Total existing-home sales—completed transactions that include single-family homes, townhomes, condominiums and co-ops—rose 3.1% from December to a seasonally adjusted annual rate of 4.00 million in January.
‘The Stella’ Luxury Tower in New Rochelle Nears Completion
NEW ROCHELLE—Construction is nearing completion on a major mixed-use project in Downtown New Rochelle—“The Stella.” The first residents of the 27-story tower are expected to take occupancy in January 2022.
The $190-million project, which is being developed by L&M Development Partners and Wilder Balter Partners, Inc., is comprised of 380 studio, one-, and two–bedroom apartments. The spacious residences feature expansive floor-to-ceiling windows, solar window shades, luxury wide plank flooring, in-home washer/dryers and smart door locks. There are terraces or balconies in select residences which offer panoramic views of the Long Island Sound and the Manhattan skyline. Gross monthly rents for the 285 market rate residences starting around $2,000 per month.
Stella, located at 10 LeCount Place, is built to Enterprise Green Communities efficiency standard, including Energy Star appliances, Zero-VOC interior paints, LED light fixtures and water-conserving plumbing fixtures.
Of the building’s 380 residences, 95 are being offered as affordable. A total of 48 residences are for individuals or families earning up to 50% of Area Median Income (AMI) and 47 residences for those earning up to 70% of AMI. The Housing Action Council of New Rochelle accepted applications for a lottery drawing that was held Aug. 13.
Residences feature kitchens with smoke oak and white high-gloss cabinets, Calacatta gold quartz countertops, and recessed lighting and a high-end stainless steel Beko appliance package with a five-burner gas range, refrigerator, dishwasher and microwave. Bathrooms have natural oak vanity cabinets with designer solid stone countertops, honed porcelain floor tiles and full-height honed porcelain wall tiles. Bathrooms come outfitted with high-end Pelham & White fixtures as well as an integrated medicine cabinet.
Designed by the world-renowned architectural firm of Beyer Blinder Belle, Stella abounds in luxurious amenities including a 24-hour attended lobby and package room with cold storage. In a feature unique to this market, Stella will boast an outdoor rooftop pool on the 25th floor with sun loungers and locker rooms where residents can enjoy the stunning panoramic views. There is also a rooftop deck with BBQ grills and al fresco dining, a landscaped terrace with loungers, and an outdoor pet play area. In addition, there will be a 6,200-square-foot ground floor retail space with a café and shops.
Indoor amenities include a lobby café with seating and co-working area; rooftop bar lounge with a wide screen TV and pool table; chef demonstration kitchen; state-of-the art Fitness Center with two private fitness studios, virtual fitness classes and outdoor access; children’s playroom with reading nook; co-working lounge with conference room; bicycle storage and pet spa. Residents will enjoy the convenience of indoor covered parking with available electric charging stations.
“We hope to offer Stella residents a truly unique opportunity to live in a beautifully designed modern tower with one-of-kind amenities such as our rooftop pool. All in in New Rochelle’s historic downtown, within easy reach of both Metro-North and Amtrak and wonderful local parks.” said Katherine Kelman, Senior Director of L&M Development Partners Inc.
“We are thrilled to be a key part of the meaningful renaissance under way in Downtown New Rochelle. We consider Stella one of the most exciting and innovative new developments in Westchester and can’t wait to start showing our attractive model apartments, amenities and panoramic views,” said James Wendling, Vice President of Wilder Balter Partners.
The Marketing Directors is the exclusive sales and marketing firm for Stella.