent area median income, as well as 1,800 square feet of ground-floor commercial space and parking for 257 vehicles.
The spaciously designed apartments offer stunning panoramic views of the Long Island Sound and Manhattan. A generous amenity package includes a variety of co-working spaces and tenant lounges, an outdoor pool, a professionally designed fitness center and yoga studio, a rooftop sky lounge and a conservatory.
247 North Avenue is located less than two blocks from the New Rochelle train station, which provides express Metro-North service to Grand Central Station and Amtrak service to Penn Station.
LRC Construction, an affiliate of the Cappelli Organization, is the general contractor for the property, which is located on an interior lot bound by Lecount Place to the north and North Avenue to the south.
247 North Avenue will be an all-electric property and one of the largest residential geothermal projects in New York. Rather than using fossil fuel-fired equipment, the geothermal system will provide heat and cooling throughout the property via a series of geothermal wells located deep under the building. This unique approach reduces carbon emissions and dramatically lowers utility costs. This will be LCOR’s second geothermal project.
“As general contractor of this outstanding project. We are very proud of our team of highly skilled and dedicated construction workers whose hard work is making this exciting and innovative residential project a reality,” said Peter Palazzo, President of LRC Construction.
ABOUT LRC CONSTRUCTION
LRC Construction, LLC is one of the leading general contracting firms in the tri-state area, with an extensive project portfolio exceeding $5 billion, and consisting of a balance of local institutions and national clients. LRC provides full-service general construction management services, including general contracting, design from concept to completion and pre-construction planning including estimating and budgeting. Also, the company offers Brownfield consulting and remediation and redevelopment. LRC Construction was ranked 15th on Crain’s list of the 30 largest construction companies in the NY metro region.
ABOUT LCOR
LCOR is a vertically integrated build-to-core, transit-oriented, multi-family operating company. Over its 40-year history, the firm has applied its comprehensive expertise across development, operations and investment management for more than 300 large-scale mixed-use projects throughout the East Coast.
$650M Project Transforming Former White Plains MallSite into Mixed-Use, Transit-Oriented and Amenity-Driven Residential Complex
WHITE PLAINS, NY (August 26, 2024) — Senior Executives of the Cappelli Organization, RXR and Korman Communities joined with dignitaries from Westchester County and the City of White Plains today to celebrate the topping out of AVE Hamilton Green, a $650 million mall-to-housing conversion project that transforms the former site of the White Plains Mall into a state-of-the-art, mixed-use residential development.
“The Cappelli Organization is pleased to join with our development partners and our partners from the City of White Plains and Westchester County, as we celebrate the reimagination of this key property in the heart of downtown,” said Louis R. Cappelli, President of the Cappelli Organization. “As the image of the former White Plains Mall quickly fades, our entire team takes great pride in building the new residential towers and with them bringing the promise of new opportunities for hundreds of residents and a new vitality to downtown.” He added, “A prior developer started working on this project seven years ago and we got involved three years ago. We are very proud today as we celebrate a significant milestone of this magnificent new development.”
“Today marks an exciting milestone in the development of Hamilton Green and for the city of White Plains,” said Joseph Graziose, Executive Vice President of Development Services at RXR. “This project reflects RXR’s commitment to creating vibrant, sustainable communities while providing world-class residential services. This achievement would not have been possible without the longstanding partnership and collaboration we’ve built with the Cappelli Organization and LRC Construction. Together, we’ve continued to push the boundaries of residential development, and we’re excited to see Hamilton Green become a centerpiece of the White Plains community.”
To the soaring sounds of the National Anthem, a “topping out” ceremony signifying the completion of the final floor of the building was held with officials and several hundred construction workers cheering as a 30×60-foot American flag was unfurled from the two-tower development.
AVE Hamilton Green will bring elevated apartment living to White Plains, with a variety of floor plans ranging from studio, 1, 2 & 3 bedroom to unique bi-level loft and penthouse layouts, including fully furnished apartments with flexible lease options for stays of 30 days or longer, couple with AVE’s award-winning service and state-of-the-art community amenities Apartments are thoughtfully designed with contemporary, premium features including floor-to-ceiling windows equipped with View Glass, a dynamic smart glass transitioning technology that delivers optimal natural light throughout the day offering sweeping views of the region; stainless steel appliances; soft-close, wood cabinetry; quartz countertops and backsplashes; stainless steel appliances; generous walk-in closets; and durable, wood-inspired vinyl plank flooring.
