NEW ROCHELLE, NY (2006-07-31) The resurgence of downtown New Rochelle soared to new heights today as developers Louis R. Cappelli and Donald J. Trump joined with Westchester County Executive Andrew Spano, New Rochelle Mayor Noam Bramson and other VIPs to celebrate the topping off of Westchesters tallest building to date the 40-story Trump Plaza luxury condominium tower.

The topping off ceremony, which marks the completion of the buildings final floor, was celebrated by raising a giant U.S. flag to the rooftop and unfurling it amidst bursts of confetti. Following the ceremony, a VIP reception was held at Mariano Riveras new restaurant -- Mo's New York Grill -- which recently opened in downtown New Rochelle and is another example of the continued downtown revitalization.

Rising 435 feet above downtown New Rochelle, Trump Plaza will offer magnificent panoramic views of the Manhattan skyline, Long Island Sound and the Hudson Valley area. Designed by the nationally recognized architectural firm of Lessard Architecture of Vienna, Virginia, Trump Plaza features 187 one-, two- and three-bedroom residences.

“By combining Manhattan-level amenities with the very finest in residential design, Trump Plaza is setting a new standard for luxury living in Westchester County, said Mr. Cappelli, President and CEO of Cappelli Enterprises. Speaking at a ceremony held at Le Count Place in direct view of the Trump Plaza construction site on Huguenot Street, he added:“Trump Plaza will be a world-class signature building that will transform New Rochelle skyline and continue the exciting revitalization already under way in this great city.

Mr. Trump said, “Once again my partnership with Louis Cappelli has produced another landmark building, this time in the heart of downtown New Rochelle. Just as Trump Tower helped spark a renaissance in downtown White Plains, Trump Plaza is generating new excitement and energy for New Rochelle by offering a level of luxury condominium living never before realized.

Trump Plaza is the newest chapter in one of the regions great real estate success stories as developers Louis R. Cappelli and Donald J. Trump have partnered to create Westchesters most exciting and best-selling residential projects. Their first venture, Trump Tower at City Center in downtown White Plains, was sold out in six months.

Trump Plaza is well on its way to setting records of its own. Since sales began several months ago, almost 40 percent of the 187 residences have been sold, making Trump Plaza one of the hottest-selling luxury condominiums in the region. The 352,600-square-foot tower is scheduled to be completed in the fall of 2007. “The buyer response to Trump Plaza has been truly phenomenal. This project is generating tremendous excitement throughout the entire New York Metropolitan area", said Mr. Cappelli.

“The presence of a new Intermodel Transportation Center a block away is a great amenity. The elegantly designed residences at Trump Plaza feature hardwood floors; gourmet kitchens with granite countertops, custom cabinetry, top-of-the-line floating glass and stainless steel appliances; marble baths with designer vanities and sinks; and other ultra luxury finishes that have become the hallmark of Trump buildings. The residences are priced from the low $500 to $1.5 million.

Trump Plazas wealth of first-class amenities include an elegant marble lobby, indoor swimming pool and full-service health club, a business center, a rooftop garden and 24-hour valet parking and concierge services. Trump Plaza offers the added convenience of being just a block from New Rochelles new rail Transportation Center and five minutes from Interstate 95.

The Trump Plaza Sales Center, which is located at 145 Huguenot Street immediately adjacent to the construction site, features full-size, furnished model apartments that include all the fixtures and finishes that will be standard in the condominium residences.

The development of Trump Plaza represents the latest investment by Cappelli Enterprises in downtown New Rochelle. The companys $250 million New Roc City mixed-use development has played a key role in the rebirth of downtown New Rochelle.

Cappelli will soon embark on plans for the redevelopment of the entire city block opposite Trump Plaza. Called LeCount Square, the project would involve approximately 1 million square feet of mixed-use development comprising hotel, office, retail and luxury residential housing uses. All of these developments will bring Cappelli's total investments in New Rochelle to over $1 billion.

The Marketing Directors, Inc. is the exclusive sales and marketing agent for Trump Plaza. George A. Fuller, a Cappelli company, is the general contractor.

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.