New Developments

Cappelli’s New Project Developments

Mott-Haven-LRC-Construction-RXR-Realty

27-Story Residential Building Breaks Ground At 2413 Third Avenue In Mott Haven, The Bronx

27-Story Residential Building Breaks Ground At 2413 Third Avenue In Mott Haven, The Bronx

Rendering of 2413 Third Avenue - Courtesy of RXR Realty
Rendering of 2413 Third Avenue – Courtesy of RXR Realty

BY: SEBATIAN MORRIS 7:30 AM ON OCTOBER 14, 2021

RXR Realty recently celebrated the commencement of construction on 2413 Third Avenue, a 27-story residential tower in the Mott Haven section of the South Bronx. Designed by CetraRuddy Architecture, the development will comprise a mix of residences, parking, and ground-floor commercial area. 2413 Third Avenue arrives as RXR Realty’s first entry into the Bronx market.

“As the South Bronx’s population grows, RXR welcomes the opportunity to meet this demand and provide accessible, smartly designed, and amenitized homes,” said Joanne Minieri, senior executive vice president and COO of development and construction at RXR Realty. “RXR is fully committed to working in partnership with the community to increase local hiring and activate the neighborhood through direct investment.”

Groundbreaking ceremony at 2413 Third Avenue
Groundbreaking ceremony at 2413 Third Avenue – Courtesy of RXR Realty

2413 Third Avenue will house 200 rental units including 60 rent-stabilized units for middle-income households. All units are equipped with stainless steel appliances, white oak flooring, matte black iron fixtures, and subway tiling. Amenity spaces will include a fitness center, communal lounge areas, landscaped outdoor space, and a roof terrace with barbecue grills and dining area.

“The building design is rooted in the traditions of the vibrant community of Mott Haven,” said Nancy J. Ruddy and John Cetra of CetraRuddy Architecture. “A bold massing creates a sculpted presence that both engages the sky while opening up to pedestrian activity. Indoor/outdoor connectivity and integration with nature is an important element that helped form the project, creating gardens and varied outdoor spaces.”

The rendering shows a lively modern design incorporating a number of rectangular volumes composed of light colored paneling framing sleek floor-to-ceiling glass. These volumes are assembled together at various angles, and are interspersed by a core of earth-toned brick masonry, creating a striking contrast.

Rendering of 2413 Third Avenue from street level - Courtesy of RXR Realty
Rendering of 2413 Third Avenue from street level – Courtesy of RXR Realty

The commercial component will occupy a modest 721 square feet and will be divided into a separate gallery and retail business. The development will also include a parking garage designed to accommodate 81 vehicles with electric vehicle charging stations, a trending amenity among new developments in the New York City area.

This past summer, RXR and Bank of America closed on a $75.2 million construction loan to finance the development. Construction is on track to wrap by the end of 2023.

27-Story Residential Building Breaks Ground At 2413 Third Avenue In Mott Haven, The Bronx Read More »

RXR & LRC Break Ground For First South Bronx Project

RXR Realty has broken ground for its inaugural South Bronx development, a future residential building located at 2413 Third Avenue.

Situated next to the Third Avenue Bridge and minutes to the 6 train, the 27-story, 200-unit tower will designate 60 units as affordable apartments for middle income households. It will feature 81 on-site enclosed parking spaces and electric vehicle charging stations and 721 s/f of retail space. The project is slated for completion in 2023. 

This summer, RXR and Bank of America closed on a $75.2 million construction loan to fund the development of 2413 Third Avenue.

Rendering of the new tower

“As the South Bronx continues to grow, it is crucial to see increased direct investment in affordable housing to support vibrant neighborhoods like Mott Haven. I am proud to celebrate the groundbreaking of over 60 affordable units for middle income households that will provide stability and opportunity for Bronx residents. I look forward to seeing continued investment in affordable housing in the South Bronx in order to lift up working families,” said Congressman Ritchie Torres, NY-15. 