Community amenities include co-working spaces equipped with high-speed Wi-Fi; 24/7 fitness centers with dedicated studio space; a spa offering private massage and infrared sauna rooms; a golf simulator; TV and gaming lounges; an indoor pool; a speakeasy; courtyard space with grilling stations; a pet spa and indoor run; and a lush landscaped 1+ acre plaza.
“AVE Hamilton Green marks a momentous occasion for Korman Communities as the organization returns to Westchester County for the first time in over a decade,” said Bradley Korman, co-CEO, Korman Communities. “Working closely with RXR and the Cappelli Organization, Korman is committed to bringing the finest living experience alongside world-class amenities for our residents. We are incredibly excited to be celebrating this milestone in the project and are looking forward to welcoming new residents within our community.”
Situated three blocks from the newly renovated White Plains Metro-North Train Station and one block from the White Plains Central Business District, AVE Hamilton Green is comprised of four mixed-income, multifamily buildings totaling 860 rental units. This includes 78 on-site affordable units, accessible open space and a variety of dining, retail and commercial spaces.
Westchester County Executive George Latimer said: “We are thrilled to have reached this important milestone in the long-awaited project to transform the White Plains Mall into something both residents and visitors to Westchester can enjoy. Hamilton Green is a development that appeals to everyone, combining residential units, retail space and restaurants with the walkability of downtown White Plains. We thank the Cappelli Organization and RXR for their vision for this project and look forward to cutting the ribbon on Hamilton Green in the future.”
White Plains Mayor Tom Roach said, “The City of White Plains continues to transform idle, underperforming downtown sites into vibrant, pedestrian-friendly spaces. Hamilton Green will move forward our goal of bringing more energy to the transit district, providing housing, retail and dining opportunities to residents and visitors alike. We are pleased to celebrate this major milestone.”
AVE Hamilton Green is the latest major project underway in Downtown White Plains by The Cappelli Organization and its LRC Construction division. Other LRC Construction projects in White Plains include the recent completion of The Mitchell, a mixed-use project featuring two 15‑story buildings and one six‑story building at 133 Mamaroneck Avenue. The project has 434 residential units plus ground-floor retail and restaurants. LRC Construction is currently building for Greystar Real Estate Partners an 804,000‑square‑foot mixed‑use residential complex at 25 North Lexington Avenue with 500 luxury and affordable rental apartments and 19,000 square feet of ground‑level retail space. The Cappelli Organization is also partnering with Pacific Retail Capital Partners and Aareal Bank, owner of The Galleria at White Plains, for the redevelopment of the former mall into District Galleria, a $2.5 billion mixed-use development offering housing, retail, open space and other public amenities.
RXR continues to establish its presence in Westchester County, as master developer of Downtown New Rochelle having recently opened Two Clinton Park, a 28-story residential building featuring 390 rental apartments in studio to three-bedroom layouts, nearly 24,000 square feet of amenities, and more than 7,500 square feet of retail space in the lower levels. The property is a short walk to the southeast of the New Rochelle Metro-North train station. Its adjacent sister tower One Clinton Park is a 28-story mixed-use tower with 352 apartments. It is fully leased.
AVE Hamilton Green is slated for a phased completion in 2024 and 2025. It features two residential buildings: 25 Cottage, a 12-story, 170-unit building and 5 Cottage, a 26-story, 307-unit tower. AVE Hamilton Green includes a 559-space underground parking garage, 55,000 square feet of open space and 39,000 square feet of commercial space. Phase II of development will bring 390 residential units, 405 self-park parking spaces and 45,000 square feet of commercial space. Pre-leasing of the apartments of AVE Hamilton Green is underway. For more information visit https://www.aveliving.com/locations/new-york/hamilton-green/overview
About The Cappelli Organization
A prominent leader in real estate development and construction in the northeast, the Cappelli Organization has a proven 40-year track record of excellence. Centrally located in Westchester County, New York, the company has successfully completed over 40 million SF of development including mixed-use, retail, waterfront, residential, hotel, restaurants, office, industrial, laboratory and parking facilities, representing a value in excess of $10 billion dollars. The company has a current development and construction pipeline in New York and Connecticut of over $2 billion dollars of projects. The Cappelli Organization and its wholly owned subsidiaries, Cappelli Development Company and LRC Construction, offer a fully vertical development and construction team with a staff of proven professionals covering every discipline of development and construction. Personalized involvement, attention to detail, creativity, concern for scheduling, safety, quality control and cost containment are all essential components of a successful development and are the hallmarks of The Cappelli Organization philosophy. For more information about The Cappelli Organization please visit www.cappelliorg.com.
