Berkadia Arranges $126.4M Refinancing of 28-Story Luxury Apartment High-Rise in Downtown New Rochelle, New York
New Rochelle, N.Y. – June 4, 2026 – Berkadia, a distinguished leader in the commercial real estate industry, announced today that it secured a $126.407 million loan to refinance Two Clinton Park, a 28-story luxury apartment tower with 390 residences and 7,574-square-feet of ground-floor retail space in downtown New Rochelle, New York.
Managing Director Brad Williamson of Berkadia Miami and Senior Managing Director Chris Ellis of Berkadia Denver, along with Managing Director Paul Patafio of Hudson Realty Capital, arranged the financing on behalf of the sponsors, RXR and Bridge Investment Group, with support from Senior Managing Director Mitch Sinberg and Managing Directors Scott Wadler, Matthew Robbins, Kevin Batt, Brian Huff and Matt Schildwachter.
The property, completed in 2024, is now 93% occupied. RXR is the master developer behind New Rochelle’s ongoing downtown transformation and has invested more than $1 billion in the city’s redevelopment.
The loan is a Fannie Mae Near Stabilization execution – a conventional, eight-year loan, which features full-term interest-only payments amortized over 35 years.
“Two Clinton Park represents the next generation of transit-oriented luxury housing in the New York suburbs, combining institutional-quality design and amenities with immediate access to Manhattan,” said Williamson. “The strength of the sponsorship, combined with New Rochelle’s pro-development framework and continued population growth, made this an exceptionally compelling financing opportunity for the agency market.”
Located at 50 Clinton Place, Two Clinton Park features studio, one- and two-bedroom residences ranging from 461 to 1,197 square feet, along with penthouse residences. Apartment interiors include floor-to-ceiling windows, quartz countertops and backsplashes, integrated Gaggenau and Bosch appliances, custom closets, in-unit washers and dryers, private terraces in select residences, and sweeping views of downtown New Rochelle and the Long Island Sound.
Residents have access to an extensive indoor-outdoor amenity package designed to deliver a hospitality-driven lifestyle experience. Amenities include coworking lounges, a fitness center, spa and sauna, screening room, pet spa, landscaped outdoor terraces with grilling stations and fire pits, and concierge services. Toast Coffee + Kitchen, a brunch destination, recently signed a lease for 5,000 square feet on the ground floor of the building. Situated two blocks from the New Rochelle Metro-North station, the property offers direct access to Grand Central Terminal in approximately 30 minutes via train. The tower is part of New Rochelle’s rapidly evolving waterfront district, which has emerged as a model