NEW ROCHELLE, NY (2006-05-23) The Lofts at New Roc, a community of luxury loft-style, co-operative apartments in the heart of downtown New Rochelle, are now being offered for sale at a newly opened Sales Center, Cappelli Enterprises announced today.

The Lofts at New Roc features stylish, loft-like apartments with most units having 11-foot ceilings and nine-foot tinted windows, offering spectacular views of the Long Island Sound. Built in 2001, The Lofts at New Roc and its sophisticated community of 98 modern rental apartments is being converted to for-sale, luxury, loft apartments. The conversion includes units with completely updated marble baths, hardwood floors, new stainless appliances, video-intercom systems, granite countertops and new picture windows.

“The Lofts at New Roc offer one of the best housing values in the region. This is an excellent opportunity for young professionals and first-time homebuyers to enter the housing market. The continued revitalization of downtown New Rochelle, including Trump Plaza across the street, will offer an exceptional investment opportunity, said Joseph Apicella, Senior Vice President of Cappelli Enterprises.

Purchase prices start below $200,000 (excluding maintenance costs). Apartments range in size from 677-square-foot studios to 1,868-square-foot two-bedroom units with two-and-one-half baths plus dens.

Various amenities have been added since the conversion to co-op, including a landscaped rooftop garden/patio, an expanded new clubroom, gym and lounge for residents. The building's entrance, lobby, elevator access and corridors have also been renovated.

Prospective buyers will check-in at the deluxe new Sales Center at 145 Huguenot St. and then walk across the street with a sales associate to The Lofts at New Roc, where they can tour three fully updated and decorated co-op homes. “The model homes set the tone for the quality and luxury that prospects will be experiencing when they purchase a new home at The Lofts building.", said Marge Schneider, Executive Vice President of Cappelli Enterprises, who is heading the marketing team, which includes the Marketing Directors of New York City. “Buyers can sip cappuccino while considering which home best suits their taste.

“The Lofts homes are very spacious, which has been a major attraction.", Apicella explained. “The New Roc City location means residents have immediate access to shopping, restaurants and entertainment, and New Rochelle recently completed transportation center, which means that Amtrak and commuter train service is just a short walk from your door. Grand Central Terminal in midtown Manhattan is just a 30-minute train ride.

New Rochelle is undergoing a Renaissance that has seen a transformation of its downtown business district into a more vibrant and active center. New restaurants, shops and housing have been coming on-line at a rapid rate over the last two years and numerous new projects are underway. Cappelli, in partnership with Donald Trump, has commenced construction of Trump Plaza, a new $90 million, 39-story, luxury, residential tower and retail center on a long vacant site across from the Lofts and New Roc City.

In addition to the construction of Trump Plaza, company President Louis R. Cappelli has been designated by the city to redevelop an additional full square block of the downtown area opposite New Roc City called “Le Count Square" which will include retail, restaurants, hotel, office and luxury housing. Cappelli's investment in the Trump Plaza and redevelopment site will top $1 billion.

“The changes taking place in downtown New Rochelle are dramatic", Apicella pointed out, “but there are still opportunities for home buyers to invest in this market at prices that are very affordable by Westchester standards. We believe the co-operative apartments at The Lofts will offer one of the best housing values in Westchester."

In addition to rail access, The Lofts is conveniently located directly off major highways, including I-95 and the Hutchinson River Parkway. Beaches, a marina, public golf courses and extensive shopping are all nearby.

For an appointment to see the models at The Lofts At New Roc, please call (914) 632-6300.

Cappelli Enterprises Inc. is a leading real estate developer and general contractor in the Northeast. Headquartered in Valhalla, NY, the company has built more than 10 million square feet of mixed use, retail, waterfront, residential, office building, laboratory and parking facilities.