RM Friedland Named Exclusive Retail Agent For First Phase of RXR Realty’s 587 Main St.
Real Estate In-Depth | January 2018
NEW ROCHELLE—RM Friedland has been named the exclusive retail leasing agent for 587 Main St., the first phase of RXR’s master redevelopment of Downtown New Rochelle.
RM Friedland is responsible for all professional services surrounding the leasing of the retail opportunities at the location, including but not limited to: in-depth market analysis, marketing of the premises, community outreach to locate/negotiate with interested parties, development of promotional and marketing plans/activities.
587 Main St. is planned as a 280-unit, mixed-use luxury residential rental project, which includes approximately 14,000 square feet of retail space on the ground floor, a 10,500-square foot Black Box Theatre on the second floor and 294 on-site parking spaces. The Black Box Theater will be a technologically innovative Virtual Reality theater that is unlike anything presently on the East Coast.
Four street level retail units are available for lease: the units range in size from 900-5,800 square feet.
“We are extremely excited about the opportunity to represent RXR on the leasing of 587 Main St. This truly feels like we have been given the opportunity to get in at the ground level of reinvigorating the community of New Rochelle. The Black Box Theater will be a draw unlike any other and we see the potential for 587 Main Street to be positioned as a new cultural destination for the Southern Westchester area,” said Sarah Jones-Maturo, president of RM Friedland. “Our team is dedicated to working closely with RXR, the developers of the project, and bringing tenants that will be able to run exciting, successful and sustainable businesses in New Rochelle’s dynamic downtown area.”
Construction is anticipated to be completed in the first quarter of 2019, which will mark the start of full building operations.
“We are thrilled to partner with RM Friedland as we continue the revitalization of downtown New Rochelle,” said Seth Pinsky, executive vice president at RXR. “The retail opportunities we are creating at 587 Main will spur additional job growth, foot traffic, and increased attention for this amazing site. We are proud to work with RM Friedland to ensure New Rochelle’s future as a destination for living, dining, entertainment, arts, and culture.”