Printhouse High-Rise In New Rochelle Changes Hands In $22.75M Deal

NEW ROCHELLE, NY — A recently opened luxury residential building downtown has been purchased by new owners.

Invel Capital announced that it has completed the off-market acquisition of The Printhouse. The 72-unit residential property is located at 165 Huguenot Street in downtown New Rochelle.

Invel said it acquired the property for $22.75 million. The high-rise, completed in 2019, features 72 studio, one- and two-bedroom apartments, and a 2,700-square-foot commercial space. Amenities include covered parking, a fitness center, a rooftop terrace with outdoor bar, a business center, a lounge and even a dog park.

"We are excited to play a role in the continued revitalization of the New Rochelle urban core and consider The Printhouse one of the premier apartment communities in this market," Managing Principal of Invel Capital Ryan Goldstein said. "The property’s distinctive units, robust amenity set and immediate access to transit and neighborhood attractions have made it stand out to renters as a boutique, transit-oriented luxury housing community. We are confident that New Rochelle, which already benefits from strong demographics and rental demand, will continue to thrive as renters, homeowners and investors increasingly pursue opportunity in vibrant and walkable urban and suburban environments."

The privately held company that now owns the property said the short walk from the New Rochelle Amtrak-Metro North station, which offers a 30- to 35-minute direct commute into New York’s Grand Central Terminal in Midtown Manhattan, is a key selling point for both residential and retail tenants.