Saber-PCD, Circle Squared Venture Break Ground On Rental Apartment Project Near Westchester Mall
Real Estate In-Depth | December 2019
WHITE PLAINS—Development partners Saber Real Estate Advisors LLC, PCD Development LLC, and Circle Squared Alternative Investments broke ground on Dec. 4 on “The Duet,” luxury multi-family residential complex on Hale and Maple avenues in White Plains.
The development, across from the Neiman Marcus entrance at The Westchester and adjacent to Whole Foods, will feature 127 rental units in two buildings and offer residents luxurious apartments and high-end amenities in a premier location in the heart of White Plains. City and Westchester County officials were on site for the groundbreaking.
“I’m happy to welcome The Duet to White Plains,” said White Plains Mayor Thomas Roach. “This project will add to the lively and interesting vibe we have been working to create in Downtown White Plains. The city has many amenities to offer that will complement this project. I’m pleased to see this project moving forward, thanks chiefly to Marty Berger/Saber and their confidence in our city.”
Martin Berger, managing member of Saber Real Estate Advisors of Armonk, said, “We’re excited to offer residents an unparalleled elegant lifestyle and to further the city’s goal of creating a vibrant ‘24/7 live-work-play community’. The Duet will enhance the downtown by bringing in new shoppers and patrons to enjoy the city’s dynamic retail and dining scene.”
The Duet at 97-114 Hale Ave. will be comprised of two buildings – the east lot will be seven stories high with 70 units, and the west lot will be eight stories with 57 units. Both buildings will offer secure and private climate-controlled indoor parking for residents and a mix of studio, one- and two-bedroom units. The units will also feature double vanities and high-end appliances, along with access to rooftop and indoor lounges, a fitness facility and business center.
“We are thrilled to be partnering with Saber Realty Advisors and Circle Squared on this strategic opportunity in Downtown White Plains,” said Jonathan Stein, managing member of PCD Development LLC of New Providence, N.J. “The development of this site is a great complement to our business pipeline in Westchester County, which includes the Edge-on-Hudson master-planned community in Sleepy Hollow.”
“White Plains is the jewel of Westchester County,” said Jeff Sica, president and CEO of New Jersey-based Circle Squared Alternative Investments. “With so much to offer from a commerce and recreation perspective, the city continues to grow as it attracts new businesses and families looking to call White Plains home. We could not be more excited to work with our partners to bring this project to life and give those eyeing White Plains as a place to live, a beautiful place to do so.”
Saber is involved in a number of developments in the New York region, including The River Club, a luxury apartment and retail complex in Bogota, N.J, and Hudson Heritage, a $300-million mixed-use intergenerational community on 156 acres in the Town of Poughkeepsie. Other Westchester County developments include Rivertowns Square in Dobbs Ferry and The Collection in White Plains.
PCD Development’s existing portfolio, including the current acquisition/development pipeline, comprises more than 5,000 residential units and 700,000 square feet of commercial space primarily in New Jersey and New York, including the $1-billion Edge-on-Hudson master-planned, mixed-use community in Sleepy Hollow; the $250-million master-planned, mixed-use Broadway Place redevelopment in Long Branch, N.J.; and the 421-unit River Club redevelopment in Bogota, Bergen County, N.J.
Circle Squared or its affiliates have been a joint venture member, consultant or otherwise involved with more than $800 million in real estate developments and transactions since its founding. The leadership of Circle Squared has been a part of the acquisition, or development of more than 5,000 residential units throughout their careers.