PUI’s Structured Finance Group announced today that it has provided Preferred Equity for the acquisition of Halstead Station, a 24-story, 408-unit luxury, high-rise multi-housing community located at the Metro North train station in New Rochelle, Westchester County, New York.
JLL represented the seller, The DSF Group. Kholsa Capital LLC acquired the asset.
Built in 2001, Halstead Station features studio, one-, two- and three-bedroom units with open floor plans, large windows with panoramic views, light-filled kitchens and plush carpeting. Select units feature in-unit washers and dryers and walk-in closets. Community amenities include a state-of-the-art fitness center, a resident lounge, a CrossFit gym, a yoga and stretching area, a fully equipped training studio, complimentary fitness classes, an outdoor swimming pool, a courtyard with barbecue grills, a dog bark park, a kids’ lounge, private conference pods and a business center.
The property benefits from its prime CBD location that is at the entrance to the New Rochelle Metro North Station. New Rochelle Station provides access to New York City’s Grand Central Station in under 30 minutes. Additionally, Amtrak passenger rail service offers connections between the region’s prominent cities, including Washington, D.C., New York, Philadelphia, and Boston. Residents also are within walking distance from nearby dining, recreation, and retail.
“We are very excited to partner with an experienced sponsor like Khosla Capital and participate in the acquisition of high-quality real estate in the New York Metro,” said Ash Baraghoush, Managing Director with PUI’s Structured Finance Group who structured the deal. Patrick Freydburg, PUI’s local Investment Director in New York, originated the transaction.