Repurposing Property Trend is Evident in This Pair of New Developments

Last fall, the first shovels hit the dirt on two much-buzzed-about residential projects: the $100 million WatermarkPointe in New Rochelle and a 421-unit apartment building, branded as Carraway, on the Platinum Mile in Harrison. In both cases, the repurposed developments mark a significant departure from the previous occupants of those sites.

The WatermarkPointe project, from Westchester-based National Realty & Development Corp., broke ground in October 2017 where the Beckwith Pointe Beach Club stood for decades. It includes nine four-story beachfront condo buildings. Sitting on Long Island Sound, on the Davenport Neck Peninsula, the luxury two- and three-bedroom units will boast great rooms, fireplaces, large kitchens with spacious center islands and high-end appliances, as well as 30 ft. terraces overlooking the Sound. Perks include secure lobbies, an indoor parking garage, waterside pool, and an adjacent clubhouse with its own bar, fireplace, television and seating area, and exercise room.

WatermarkPointe in New Rochelle will feature luxury two- and three-bedroom units.

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In Harrison, the October commencement of construction on Carraway marked the first time an apartment development has gone up on the Platinum Mile — known historically as the home of Westchester’s premier office spaces. The 421-unit luxury apartment complex will rise from the ashes of the former office buildings at 103 and 105 Corporate Park Drive. Carraway, which is a Toll Brothers development, will feature a mix of 22 studios, as well as 217 one-bedroom and 182 two-bedroom units in a five-story building. Amenities will include a club room, fitness center, children’s playroom, pet spa (!), co-working lounge, and pool. The development will also feature retail on the first floor. About 10 percent of the complex, or 42 units, will be set aside as affordable housing. The project is slated to be completed by the summer of 2020.

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