Tallest Apartment in Westchester County Sells for $260M

Halstead New Rochelle Metro North, the tallest apartment building in Westchester County, sold for $259.4 million.

NEW YORK CITY—Value-add property near mass transit continues to grow as a popular strategy for real estate firms. The DSF Group sold the Halstead New Rochelle Metro North apartments to Azure Partners and Harbor Group International, LLC for $259.4 million. DSF had bought the 40-story, 588-unit apartment building that was built in 2007 in November 2013 for $210 million, according to Real Capital Analytics. The residential tower is located at 40 Memorial Highway in New Rochelle, Westchester County.

HFF marketed the property exclusively on behalf of the seller, bringing in the buyers to close the deal. The apartment, which is 95% occupied, offers market-rate units ranging from studios up to three bedrooms. The building stands along Huguenot Street adjacent to the New Rochelle Metro North train station—as advertised in the property’s name.