Posted Nov 9, 2025, 8:04 PM
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NYC/NJ/Miami-Dade
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Join Date: Jul 2013
Location: Great State of NJ
Posts: 49,274
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NEW ROCHELLE | 438 Main Street | FT | 6 FLOORS
Project: 438 Main Street
Quote:
The entity 438 Main Street LLC, formed through a partnership between the St. Katherine Group and Kings Capital Group, is seeking financial incentives from the New Rochelle Industrial Development Agency for an affordable housing project at 438 Main St. in New Rochelle. The city’s Planning Board gave approval to site plans back in November of 2022 with an administrative amendment in December 2024. The building would include 115 units including one unit reserved for the building’s superintendent. The project also includes commercial space as well as 80 parking spaces.
The IDA was considering a sales and use tax exemption of $2,100,500 and a partial real estate property tax abatement structured under a PILOT (payment in lieu of taxes) agreement. There also is a mortgage recording tax exemption under consideration for the project.
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https://westfaironline.com/affordabl...-new-rochelle/
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