The Residences at The Ritz-Carlton, Westchester Reports Record Sales of More Than $33M in 2016
Real Estate In-Depth | January 13, 2017
WHITE PLAINS—The Residences at the Ritz-Carlton, Westchester reported earlier this month that 22 residences in the 42-story Tower II in Downtown White Plains were sold last year for a total sales volume of more than $33 million.
The average price per square foot was $705. Of the 22 sold, nine were penthouse residences with a median sale price of $2.23 million. Only 16 of the total 333 residences in the two-tower complex remain available.
“To describe 2016 as a very good year would be an understatement. Our sales activity has been brisk all year long and we expect it to continue into 2017. The high-end real estate market in Westchester is strong and buyers are responding to the unique luxury lifestyle that we are offering,” said Nancy Kennedy, a Houlihan Lawrence broker who is managing sales for the condominium tower.
Kennedy said they are attracting buyers who want to downsize their space while “upsizing” their lifestyle. “We are seeing quite a few buyers from Scarsdale as well as White Plains, Armonk and Mamaroneck. These buyers like the fact that they can stay connected to their previous neighborhood while enjoying the many benefits of a Ritz lifestyle in the heart of downtown White Plains,” she said.
Kennedy added the buyers are very savvy and understand the value at the Ritz Residences where the price per square foot is significantly less than the cost of a comparable luxury high-rise condominium in Manhattan.