June 22, 2022 – William Kiriazidis of Horvath & Tremblay has successfully completed the sale of a mixed-use property in New Rochelle, NY. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transactions at a total sale price of $2,250,000.
The mixed-use investment property is located at 456 Main Street in New Rochelle, New York. 456 Main Street is a three-story, brick and stone building containing five (5) total units comprised of one (1) retail unit and four (4) 2-Bedroom/1-Bathroom units in 8,510 square feet of gross living area on a 0.08-acre parcel. The building is completely free-market and not subjected to any rent regulations. The Property is situated in the heart of downtown New Rochelle; New Rochelle offers a walkable downtown area centered along Main Street (US Route 1) and Interstate 95, and features many amenities for residents including numerous dining, entertainment and retail options. Transportation is readily available via area highways or the public transit system (New Rochelle Metro North Station or the Bee-Line Bus System). The Property is just a few hundred feet from New Roc City, a 1.2 million square foot, state-of-the-art entertainment complex, which is home to a 124-room Marriot, Stop & Shop, Planet Fitness, a parking garage, and numerous other retailers. An ambitious new zoning initiative has paved the way for major economic rebirth in New Rochelle’s historic downtown that will add up to 12 million square feet of new development, including 2.4 million square feet of prime office space, 1 million square feet of retail space, 6,370 housing units, and 1,200 hotel rooms.
Horvath and Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Their advisors specialize in the sale of apartment buildings, mixed-use properties, and development projects. They have experience successfully structuring portfolio sales and 1031 exchanges. They have a dedicated buy side desk that provides real time inventory and market data to each individual client placing capital or fulfilling a 1031 exchange requirement. The firm is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.