Cappelli Development Company has announced the opening and beginning of leasing at Encore, its 28-story residential tower at 325 Huguenot St. in New Rochelle, It’s directly across Centre Avenue from its sister building 3THIRTY3, which is at 333 Huguenot St. Encore features 241 apartments.
Louis Cappelli, CEO of the Cappelli Organization, said, “Encore will build on the tremendous leasing success we have enjoyed with 3THIRTY3 while continuing to elevate luxury living to new heights in downtown New Rochelle which is experiencing an extraordinary renaissance.”
“The first phase was extremely successful and leased up in record time,” Bruce Berg, Cappelli Development Company CEO, told the Business Journal. “At this point we believe there is demand for additional product so close to the train station and walking distance to restaurants and everything else that New Rochelle is bringing to this market.”
Berg said that the finishes in the apartments in both buildings are high-end condominium quality.
“We have an indoor pool,” Berg said. “We offer two Tesla cars through a program to all of our residents that they are able to use. There are some guidelines on the number of hours and things like that. We offer a full range of indoor and outdoor amenities.”
Monthly market rents for apartments at Encore start at $1,910 for studios, $2,540 for 1-bedroom units and $4,250 for 2-bedroom units.
Berg said that the company has several projects underway.
“In White Plains we’re building 25 North Lexington for Greystar right now,” Berg said. “We are actively involved in the Hamilton Green project, the former White Plains Mall site. We’re in the process of processing approvals for the Galleria in White Plains. We are negotiating to build another building for someone in New Rochelle. We’re active in both those markets as well as frankly being active in the Bronx, Coney Island. We’re building throughout the metropolitan area. Sometimes we’re general contractor, sometimes we’re contractor and developer, sometimes we’re contractor, developer and partner.”