About RXR
RXR is an innovative real estate investment manager, operator, developer, and place-maker committed to applying a customer and community-centered approach to acquiring, operating, and building properties and to providing services and products that create enduring value for all stakeholders. Headquartered in New York with a nationally-scaled platform, RXR is an approximately 450 person, vertically integrated investment manager with expertise in a wide array of value creation activities, including acquisitions, asset and portfolio management, property operations, development, construction, leasing, and technological innovation. RXR is an active investor in real estate credit, rental housing, commercial property, and property technology through value-added and opportunistic investment strategies. The RXR platform manages 107 commercial real estate properties and investments with an aggregate gross asset value of approximately $17.1 billion, comprising approximately 30.5 million square feet of commercial properties, a multi-family residential portfolio of approximately 9,800 units under operation or development, and control of development rights for an additional approximately 3,000 multi-family and for sale units as of June 30, 2024. Gross asset value compiled by RXR in accordance with company fair value measurement policy and is comprised of capital invested by RXR and its partners, as well as leverage.
About AVE and Korman Communities
Korman Communities is a fully integrated, fifth-generation, 100-year-old real estate investment and property management company with nearly 40 properties across the United States and London. AVE specializes in elevated apartment living for discerning renters and individuals seeking a flexible living solution for business or personal lifestyle. AVE conveniently offers traditional unfurnished apartments along with fully furnished apartments with flexible lease options. Each community features a dedicated service team and unparalleled business, wellness, and entertainment amenities such as flex workspaces with gigabit Wi-Fi; resort pools; firepit lounges; 24-hour, state-of-the-art fitness centers; wellness classes; bike share; tranquility gardens; pet spas and parks; media theaters; and outdoor gaming and recreation. Ranked the No. 1 property management company in the U.S. based on renter satisfaction in 2023 and 2024, AVE provides comfort and seamless living for those who want to LIVE BETTER™. www.aveliving.com.
All-electric tower will deliver 324 multifamily units of green urban living with 98 designated for middle-income housing and 55,000 square feet of academic space for Long Island University
WHAT: RXR, a leading real estate owner, operator and developer, will be celebrating the topping out of 89 DeKalb, a new all-electric residential development located at 89 DeKalb Avenue in Downtown Brooklyn.
The 30-story, 324-unit residential tower, which will provide both affordable and market-rate housing along with state-of-the-art amenities and academic spaces for Long Island University (LIU). 89 DeKalb is the second phase of the collaboration between RXR and LIU following their successful partnership on the nearby residential tower The Willoughby, which brought 476 units to the market in 2021 as well as an adjacent athletic field and parking for 564 vehicles.
WHEN: Tuesday, August 13, 2024, 12 pm
WHERE: 89 Dekalb Ave., Brooklyn, NY 11201
WHO: Rebecca D’Eloia, Executive Vice President, Project Executive, RXR, Peter Palazzo, President of LRC Construction & Dr. Kimberly R. Cline, President of Long Island University.
Five story lobby at 100 Summit Lake Drive, Valhalla, NY
VALHALLA, NY (March 2024) – The Summit, a 750,000 square foot corporate campus in Valhalla, has announced signing new leases totaling 13,313 square feet at 100 Summit Lake Drive, Valhalla.
The Academy of Management, Inc is leasing 6,850 square feet of office space. It is a preeminent professional association for management and organizational scholars. The company is moving from Briarcliff Manor and was represented by Michael J. McCall, Senior Vice President at CBRE.
