RM Friedland has been named exclusive retail leasing agent for 587 Main St. in New Rochelle, a 28-story mixed-use tower expected to be completed in early 2019.
The $120 million project is part of the first phase of the master redevelopment of the city’s downtown led by RDRXR at New Rochelle LLC, a joint venture of RXR Realty and Renaissance Downtowns.
RXR Realty broke ground on the project in November 2016. Once completed, the project will include 280 rental apartment units, 14,000 square feet of retail space on the ground floor, a 10,500-square foot black box theater on the second floor and 294 on-site parking spaces.
RM Friedland, a real estate brokerage in Harrison, will handle leasing for the retail space. Four street-level retail units are available for lease, according to RM Friedland’s announcement, with unit sizes ranging from 900 square feet to 5,800 square feet.
The black box theater will be equipped for motion capture work and virtual reality experiences as part of the IDEA New Rochelle initiative, a nonprofit collaborative focused on building a virtual reality sector in the city.
With only 294 on-site parking spaces and 280 apartments, the retail portion of this development plan seems destined to failure. Suburbanites have cars and this is woefully inadequate.