A Busy Year for Commercial Sales In Westchester
Westchester’s commercial real estate market had a busy year in 2017, with some record-breaking property sales. According to a database compiled by LoHud.com, the biggest commercial deal of the year was the sale of Westchester One, a 21-story office tower in Downtown White Plains for $138 million. By comparison, the highest residential sale in 2017 was $9.19 million for a residence in North Castle.
The second highest commercial deal of 2017 was Ginsburg Development Companies purchase of The Landing on Mohegan Lake, a 20-acre rental housing community in Yorktown, for $54 million. Right behind that deal was the $53 million sale of the former Westchester Pavilion site at 60 S. Broadway in White Plains to Lennar Corp. Overall, the top ten commercial deals of the year totaled approximately $414 million.
This year has gotten off to a strong start with the Wegmans purchase 108-110 Corporate Park Drive in Harrison for $26.5 million. The company plans to build Westchester’s first Wegman’s on the former office park site.
“We continue to see robust growth and encouraging development across Westchester,” said Marsha Gordon, President and CEO of the Business Council of Westchester. “Developers are seeing the advantages of doing business in Westchester because of the tremendous talent, accessibility and quality of life offered throughout the county.”
Similar News Items
A fruitful collaboration between the Westchester Innovation Network’s (WIN) City Labs initiative and Iona University’s Hynes Institute for Entrepreneurship & Innovation culminated in the delivery of student-led recommendations to address parking challenges in the Village of Mamaroneck’s bustling downtown. Following an eight-week immersion into the Mamaroneck community, students from the Hynes Institute presented their findings […]
Thirty-six members of the Business Council of Westchester (BCW) traveled to the state capital on Tuesday for their annual Albany Lobby Day, providing a valuable opportunity for local business leaders to engage directly with state government. The day offered BCW members firsthand insight into the inner workings of state operations through meetings with elected officials, […]
The Business Council of Westchester (BCW) hosted its latest KeyBank Speaker Series event on Monday, featuring a timely discussion with two of the region’s Congressional representatives, George Latimer (D-16) and Mike Lawler (R-17). The KeyBank Speaker Series provided a valuable platform for Westchester business leaders to hear directly from their Congressional representatives. The congressmen engaged […]
Become A Member
Join the county’s largest and most influential business organization today.
JOIN NOW!
Leave a Comment
You must be logged in to post a comment.