The 26-Story Leaf Tower Celebrates Its Grand Opening In New Rochelle

NEW ROCHELLE, NY — New Rochelle's newest residential tower is giving a glimpse of the city's changing skyline from the inside.

BRP Companies celebrated the grand opening this week of The Leaf (formerly known as 500 Main), a 477-unit, 26-story, 602,000-square-foot mixed-use development located at 12 Church Street in New Rochelle. Construction at the property began in February of 2022.

"The Leaf exemplifies our commitment to transformative, community-driven development that delivers high-quality housing and vibrant amenity spaces to the communities we serve," Meredith Marshall, co-founder and managing partner of BRP Companies, said. "As we celebrate this milestone, we look forward to continuing to welcome residents to their new homes in the heart of New Rochelle and contributing to the city’s continued economic growth and revitalization."

The Leaf features 477 mixed-income residences: 110 studios, 218 one-bedrooms, and 149 two-bedrooms. 119 of the building's units are designated as affordable, with 20 units available to those earning 50 percent of the Area Median Income (AMI) and 99 units available to those earning 60 percent of AMI.

Units have washers and dryers, stainless steel appliances, central air conditioning, a smart keyless entry system, quartz countertops, and spacious closets.

Amenities include a rooftop swimming pool and sky lounge, a state-of-the-art fitness center with a yoga studio and strength training room, an outdoor courtyard, a co-working lounge with work pods, on-site pet grooming, a dog run, and 420 on-site garage parking spots.

The property also has around 3,000 square feet of retail and community space. The community space will be programmed by the City of New Rochelle.

The Leaf is located in downtown New Rochelle, offering residents access to restaurants, shops, and cultural offerings. The property is located within walking distance of the New Rochelle Transit Center, providing residents with direct access to Metro-North service and a short commute to Grand Central Terminal.

In the summer of 2024, BRP Companies unveiled Westchester County's largest mural on the façade of the building. In partnershipi with Seven Willow Collaborative, a real estate and cultural advisory firm, BRP commissioned local artist Na’ye Perez to create "From the Source," a 20-story mural celebrating life, community, and New Rochelle. Hand-painted by Colossal Media, the mural is "a vibrant testament to the area's rich culture and spirit."

SEE ALSO: New 20-Story Mural On The City Skyline Is Now Westchester's Largest

Financing for the project was provided through several sources, including a construction loan backed by taxable and tax-exempt bonds issued by the NYS Homes and Community Renewal (HCR) Housing Finance Agency, with credit enhancement from the Urban Investment Group at Goldman Sachs Alternatives. Additional funding was contributed by the Urban Investment Group at Goldman Sachs Alternatives, Westchester County, and Interfaith Dwellings Corporation, with permanent financing secured through Merchants Capital Corp. via the Fannie Mae MBS as Tax-Exempt Bond Collateral (MTEB) program.

Greystar is leading the leasing efforts at the property on behalf of BRP. More information on The Leaf can be found here, and more information about BRP Companies can be found here.