Westchester & Fairfield Cheat Sheet: RXR Realty hit with construction lawsuit in Yonkers … & more

May.May 23, 2018 12:35 PM

Clockwise from top left: Gateway Loft hits Larkin Plaza developer with $2 million lawsuit, L.A. firm buys luxury complex in Dansbury, South 12th Realty seeks variance for affordable housing in Mount Vernon, and Greenwich Associates renews lease in Stamford.

 Gateway Loft hits Larkin Plaza developer RXR Realty with $2M lawsuit over alleged construction damage
The developer of a $200 million project in downtown Yonkers is facing a lawsuit, which claims that construction has damaged neighboring buildings. Gateway Loft Associates and Alma Realty Corp. filed the $2 million suit against RXR Realty claiming construction activities at RXR’s Larkin Plaza development have “caused substantial physical damage” to their buildings, which are adjacent to the project, the Westchester County Business Journal reports. A spokesman for RXR said some minor damage occurred when construction started, but maintained RXR has “worked collaboratively with the neighbor to shore up the building.” The mixed-use project, which features 439 apartments and retail space spread across multiple buildings, has been under construction since December 2016. [WBJ]

Los Angeles-based firm snaps up 374-unit luxury apartment complex in Danbury
A Los Angeles-based real estate investment firm has purchased a luxury apartment complex in Danbury, the Fairfield County Business Journal reports. Lowe Enterprise Investors bought the 374-unit complex at 1 Kennedy Flats from Greystar for an undisclosed price. The complex, completed in 2016, includes apartments ranging from studios to three-bedrooms, 13 townhouses and a communal area for residents. [FBJ]

Developer seeking variances for affordable housing complex at former Mount Vernon bakery site
A shuttered bakery could become housing for veterans and grandparents raising children as part of a Mount Vernon developer’s proposal. South 12th Realty hopes to convert the plot that housed Artuso Pastry’s bakery — which was destroyed by a fire a few years ago — as well as an adjacent house into an affordable housing complex called The Esplanade, LoHud reports. The developer will need several variances to move forward with its plans, as the former bakery is in a commercial zone where housing isn’t allowed. [LoHud]

St.Regis-branded luxury condo project breaks ground in Rye
The $100-million-dollar St. Regis Residence Rye, a luxury condo project developed by Alfred Weissman Real Estate LLC, broke ground late last week, the Westchester Business Journal reports. Licensed with the high-end Marriott hotel brand, but without an ownership stake from Marriott itself, the 95-unit St. Regis project targets seniors aged 55 and older. RXR Realty is financing the project. Construction is expected to be completed in 2020. [WBJ]

Developer files plans for 54-key hotel at auto-repair shop site in Yonkers
A 54-key hotel could soon replace an auto-repair shop in Yonkers. Developer Broadway Hospitality has filed plans to build a hotel and 42 parking spaces at 180 South Broadway, the Westchester County Business Journal reports. Broadway Hospitality purchased the existing two-story commercial building for $2.5 million last year, and plans to build two stories above the structure. Construction on the project — which would be the first hotel along South Broadway — is slated to start in December, and could wrap up in 2020. [WBJ]

Related Articles

Richard LeFrak with Gateway Plaza at Battery Park City (Credit: LeFrak by John Lamparski/WireImage; Olnick Organization)

Judge OKs $42M settlement by LeFrak, Battery Park City tenants

Airbnb CEO Brian Chesky (Photo by Bryan Bedder/Getty Images for Airbnb)

Airbnb suspends marketing, cuts executive pay in half

Charles Kushner and 331 East 9th Street (Credit: Kusner Photo by Ilir Bajraktari/Patrick McMullan via Getty Images; Google Maps)

Judge grants Kushner tenants free rent at East Village complex

(Credit: Pixabay)

REIT declines outpace stock market amid shutdowns nationwide

The Williamsburg Hotel at 96 Wythe Avenue and from top: Benefit Street Partners' managing director Micah Goodman, receiver Constantino Sagonas and Heritage Equity Partners’ Toby Moskovits (Credit: Google Maps)

Williamsburg Hotel dispute escalates as pandemic raises stakes

Morris Moinian and 1150 6th Avenue (Credit: Noam Galai/Getty Images, Google Maps)

Morris Moinian to sell site of stalled hotel project

A chaotic week for stock markets has impacted REITs in some sectors far more than others. (Credit: background by JOHANNES EISELE/AFP via Getty Images; iStock)

Real estate stocks split into winners and losers after hectic week

Arthur Shapolsky of Shapolsky Real Estate and 143 East 62nd Street (Credit: Facebook, Google Maps)

Real estate titan: I was duped on deal by elderly button-shop owner