Khosla Capital JV Acquires $200M New York Community

1 min read

Halstead Station last traded in 2016, for $148.5 million.

Halstead Station

Khosla Capital has acquired, in a preferred equity venture with Pacific Urban Investors, a 408-unit luxury multifamily community, Halstead Station, in Westchester County, N.Y. JLL Capital Markets brokered the $200 million transaction, representing seller The DSF Group.

DSF Group bought the asset back in 2016, for $148.5 million from Hartz Mountain Industries, according to Yardi Matrix data. In 2020, the property was subject to a CMBS loan of $111.4 million originated by Walker & Dunlop, the same source shows.

Completed in 2001, the 24-story high-rise encompasses studios, one-, two- and three-bedroom units ranging between 449 and 1,985 square feet. Common-area amenities include a fitness center, a clubhouse, a playground and children’s playroom, a dog park, a courtyard with barbecue grills, a swimming pool and laundry facilities. Units offer large windows, walk-in closets, washers and dryers and patios or balconies in select units.

Central Business District location

Located at 255 Huguenot St., Halstead Station is close to US Highway 1, Main Street and New England Thruway/Interstate 95, and is near the New Rochelle Metro North station. There are many dining options, retail spaces and entertainment venues in the proximity, as well as green areas such as Ruby Dee Park. Health-care facility Montefiore New Rochelle Hospital is 0.6 miles from the property and Iona University is also within 1 mile.

Josh Solomon, president of The DSF Group, said in prepared remarks that Halstead Station is an execution of the company’s value-add strategy and represents the second investment completed in New Rochelle.

The DSF Group also recently acquired a New Jersey community for $82.5 million, while also selling a Boston-area asset it previously bought from LivCor for $227.1 million.

You May Also Like

The latest multifamily news, delivered every morning.


Latest Stories

Like what you're reading? Subscribe for free.