- Larchmont is a very desirable residential town on the Long Island Sound, 35 minutes from New York’s Grand Central station. We acquired this 1.26-acre brownfield site located a short walk from Larchmont train station and the very walk-able and pleasant Larchmont Village from a public REIT in the aftermath of the 2008 financial markets period of distress.
- The site had the benefit of a Special Permit from the Town of Mamaroneck allowing for residential condominium units and a three level below grade parking structure.
- We partially redesigned the building; we increased the number of units and were one of the first buildings to use air-to-water heat pumps for each unit as the heating and cooling systems.
- We built and sold 147 residential condominium units (including 10 social housing units) and a three-level parking structure.
- Partner equity from a Family Office – construction loan from KeyBank.
Project Summary
