Developer breaks ground on $100M St. Regis Residence in Rye

By Ryan Deffenbaugh, Westfair Online Work began Thursday in Rye on the latest efforts in Westchester County to replace struggling office parks with residential buildings. This project comes from Alfred Weissman Real Estate LLC, which broke ground on a $100 million project that will build 95 luxury senior condominiums at 120 Old Post Road, where the landlord previously owned and operated a three-story, 75,000-square-foot office building. The residences will be branded under the St. Regis title, the high-end Marriott brand with more than 40 hotels in 19 countries. The development, The St. Regis Residence Rye, will be the first St. Regi [...]

The RXR operating platform manages 73 commercial real estate properties and investments with an aggregate gross asset value of approximately $17.9 billion, comprising approximately 23.4 million square feet of commercial operating properties and control of development rights for approximately 6,300 multi-family and for sale units in the New York Metropolitan area. Gross asset value compiled by RXR Realty in accordance with company fair value measurement policy and is comprised of capital invested by RXR and its partners, as well as leverage.