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WPCNR REALTY REALITY. From The Cappelli Organization. October 25, 2022:

City and County officials joined with the Cappelli Organization on October 20 to celebrate the grand opening of 3THIRTY3, a 28-story tower featuring 285 luxury apartments with world-class amenities plus high-end indoor and outdoor recreational spaces. 

Located at 333 Huguenot Street in the heart of downtown New Rochelle, 3THIRTY3 is setting a new standard for luxury living. The soaring glass tower features apartments offering sophisticated style and high-end design with white quartz countertops, energy-efficient stainless-steel appliances and luxury vinyl plank flooring. Each apartment boasts walk-in closets with built-in shelving and floor-to-ceiling windows with spectacular panoramic views of Long Island Sound and New York City.

Apartments are equipped with top-of-the-line smart home systems, keyless entry; multiple zone heating and air conditioning; full-sized stacked washer & dryer with built-in linen shelving and run-quiet dishwasher. Monthly market rents range from $2090 -$2360 for studios; $2,495 to $4230 for 1-bedroom units and $3,450 to $4,925 for 2-bedroom units.

Luxury amenities abound at 3THIRTY3 including 24/7 concierge service with package room and dry-cleaning pickup/delivery; co-working spaces; exclusive resident access to two on-site Teslas; over 240 on-site parking spaces with electric car charging stations, and on-demand access to top-of-the-line home products via TULU.

With a focus on wellness, residents at 3THIRTY3 have access to a cardio and weight training health club featuring a Pilates, yoga, and aerobics studio. There is also an exclusive full spectrum infrared sauna and New Rochelle’s only all-season indoor/outdoor swimming pool.

For entertaining there is a multimedia lounge; Full-Swing Golf Multi-Sport Simulator with brew bar; mixology lounge; professional chef’s event kitchen; outdoor terrace with fire pit; grilling area, and pizza oven. There is even a pet spa with grooming station.

3THIRTY3 is conveniently located just 3 blocks from the Metro-North/Amtrak train station which offers an easy 30-minute commute to Grand Central Terminal. Within walking distance from 3THIRTY3 are New Rochelle’s top bars, restaurants, coffee shops, and entertainment venues. 3THIRTY3 includes ground-level retail space.

The market’s response to 3THIRTY3 has been remarkable. Since the start of leasing a few months ago, more than 50 percent of the apartments are leased and 120 new residents have already moved in.

“We are thrilled by the tremendous response we’ve received to this exciting and extraordinary new building. With 3THIRTY3 we are taking New Rochelle’s luxury rental market to a whole new level with world class amenities,” said Louis R. Cappelli, Chief Executive Officer of the Cappelli Organization. “We are particularly pleased to be part of the remarkable renaissance underway in downtown New Rochelle,” he added.

“Louis Cappelli was among the key pioneers whose vision and confidence helped bring about the positive transformation of downtown New Rochelle. Now, at 3THIRTY3, he takes our downtown to a new level, with design and amenities that establish the highest standards for our community and that reflect our aspirations for sustainable growth. The opening of 3THIRTY3 is yet another example of New Rochelle’s forward momentum, as we evolve into the best city in the region to live, work, and grow,” said New Rochelle Mayor Noam Bramson.

3THIRTY3 is one of two 28-story towers that comprise the 435,000-square-foot Centre at Huguenot complex. A second 28-story building with 249 apartments and ground-level retail space is under construction directly across the street with an expected completion date of November 2023. The two-building complex is being developed by Cappelli Organization in partnership with The Related Companies. Cappelli affiliate LRC Construction is building both projects.

Also in New Rochelle, LRC Construction recently completed One Clinton Park for RXR Realty located at 26 South Division Street which features 352 apartments in a 28‑story tower with ground-level retail space. Construction is currently underway on 2 Clinton Park, also for RXR Realty, a 28‑story tower with 390 apartments and ground floor retail space. Another Cappelli project will soon start construction at 247 North Avenue, a 28‑story tower with 300 apartments in partnership with LCOR Incorporated.  

For more information about 3THIRTY3 visit www.3thirty3apts.com

Governor Kathy Hochul and Mayor Eric Adams today announced the completion of a $62 million affordable housing development in the Morrisania section of the Bronx. The El Borinquen Residence creates 148 new affordable apartments, including 90 with on-site supportive services for people experiencing homelessness and 29 homes reserved for seniors.  

“Affordable and supportive housing is a fundamental component to addressing homelessness across the state,” Governor Hochul said. “Building on the successful opening of the El Borinquen Residence, my administration is implementing our $25 billion, five-year housing plan that will allow us to continue to make important investments in communities like the Bronx. By increasing the supply of high-quality inclusive housing, we can ensure that New Yorkers have not only an affordable place to call home, but also access to the supportive services they need to thrive.”  

New York City Mayor Eric Adams said, “With the completion of the El Borinquen Residence, more of our neighbors experiencing homelessness and mental illness will have a place they can call home. Our administration’s Housing Our Neighbors blueprint finally treats homelessness as a housing problem and we’re working to solve it with a housing solution, and supportive housing projects like El Borinquen are a critical part of making that solution reality. Thank you to our partners helping to ‘Get Stuff Done’ for the Bronx and New York City.”

The El Borinquen Residence complements Governor Hochul’s sweeping plans to make housing more affordable, equitable, and stable. In the FY 2023 State Budget, the Governor introduced and successfully secured a new $25 billion, five-year, comprehensive housing plan that will increase housing supply by creating or preserving 100,000 affordable homes across New York including 10,000 with support services for vulnerable populations, plus the electrification of an additional 50,000 homes. 

The El Borinquen Residence consists of a single ten-story building with 148 apartments. The colorful streetside façade along Third Avenue was designed to pay tribute to the neighborhood’s Puerto Rican heritage. 

90 apartments are reserved for formerly homeless adults and youth or young adults ageing out of foster care. These residents have access to rental subsidies and on-site services funded through the Empire State Supportive Housing Initiative. 

Supportive services include individual case management, mental health referrals, job readiness training and financial literacy workshops. Comunilife is the service provider, as well as the project’s developer.  

In addition to the supportive units, 29 apartments are reserved for residents aged 62 and older with incomes at or below 30 percent of the Area Median Income. The remaining apartments are for households earning at or below 60 percent of the AMI. 

Residential amenities include a community space for events, bike room, landscaped area on the ground floor, and a rooftop garden. The development is located within a mixed-use residential and commercial area with access to local amenities and within ten blocks of four subway lines.  

State financing for the El Borinquen Residence includes$7.7 million in permanent tax-exempt bonds, Federal Low-Income Housing Tax Credits that generated $23.2 million in equity and $14.3 million in subsidy from New York State Homes and Community Renewal. The New York City Department of Housing Preservation and Development provided $14.2 million through the Supportive Housing Loan Program.  

In the last five years, New York State Homes and Community Renewal has invested more than $1 billion to create or preserve nearly 7,500 affordable apartments in multifamily buildings in the Bronx.