- Not to be confused with Louis J. Cappelli (born 1931), chairman of Sterling Bancorp from 1992 to 2017.
Louis R. Cappelli (born c.1951) is an active real estate developer mostly in Westchester County, New York. Cappelli has developed more than twenty million square feet of mixed use, retail, residential, office, medical and parking facilities throughout the northeast, with a portfolio value exceeding $3 billion. His firm, Cappelli Enterprises, operates out of White Plains, New York.
Cappelli graduated with a Bachelor of Science in Civil Engineering in 1973 from Notre Dame University. His father, Bronx-born Luca Cappelli (1929-2011), founded Cappelli Enterprises in 1985 after working his way up in the construction industry, having started Luna Electric Co. in 1958 upon his relocation to Yonkers, followed by Saturn Construction Co. in 1969. In 1998, the company sold two major properties in Valhalla to Reckson Associates, and the company has partnered in various ways with Reckson and its successor firm RXR Realty.
Since then, Cappelli has had an integral role in reviving the downtown districts of New Rochelle and White Plains with his targeted large scale mixed-use developments. Between 2001 and 2008, Cappelli developed White Plains City Center, Trump Plaza New Rochelle, The Ritz-Carlton Hotel in White Plains, The Residences at The Ritz-Carlton, Westchester, The Lofts at New Roc, Trump Parc Stamford, and Trump Park Residences in Yorktown. Cappelli Enterprises has also received approvals for The Ritz Carlton Hotel and Residences in Stamford, Connecticut as well for River Park Center, a 4,000,000-square-foot (370,000 m) mixed use development located in downtown Yonkers.
Cappelli is also the second largest stockholder in Empire Resorts which operates the Monticello Racetrack and racino. Cappelli was also involved in the process of building a casino with Mohegan Sun on the site of the Concord Resort Hotel (estimated cost between $600 million and $700 million in Phase I, and over $1 billion in total). It opened in February 2018 and was one of the largest development projects in the history of upstate New York.
Louis Cappelli is one of six children of Luca Cappelli and Concetta Ciraldo (d. 2012), Cappelli also serves as the Chairman of the charitable Louis R. Cappelli Foundation. He is married to actress Kylie Travis whom he met through Donald Trump. His son is a vice president within his organization. Louis spends time mainly between his main penthouse residence in Westchester, and New York City.