AI Engineers is leasing 4,207 square feet. The company is moving from Elmsford and is a multidisciplinary firm that delivers innovative engineering solutions. The tenant was represented by Howard Greenberg of Howard Properties Ltd
Ronald Johnn, CPA has leased 2,256 square feet. The firm assists taxpayers and small businesses with taxes. It is relocating from Columbus Avenue in Valhalla and was represented by Craig S. Ruoff, Executive Vice President at Colliers International
The Summit is a prestigious three-building office park located on 102 acres of beautifully landscaped grounds, woodlands, and lakes, combining a unique business environment and extraordinary amenities. The Summit’s renowned tenant roster includes high-caliber corporations and Fortune 500 companies.
Amenities include private shuttle service to White Plains train station, full-service cafe and catering, covered on-site parking with charging stations, fitness facility with locker rooms and showers and on-site ownership. Conveniently located off Columbus Avenue in the Town of Mount Pleasant, The Summit provides easy access to the Sprain, Saw Mill, and Bronx River Parkways, as well as I-287 and
I-684 and is minutes to Westchester County Airport.
NEW ROCHELLE, NY (December 6, 2023) — Building on the momentum of success of its 3THIRTY3 luxury residential tower in the heart of downtown New Rochelle, Cappelli Development Company has announced the opening and commencement of leasing at Encore, a 28-story residential tower directly across Centre Avenue from 3THIRTY3 featuring 241 spacious luxury apartments and an extraordinary array of best-in-class amenities and services.
Encore’s spaciously designed apartments feature luxury vinyl plank flooring, quartz countertops and full height backsplashes, stainless steel appliances, full-size washers and dryers, run-quiet dishwashers, porcelain tile showers and baths and walk-in closets with built-in shelving. Floor-to-ceiling windows provide panoramic views of Long Island Sound and New York City. Apartments boast a smart home technology package with keyless entry, central heat & air conditioning, programmable smart thermostats as well as cable and high-speed internet connectivity. Monthly market rents for apartments at Encorestart at $1,910 for studios; $2,540 for 1-bedroom units and $4,250 for 2-bedroom units.
Encore offers an abundance of luxury amenities including a health club with cardio and weight training equipment; indoor/outdoor pool; full-swing multi-sport simulator; indoor putting green; multimedia lounge; rollerball mini bowling alley; ping pong lounge; co-working spaces and a children’s play room. For entertaining, there’s a professional chef’s event kitchen as well as an outdoor grilling area with pizza oven.
Luxury services include 24/7 concierge with package room; dry cleaning service; on-site garage parking; electric vehicle charging stations and exclusive access to two Tesla vehicles. Encore, which is pet friendly, provides a pet spa and grooming station. There is also a bike repair and storage room. Common areas have complimentary high-speed wi-fi service.
Conveniently located at 325 Huguenot Street, Encore is just 3 blocks from New Rochelle’s Train Station with Metro-North and Amtrak service. Encore is also minutes from New Rochelle’s wealth of dining and shopping options.
“Encore will build on the tremendous leasing success we have enjoyed with 3THIRTY3 while continuing to elevate luxury living to new heights in downtown New Rochelle which is experiencing an extraordinary renaissance,” said Louis R. Cappelli, Chief Executive Officer of the Cappelli Organization. Encore is being developed by Cappelli Development and built by a Cappelli affiliate, LRC Construction.
A prominent leader in real estate development and construction in the northeast, the Cappelli Organization has a proven 40-year track record of excellence. Centrally located in Westchester County, New York, the Company has successfully completed over 25 million SF of development including mixed-use, retail, waterfront, residential, hotel, restaurants, office, industrial, laboratory and parking facilities, representing a value in excess of $10 billion. The company has a current development and construction pipeline in New York and Connecticut of over 25 million square feet. The Cappelli Organization and its wholly owned subsidiaries, Cappelli Development Company and LRC Construction, offer a fully vertical development and construction team with a staff of proven professionals covering every discipline of development and construction. Personalized involvement, attention to detail, creativity, concern for scheduling, safety, quality control and cost containment are all essential components of a successful development and are the hallmarks of the Cappelli Organization philosophy. For more information about the Cappelli Organization please visit www.cappelliorg.com.
RXR and The Cappelli Organization Break Ground on Hamilton Green: Former White Plains Mall to Transform into Mixed-Use, Transit-Oriented $650 Million Development
Groundbreaking ceremony for Hamilton Green, the new housing development by RXR and the Cappelli Organization, on the former White Plains Mall site Dec. 8, 2022 in White Plains.
