Fairfield County partners plan luxury apartments in Rye

By John Golden

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A Connecticut real estate investment partnership has acquired the Station Plaza Office Building in Rye with plans to redevelop the property as a 12-apartment luxury residence with a 3,500-square-foot restaurant across from the Rye Metro-North train station.

A partnership of JCS Capital L.L.C. in Stamford and Granoff  Real Estate L.L.C. in Greenwich closed this month on its $2.07 million purchase of 2 Second St. in Rye. The seller, Ganz Easy Street Inc., paid $2 million for the property in late 2002, according to Westchester County land records.

An architect's rendering of 2 Second St. in Rye. An architect’s rendering of 2 Second St. in Rye.

A spokeswoman for JCS Capital said the structure was built as a parking garage for wealthy New Yorkers to store their cars for weekend getaways in the suburbs. The building was renovated in the 1970s and converted into a 12,600-square-foot office building, said Ciara Smyth, marketing director at JCS Capital. She said one half of the building still has a parking garage drive ramp and has been used as warehouse space.

Partners in the $3 million project – Justin Shaw, principal of JCS Capital, and architect Richard S. Granoff – have received city approval for their plans for a 17,500-square-foot mixed-use development. Office tenants will vacate the building by October, Smyth said.

“The proximity to the train makes this the perfect residence for daily commuters,” Shaw said in a press release. “We are excited to bring a fresh face to this great town and provide residents the option of easy, contemporary living.”

The partners’ affiliated companies, Granoff Architects in Greenwich and JCS Construction Group Inc., a general contractor  in Stamford, will manage the design and construction of the project. Construction is slated to begin in early 2015 and be completed in the last quarter of 2015.

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About the author

John Golden
The Business Journal’s senior writer, John Golden directs news coverage of the county and Hudson Valley region as Westchester bureau chief. He was an award-winning upstate columnist and feature writer before joining the Business Journal in 2007. He is the author of “Northern Drift: Sketches on the New York Frontier,” a collection of his regional journalism.
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