Construction Begins on $100M St. Regis Project in Rye
John Jordan | May 24, 2018
RYE—A host of state, county and local dignitaries were on hand for the official groundbreaking of the St. Regis Residences Rye here earlier this month.
The project, being developed by Harrison-based Alfred Weissman Real Estate, will include 95 luxury condominium residences ranging from one- to four-bedroom units located within five three- to four-story buildings constructed above an underground garage. A three-story commercial office building, once the headquarters of Dictaphone, previously operated on the site at 120 Old Post Road.
The development will be the first St. Regis Residences property to be built without a hotel component.
The St. Regis Residences Rye will feature gated entrances, lushly manicured gardens and courtyards, walking paths, and heated underground parking. There will also be more than 25,000 square feet of amenities that include an attended lobby, a fitness center and exercise studio, an indoor pool and wellness complex, lounges and entertaining spaces, two suites for guests of residents and a 15-seat screening room. At the center of the community will be a landscaped courtyard that will feature lounge areas, water fountains and fire pits. Other planned amenities include: full-time property management, valet parking, package and mail delivery, concierge services and doorman and porter services.
“We are so pleased to bring the very first stand-alone St. Regis Residences to the market,” said Alan Weissman, principal of Alfred Weissman Real Estate. “Since the original St. Regis hotel opened in New York City in 1904, the St. Regis brand has earned the distinguished legacy of offering impeccable accommodations and bespoke services to travelers worldwide. We have assembled a preeminent team of architects, designers and builders to ensure that our project reflects the St. Regis brand’s unparalleled character, quality and spirit.”
Marriott International will be managing the development. RXR Realty is providing financing for the project.
Scott Rechler, CEO of RXR Realty, said, “We are thrilled to be part of the team on this exciting project. AWRE’s vision for 120 Old Post Road is consistent with RXR’s strategy to invest in high quality housing in New York City’s suburbs that satisfies the noticeable shift in baby boomer and senior housing preferences from traditional single family housing to more amenitized, community-oriented housing.”
The Marketing Directors will be managing the sales of the residences, which are expected to begin in the fall.
Editor, Real Estate In-Depth