Work Begins on $100 Million Project in New Rochelle
Real Estate In-Depth | October 2017
NEW ROCHELLE—Earlier this month New Rochelle City officials joined with National Realty & Development Corp. to break ground on WatermarkPointe, a new $100 million, 72-unit luxury condominium waterfront residential project being built along the Long Island Sound in New Rochelle.
Located on the Davenport Neck peninsula, WatermarkPointe will include nine four-story buildings of condominium residences with panoramic water views and private beachfront access.
“National Realty & Development Corp. brings to New Rochelle impressive vision, wide-ranging experience, and a proven commitment to quality,” said New Rochelle Mayor Noam Bramson. “We look forward to strengthening our partnership with this capable team as New Rochelle pursues the most ambitious development objectives in our history.”
The waterfront development complements projects both underway and proposed throughout the city. As part of New Rochelle’s ambitious redevelopment initiative, more than $4 billion in new investment to the city is projected. The initiative continues to attract major developers including National Realty & Development Corp., to the area. WatermarkPointe residences are selling out in record time, with 25 units in the first phase already sold. The second phase has been accelerated to come onto the market this winter.
“National Realty & Development Corp. is excited to create a high-quality waterfront community on the shores of New Rochelle, a city that is quickly becoming an ideal location for those seeking a suburban lifestyle with all of the benefits of a large city,” said Jerry Bermingham, executive vice president of development/acquisitions at National Realty & Development Corp. “With a hands-on approach, NRDC is fully dedicated to building communities that encompass a high-end residential lifestyle, and we’re thrilled to see the first residences of WatermarkPointe selling out in record time.”
WatermarkPointe’s condominiums will include contemporary and elegant two-bedroom plus den and three-bedroom residences each with open plan great rooms with sleek fireplaces and gourmet kitchens complete with generous islands, luxury cabinetry, and top-of-the-line appliances. Additionally, residents can enjoy year-round views of Long Island Sound via private 30-foot-wide terraces, which span the great room on the waterfront side of every residence. The waterfront community also includes: a well-appointed secure lobby and indoor parking garage; a clubhouse with a bar, fireplace, large-screen TV and comfortable seating; a state-of-the-art exercise room; and an outdoor pool overlooking the Sound.
A preview sales center is open at 698 Davenport Ave., New Rochelle.
National Realty & Development Corp., headquartered in Purchase, maintains a portfolio comprised of large retail power centers, grocery-anchored community shopping centers, residential communities and corporate/ industrial business parks.