“We are thrilled to break ground today on our first entry into the Bronx market and celebrate the creation of 200 new apartments and retail space in the vibrant Mott Haven neighborhood. As the South Bronx’s population grows, RXR welcomes the opportunity to meet this demand and provide accessible, smartly designed and amenitized homes,” said Joanne Minieri, Senior Executive Vice President, Chief Operating Officer of Development and Construction, RXR Realty. “RXR is fully committed to working in partnership with the community to increase local hiring and activate the neighborhood through direct investment.”

“We are excited to welcome RXR to the Bronx and to the thriving network of Chamber members who are investing in our neighborhoods to create new jobs and opportunities for community partnerships,” said Lisa Sorin, President of the Bronx Chamber of Commerce.

Designed by CetraRuddy Architects, a the building will feature an open concept cafe and gallery space on the ground floor, a state-of-the-art fitness center, flexible common area, and electric vehicle charging stations.

Units will be equipped with stainless steel appliances, white oak flooring, matte black iron fixtures and subway tiling. The 145,643 s/f development will also feature exterior amenity areas, including landscaped seating areas and lounges, rooftop grilling, dining areas and a gaming space. The tower is centrally located within walking distance of the 4/5/6 transit lines and one block from the Major Deegan Expressway. 

“The building design is rooted in the traditions of the vibrant community of Mott Haven. A bold massing creates a sculpted presence that both engages the sky while opening up to pedestrian activity. Art is an integrated design element throughout the interior and exterior to enliven the street and the resident experience. Indoor/outdoor connectivity and integration with nature is an important element that helped form the project, creating gardens and varied outdoor spaces. Authenticity of materiality helps to create a welcoming structure that has the welcome of home,” said Nancy J. Ruddy and John Cetra of CetraRuddy Architecture.

RXR & LRC Break Ground For First South Bronx Project Read More »

Cappelli to take over construction of The Mitchell for Lennar

Cappelli to take over construction of The Mitchell for Lennar

By Peter Katz – August 2, 2021

Developer Louis Cappelli, whose White Plains-based Cappelli Organization includes LRC Construction LLC, and Lennar Multifamily Communities LLC have reached an agreement for Cappelli’s company to take over the stalled construction of The Mitchell apartment project in downtown White Plains, John Callahan, corporation counsel for the city of White Plains confirmed to the Business Journal late on July 30.

Lennar continues to be the project’s developer.

The Mitchell
The Mitchell as it rises above Mamaroneck Avenue and East Post Road. Photo by Bridget McCusker

Work on The Mitchell, which is rising along Mitchell Place, Mamaroneck Avenue and East Post Road came to a halt after the contractor Katerra Inc., which had been doing the construction for Lennar, filed for bankruptcy in federal court in Houston in early June. Court documents indicated the company owed from $1.29 billion to $1.55 billion.

Cappelli’s construction teams were expected to begin working at the Mitchell site within a matter of days, Callahan said.

Greg Belew, a regional president for Lennar who has The Mitchell as one of his responsibilities, confirmed the information to the Business Journal on July 31.

“We’re very excited to resume construction and look forward to delivering the completed project to the White Plains market,” Belew told the Business Journal.

He said that although the delays caused by the Katerra situation did slightly affect Lennar’s schedule they now plan to be able to make units available for occupancy in the first quarter of next year.

The Mitchell is being built on properties carrying the addresses of 9 Mitchell Place and 131 Mamaroneck Ave. Previously, Alliance Residential Co. had received approvals for a project it called Broadstone White Plains. LMC bought the properties in 2018.

The parcels cover approximately 2.1 acres. The project involves two 15-story buildings and a six-story parking structure. There would be 434 apartments ranging from studios to three-bedroom units. The plan includes about 8,000 square feet of ground-level retail and restaurant space along Mamaroneck Avenue.

When previously interviewed about the project, Belew, said that the company believed strongly in the potential for The Mitchell.

the mitchell white plains
The view of the project from East Post Road. Photo by Bob Rozycki

“The types of environments that you find that tend to be transit oriented also tend to be slightly more dense. When you look at places like White Plains and Stamford that tend to have great commuting options on the train it makes a lot of sense,” Belew said.

“There’s been such a shortage of new rental product in the Northeast that the attitude on the part of a lot of developers was, ‘Build it and they will come.’ Now that there’s been a lot more development in recent times it has forced the development community to produce a high-quality product that’s more fully amenitized. You’ve really gotten into an amenity arms race.”

