RXR Realty has received $105 million in refinancing for 360 Huguenot, a 280-unit mixed-use building in New Rochelle, N.Y. JLL Capital Markets arranged the loan on behalf of the borrower through Rialto Capital Management.

Completed in 2019, the 28-story property is the first high-rise delivered in New Rochelle since 2007. The tower encompasses 252 market-rate units, 28 affordable units available for residents earning up to 80% of the area median income, and 13,538 square feet of ground-floor retail space. Property amenities include 24/7 concierge service, a fitness center with a yoga studio, an indoor/outdoor lounge, and a valet parking garage.

Located at 360 Huguenot St., the property is in downtown New Rochelle, near several dining, shopping, and entertainment options. The building is near the New Rochelle train station, connecting the city to Grand Central in Manhattan. Thanks to its proximity to the train station and Interstate 95, the community also provides access to employment hubs in Connecticut and Westchester County.

Large-scale Local Development

The New York-based RXR Realty’s multifamily portfolio comprises around 4,200 units completed or under construction. The city of New Rochelle designated RXR as a master developer in 2014, as the firm worked with the city to develop three residential projects.

The firm recently completed One Clinton Park, another 28-story, mixed-use tower, encompassing 352-unit market-rate apartments and around 13,000 square feet of retail space. Two Clinton Park, the next, 28-story, 390-unit phase in the development, is slated for delivery in 2024.