An attorney for the real estate company behind a changing proposal to redevelop the former estate of Broadway producer Billy Rose in New Castle said a plan to transform the mansion into 60 condominiums is “alive and well.”
However, at the same time, the mansion and property at 773 Armonk Road are listed for sale by Ginnel Real Estate in Bedford Hills for $35 million. In a separate listing, the 98-acre parcel is being marketed at an asking price of $18.8 million.
David Steinmetz, the White Plains attorney representing the developer, Soder Real Estate Equities LLC of Montclair, N.J., said his client “has been actively engaged over the last several months retaining an engineering firm to solve the sewage effluent issues and has now hired a new architect. With our development team now firmly in place we expect to return to the town and pursue the SEQRA (State Environmental Quality Review Act) process vigorously.”
Stephen Oder, principal of Soder Real Estate Equities in Yonkers, acquired the property from the Legionaries of Christ in 2012 for an undisclosed amount. The Legionaries, a Roman Catholic order of priests, bought the property in 1994 for $3.13 million from the Unification Church of the late Sun Myung Moon when it was known as The Cenacle, a former retreat house for a Catholic order of nuns.
The 1920s-era red brick mansion was originally built for famed Broadway producer Billy Rose. The 22,000-square-foot home features eight bedrooms and 12 bathrooms.
Oder in 2012 first proposed a 66-unit residential development and 30-room hotel on the site. He later returned to town officials with a proposal to build 80 villas and townhouse condos on the site without a hotel. Two years ago, Oder proposed to redevelop the estate as The Spa at New Castle, a 66-unit residential development with a 30-room hotel, 20,000-square-foot public spa and a 4,470-square-foot restaurant.
The spa and hotel portions were eliminated from the proposal in 2014 due to concerns from neighbors, Steinmetz said.
The most recent version of the proposal, called Rosehill, includes 60 condominium units with amenities that include indoor and outdoor pools, a 75-seat screening room, fitness center, three tennis courts and walking trails.
Regarding the luxury property”™s sale listing with the Ginnel brokerage, Steinmetz explained that the listing of the mansion as a single-family offering falls under requirements of the SEQRA process and the developer still intends to proceed with the Rosehill condominium project.
“The company was required to study and examine not only the environmental impacts of the single estate, but the economic viability of such a project, that is why he tested the water with the listing of the property as a single estate,” Steinmetz said. “Soder remains very excited about the successful redevelopment of this property.”
Asked about the property”™s listing with the realtor, Sabrina Charney Hull, New Castle planning director, said, “The town has no indication that the project for the 60 townhouse units has been terminated.”
Soder Real Estate next will submit a draft environmental impact statement for review by New Castle officials.
Steinmetz said he hoped the environmental impact report “would be submitted for review for the town in the fall and ready for town board and a public hearing as soon as consultants deem it complete. We would hope the project would receive its approvals in 2016 and would be ready to begin coming to market sometime in 2017.”