Cappelli has developed numerous projects such as the City Center and the Ritz-Carlton Residences in White Plains.

Among the many structures his construction company has built are two apartment towers on Bank Street in White Plains, two residential towers in the Atlantic Station project in Stamford, as well as buildings in New Rochelle, Yonkers, Mount Vernon and New York City.

Cappelli to take over construction of The Mitchell for Lennar Read More »

Developers break ground on project to transform area near White Plains train station

Developers break ground on project to transform area near White Plains train station

Mar 02, 2022, 8:16pm Updated on Mar 03, 2022

By: News 12 Staff

Developers broke ground Wednesday on a project that will transform the area near the White Plains train station.

The new two-tower high-rise contains 500 luxury apartments and retail space. It is expected to open by mid-2024 at 25 North Lexington Ave.

Amenities include a fitness center, study rooms and a pet spa – plus plenty of outdoor space.

The project’s location in downtown White Plains and proximity to public transportation continues to make the city one of the most commuter-friendly suburbs in Westchester.

“We worked very hard in White Plains to make this a great place to live for the people that are here but also to make it an attractive place for people who are looking for a place to locate both businesses and individuals,” says White Plains Mayor Tom Roach.

The building includes 15 affordable housing units. Developers are paying the city $4 million, which will go into its Affordable Housing Assistance Fund, to create other future housing assistance programs and more affordable units.

Developers break ground on project to transform area near White Plains train station Read More »

PRCP and Aareal Bank form JV with SL Green & The Cappelli Org.

PRCP and Aareal Bank form JV with SL Green & The Cappelli Org.

https://nyrej.com/prcp-and-aareal-bank-form-jv-with-sl-green-the-cappelli-org

White Plains, NY Pacific Retail Capital Partners (PRCP) and Aareal Bank, owner of The Galleria at White Plains, have formed a new joint venture partnership with SL Green Realty Corp. and the Cappelli Organization.

The Galleria, which opened in 1980, consists of approximately ten acres located in a Qualified Opportunity Zone next to a mass transit hub of Metro-North. The area over the last decade has seen a near complete transformation. High-rise residential towers have already drawn thousands of new residents. The 870,000 s/f mall has become a focal point in completing the reimagination of downtown.

“This is one of the most exciting mixed-use development sites in the New York Metro Area,“ said Steve Plenge, CEO of PRCP. “We have worked over the past few years to acquire the Macy’s fee interest at the site, along with the leasehold interest of the former Sears. Working with our new partners, we will reimagine the site as a vibrant mixed-use project that will be centered on residential development and amenity-based retail.

PRCP, together with its new partners, is dedicated to creating a unique and strategic vision through master planning efforts and design for the Galleria at White Plains to transform it for the next generation.

The two new partners bring local multi-family and office experience to the partnership. SL Green is one of the largest owners of office real estate in New York City and Westchester County. The Cappelli Organization has been involved with numerous residential, office and retail development projects in greater Westchester County. 

“We are extremely pleased for the opportunity to join with SL Green, Aareal Bank Group and Pacific Retail Capital Partners in the redevelopment of The Galleria site,” said Louis Cappelli, CEO of the Cappelli Organization. “The reimagining of this property is integral to the dramatic transformation of downtown White Plains that is well underway. We are fortunate to be able to play a role in recreating the property with mixed uses which will link the city’s transit center with the Mamaroneck Avenue corridor. The Galleria redevelopment comes as our company, is beginning the redevelopment of the former White Plains Mall property into Hamilton Green, also a mixed-use project. Together, the two major projects will effectively complete the transformation of the downtown that began as an Urban Renewal project more than 50 years ago.”

“The Galleria at White Plains is an important property in Westchester County and the region. With our experienced real estate partners, the new masterplan and design will build upon the remarkable renaissance under way in Downtown White Plains,” said Plenge. “The existing Galleria White Plains has been a community staple for many years. We anticipate closing a portion of the mall in early 2023 to evolve the asset and rebalance the mix of uses through a transformative development to meet the needs of the next generation.” Plenge added. 

PRCP and Aareal Bank form JV with SL Green & The Cappelli Org. Read More »

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