The Real Deal New York

Westchester & Fairfield Cheat Sheet: RXR scores $103M for Atlantic Station in Stamford … & more

By James Klatell | October 31, 2018 12:30PM

Westchester & Fairfield Cheat Sheet

Clockwise from top left: HGI buying is The Halstead in New Rochelle, Blue Garden Apartments is buying a multifamily portfolio in Bridgeport, RXR scores $103M for Stamford’s Atlantic Station, proposals are due for Danbury’s Tuxedo Junction.

RXR scores $103M in refinancing for Stamford’s Atlantic Station
Insurance and financial services holding company Ullico is providing a $103 million loan to RXR Realty’s Atlantic Station residential development in Stamford, according to the Commercial Observer. The fixed-rate loan refinances existing construction debt on the property. Atlantic Station’s first phase, a 26-story glass tower with 325 units, opened in April. [Commercial Observer]

AMS buys Yonkers’ Chicken Island development site for $16M
The city of Yonkers is selling the 6-acre Chicken Island parking lot to AMS Acquisitions for $16 million, Lohud reported. New York City-based AMS is planning a mixed-use development and a luxury hotel for the property. Named for the slaughterhouse that once occupied the site, Yonkers has been trying to develop the downtown Chicken Island property for 40 years. [Lohud]

Greenwich-based builder tries selling tiny houses in Westchester
Husband and wife team Ken and Tori Pond are betting that tiny houses have a future in New York’s suburbs. Their Greenwich-based company Craft & Sprout is selling mobile structures for between $45,000 and $100,000, according to Westchester Magazine. The couple says most of their tiny homes are used as accessory structures as opposed to full-time residences. One selling point for Westchester buyers: tiny home owners are free from property taxes and building regulations since they are on wheels. [Westchester Magazine]

A 588-unit New Rochelle tower sells to Virginia-based firm
The Halstead apartment tower in downtown New Rochelle is being sold for the second time since 2013, Lohud reported. Virginia-based HGI Acquisitions is in the process of buying the property from Boston-based DSF Group. No sale price has been announced, but New Rochelle assessed the value at more than $223 million. DSF bought the building in 2010 for $210 million. [Lohud]

Proposals wanted for redevelopment of Danbury’s Tuxedo Junction
Potential tenants for the former home of the Tuxedo Junction club have until November 21 to submit their bids to the city of Danbury. The vacant concert venue has been owned by the city since 2017. Bidders must provide $1 million in general liability insurance and $5 million for excess liability and other funding depending on how they plan to use the space, but the city is willing to negotiate below-market lease terms if the tenant invests in capital improvements, Fairfield Business Journal reported. [FBJ]

Trio of multifamily properties in Bridgeport sells for $4.3M
Blue Garden Apartments is buying three multifamily properties in Bridgeport for $4.3 million, according to the Fairfield Business Journal. With a total of 62 units, the portfolio is being sold by McDillon Holdings in an off-market deal. [FBJ]