San Diego, San Jose, New York, and Boston also saw affordability ratios well above 60%.
A Mamdani candidacy and potential mayoralty could signal a policy environment more focused on tenant protections, rent regulations and public housing expansion.
He has been honored with the Five Star Real Estate Agent Award for 16 consecutive years.
The office buildings were all built in the 1970s and early 1980s and are currently approximately 50% vacant.
WHITE PLAINS—Five underperforming office buildings formerly known as “The Exchange” on Westchester Avenue were sold to a partnership of Rose Equities and Garden Commercial for $37 million.
The Rose-Garden entity “White Plains 700 Westchester LLC” announced the deal on Monday (June 2). The buildings: 701, 707, 709, 711 and 777 Westchester Ave. total 676,113 square feet of office space located at the intersection of Westchester and Bryant avenues.
The office buildings were all built in the 1970s and early 1980s and are currently approximately 50% vacant. The portfolio sits on a 55-acre campus and has more than 2,500 feet of frontage along I-287.
There was a proposal a few years ago to begin the conversion of at least one of the buildings at The Exchange (701 Westchester Ave.) to residential use, however, that plan failed to move forward after it received strong local opposition from a number of neighborhood organizations.
Rose Equities is headquartered in New York City, while Garden Commercial hails from Short Hills, NJ.
According to the announcement, the portfolio was acquired “for general investment purposes.” CBRE represented the seller in the transaction.
San Diego, San Jose, New York, and Boston also saw affordability ratios well above 60%.
A Mamdani candidacy and potential mayoralty could signal a policy environment more focused on tenant protections, rent regulations and public housing expansion.
The median price of a single-family home in Westchester rose to $999,000 in May, up 2% from a year ago, underscoring just how resilient demand remains.
The median existing-home price for all housing types was up 1.3% to $422,800 from one year ago ($417,200).
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