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Tri-State

Crow Holdings, Marcus Partners teaming up for luxury Westchester multifamily

Alexan Harrison scheduled for 2024 completion

Paul Marcus (CEO, Marcus Partners), Michael Levy (CEO Crow Holdings) & render of 3 Westchester Park Drive in Harrison NY (Business Wire, iStock, marcuspartners.com, crowholdings.com)
Paul Marcus (CEO, Marcus Partners), Michael Levy (CEO Crow Holdings) & render of 3 Westchester Park Drive in Harrison NY (Business Wire, iStock, marcuspartners.com, crowholdings.com)

Two developers are teaming up on their first multifamily project in New York, a 450-unit luxury residence in Westchester County.

Trammell Crow Residential, the multifamily development arm of Crow Holdings, and Marcus Partners are developing the Alexan Harrison in Harrison, New York, the companies announced Thursday. The developers broke ground in August and aim to complete the project in April 2024.

Render of 3 Westchester Park Drive (Business Wire)

The five-story luxury residence at 3 Westchester Park Drive will consist of two buildings with entirely different aesthetics. However, both will include a resort-style pool area and a 10,000-square-foot clubhouse.

Every residence in the development will include open floor plans, stainless steel appliances and full-sized washer and dryer units. Some units will also include private balconies and walk-in closets.

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Amenities in the development include a resident lounge, fitness center, dog wash, bike storage and private office spaces. A half-mile walking trail will surround the property, which will also have grilling stations and outdoor pizza ovens. The property is situated near a Lifetime Fitness Center and Wegmans grocery store.

Apartment options will range from studios to three-bedroom apartments, sized from 507 to 2,135 square feet. The units will be divided between market-rate and affordable, but the intended split has not been identified.

Crow Holdings has been keeping busy in Florida. Last week, the company bought the Turtle Crossing shopping plaza in Coral Springs for $32.5 million. The privately owned real estate investment manager and developer financed the purchase with a $21.5 million loan from Inwood National Bank.

In July, the Dallas-based company bought a Delray Beach apartment complex for $111.75 million, one of the priciest multifamily deals of the year in South Florida.

Meanwhile, Boston-based Marcus Partners paid $54.5 million in 2018 to buy 11-story buildings at 10-12 East 33rd Street from Dalan Management, which helped Dalan recapitalize the Midtown South office buildings.

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