Grand Street Lofts

Cushman & Wakefield, as exclusive advisor, is pleased to present for sale Grand Street Lofts, located at 690 Mamaroneck Avenue in the heart of Mamaroneck, New York (the “Property”).

Completed in 2019, the Grand Street Lofts consists of 21 thoughtfully designed residential units above a fully leased ground-floor retail component occupied by Brooklyn Bagel & Coffee Company. The residential mix includes nine one-bedroom units ranging from approximately 770–790 SF and 12 two-bedroom units ranging from approximately 950–1,170 SF, including two affordable units. Designed to appeal to today’s renter, residences feature modern interiors with stone countertops, luxury vinyl tile flooring, stainless steel appliances, in-unit washer and dryer, 9’ ceilings, spacious bedrooms, oversized windows, and contemporary finishes throughout. Residents also benefit from a highly amenitized living experience including an exercise studio, rooftop terrace with a BBQ grill, lounge seating and fire pit, covered parking, common area Wi-Fi, package delivery lockers, bike storage, and keyless unit entry.

Grand Street Lofts presents investors with the opportunity to acquire a newer vintage multifamily asset with a clear path to revenue growth in one of Westchester County’s most desirable and supply-constrained rental markets. Current in-place average market rents equate to approximately $3.74 PSF, representing a meaningful discount to nearby luxury apartment communities in Mamaroneck, Larchmont, Harrison and Rye achieving rents in the $4.00–$4.50 PSF range. Comparable Mamaroneck properties including The Mason ($4.36 PSF) and Marina Court ($4.52 PSF) demonstrate the Property’s ability to capture future rent growth through continued operational optimization and strategic mark-to-market opportunities.

Ideally positioned in the center of the Village of Mamaroneck, Grand Street Lofts offers residents immediate access to the area’s vibrant downtown amenities, including an eclectic mix of restaurants, cafés, shopping, and entertainment along Mamaroneck Avenue. The Property is just a 5-minute walk to the Metro-North Railroad station, providing direct commuter rail service to New York City in approximately 40 minutes, while also benefiting from immediate access to Interstate 95 and the Hutchinson River Parkway, allowing convenient connectivity throughout the Tri-State region. Residents are within close proximity to major employment and lifestyle destinations including White Plains and Greenwich, in addition to Harbor Island Park, Long Island Sound waterfront recreation, beaches, marinas, and some of the region’s top-ranked public schools. Supported by highly affluent demographics, strong commuter connectivity, and extremely limited new multifamily supply, Mamaroneck continues to experience strong renter demand from residents seeking an upscale suburban lifestyle with convenient access to Manhattan.

Grand Street Lofts represents a rare opportunity to acquire a newer construction multifamily asset in a high-barrier-to-entry Westchester County submarket with durable renter demand and meaningful embedded upside. With a premier downtown location, attractive amenity package, and clear path to future NOI growth, Grand Street Lofts is exceptionally well-positioned to benefit from continued strength in the lower Westchester multifamily market.