Luxe Living – The Vanderbilt
February 9, 2018
In a departure from its familiar for-sale multifamily communities, the Beechwood Organization debuts a unique $120 million rental development this month.
The Vanderbilt, billed as Long Island’s first combination luxury apartment and extended-stay hotel project, brings 178 high-end rental residences and 17 hotel suites to a 4.8-acre site next to Beechwood’s sprawling 720-home Meadowbrook Pointe condo complex in Westbury. Featuring a mix of one and two bedroom residences, The Vanderbilt’s apartments range in size from 880 to 2,100 square feet. Monthly rents start at $3,500 and climb to $8,000 for a two-bedroom penthouse. The hotel suites, complete with kitchenettes, marble bathrooms and 14-foot ceilings, start at $4,800 a month and the minimum stay is 30 days.
Both hotel guests and residents at the six-story Vanderbilt share a plethora of amenities, not the least of which will be a new 5,000-square-foot Tom Schaudel restaurant off the lobby called Kingfish that’s slated to open in April.
In addition, residents and guests will find a library, billiards and game room, two conference rooms, children’s playroom, a grab-and-go cafe, outdoor swimming pool, doorman and front desk. The Vanderbilt’s fitness center offers on-site personal training and physical therapy.
The Vanderbilt isn’t the first rental product for Jericho-based Beechwood. The company developed nearly 500 apartments in the outer boroughs of New York City in the early 2000s which it eventually sold. But the Westbury development is Beechwood’s first rental project on Long Island.
“We had Meadowbrook Pointe and a lot of inquiries about renting units there,” said Beechwood principal Steven Dubb.
“That was the spark. We thought we should build a similar product as a rental. Economies of scale allowed us to use upgraded finishes that you wouldn’t normally see in high-end multifamily communities on Long Island.”
The expected natural hardwood flooring and kitchen cabinetry, quartz countertops and stainless-steel appliances are all part of The Vanderbilt’s rental residences, but there are other touches, such as the woven wool carpeting imported from Ireland, that set it apart from other high-end products.
A custom Siberian marble medallion is perched at the center of The Vanderbilt’s 22-foot high rotunda lobby. There’s a double-sided Travertine stone fireplace that highlights the building’s entryway and serves as a focal point for the library, adorned with leather-tiled walls.
Common areas feature original paintings from local artists and photos by Andrew Blauschild, who has lensed beach scenes and surfers on the East End. There is also art and curiosities that reflect Long Island’s motor racing history. In fact, The Vanderbilt’s name is a nod to the early 20th century Vanderbilt Cup auto races once held at nearby sites.
“We pulled a lot of inspiration from the automobile and vintage equipment,” said Abby Bullard, an associate interior designer with Manhattan-based Stonehill Taylor, which designed The Vanderbilt’s interior spaces. “We layered those elements into a modern classic interior design shell.”
Bullard, who has worked on high-end boutique hotels in Manhattan like The Refinery and The Renwick, says The Vanderbilt’s finishes are similar to pricey residential properties found in the city.
“It is definitely equally compatible with some of the high-rise condo buildings in New York City I’ve worked on that sell for $2 million and up,” Bullard said.
Beechwood began The Vanderbilt project in Dec. 2015 after getting approvals from the Town of Hempstead. The company is building a soccer field on 3.2 acres of adjacent property that’s been dedicated to the town as part of the development’s community benefit package.
Though not age-restricted, Dubb says the target market for the Westbury project are wealthier empty nesters “who live on Long Island and don’t want to be tied down to a home.”
Meanwhile, move-ins at The Vanderbilt begin this month and the development is already nearly half leased, Dubb says, adding that he expects the building to be fully leased by the summer.
“We’ve tapped into a vein here,” he said. “There’s nothing comparable to this product on Long Island.”
Original article from Long Island Business News
By DAVID WINZELBERG