Life and Money Interview - This article was submitted on 2/13/08 to be published in the 2/22/08   issue of the 9 newspapers of Rising Publications (formerly Martinelli Publications) in Westchester County, NY including The Westchester Crusader, The Rye Chronicle, The Eastchester Record, The Pelham Sun, The Sound View News, Home News & Times, The Mt. Vernon Independent, Harrison Independent, and North Castle News.

Written by: Frank Sisco, 30 Mill Road, New Rochelle, NY 10804 Home office - 914.740.4422, Cell - 914.740.4422; Email – ideasmoney@aol.com www.LifeAndMoney.com Copyright 2008 Frank Sisco

"Developments in New Rochelle" A "Life and Money" interview. Interview of Nick Russo, President of Nick Russo Real Estate, Inc. by Frank Sisco, CPA, PFs on 2/6/08 If you're considering buying a new home, or commercial property, in New Rochelle, you should meet Nick Russo. Nick unabashedly states that New Rochelle, especially the new developments in the downtown area, provide excellent opportunities, despite the current uncertainties in the general real estate markets.   Even though the two new 39-story towers (Trump Plaza and Avalon on the Sound East) and other new building have transformed this suburban city, what's coming up is even more dramatic and will fulfill the current promise.   I focused on the magnitude of these changes by walking the downtown streets in February with Nick Russo and letting him talk about what he sees now and what he sees in a few years.   (You can see my videoclips and relive the tour on the internet. See the end of this article for the link).   Nick has his finger on what will likely not only make New Rochelle an even much better place to live, work and do business, but will also likely drive up market values significantly.   Over the last five years, Nick has been a top agent handling more real estate transactions in new buildings like 543 Main or the Davenport Lofts across the street, where Nick enjoys his spacious one-bedroom apartment of fifteen-foot ceilings. Our talk started at his office, and then outside in our walking tour:

Frank - It still doesn't seem like there is enough foot traffic, at least not yet.

Nick - There will be.   When you put 4,000 young professionals in a four-block radius, you start to attract the retailers every wants to see. Just in the past year, for building owner renting commercial space we've been able to get $30 - $35 per square foot, which is far cry from two years ago when it was $15 a foot.   Apparently something's going on.   I've been very lucky to have received calls in the last few weeks from several major retailers who are interested in locating to New Rochelle.

Frank - Is the easy access to New York City a big drawing card for New Rochelle? Nick - Yes.   I'm 35 and grew up in Manhattan, and have seen many areas undergo gentrification.   In the last few years, I've noticed that the same type of people who were attracted to downtown areas of Manhattan are the same as those now attracted to New Rochelle, especially downtown New Rochelle with its proximity to trains and highways to get into Manhattan.

Frank - Name some exciting things on the horizon.

Nick - Donald Trump is working with Louis Cappelli to develop a 39-story high-rise of luxury apartments on the parcel of the post office, called the Le Count Square Project.   Another very exciting project is the Simone development, also known as the Church-Division Project that will put 2,000 new residents here, and the related nearby new park and parking.  

Frank - What other factors make New Rochelle so attractive?

Nick - Thirty-two minutes to Grand Central.   Access to I95 and the Tran center.   Metro North.   The beautiful coastline with beaches less than one mile away, and all of its new pending developments.   Glen Island Park.   The rich history, solid residential areas, excellent resources, the rich mix of people and cultures.   well-ranked schools, new restaurants, the list goes on,

Frank - What's the best way for people to contact you. Nick - I'd be very glad to help.   My cell is 917.902.0538 and my office number is 914.637.0300, and we're here seven days a week.  

References Across the Media: The videoclips of the interview and walking tour is at the VideoVoom.com website in the section for nonprofit events at: http://www.videovoom.com/List_People_Real_Estate_Agents_.htm

About the author: Frank Sisco is a CPA, Personal Financial Specialist and video journalist who writes on topics related to life and money.   You can contact Frank by email at ideasmoney@aol.com or by phone at 914.589.1013 in order to express your opinion about this article or to obtain copies of prior articles.   Frank, and his wife and daughter, reside in New Rochelle, NY .