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GID Trades White Plains Apartments for $113M
CBRE’s Jeff Dunne, Eric Apfel, Jeremy Neuer, Stuart MacKenzie and Zach McHale arranged the $113-million sale of Windsor at The Gramercy, a 260-unit multifamily community in White Plains, NY. The team represented the seller, GID, while also procuring the buyer, Friedkin Property Group.
Built in 2003, Windsor at The Gramercy is an eight-story Class-A multifamily community located adjacent to the White Plains CBD. It’s within walking distance to dozens of restaurants and shopping options, and is less than a mile from the White Plains Metro-North Train Station and Transportation Center.
Dunne said, “There was significant interest in the offering due to its central location in White Plains and the opportunity to add value by renovating apartments and upgrading amenities to contemporary resident tastes. While southern markets are seeing a significant slowdown in rental growth and transaction activity, the New York City metro still offers compelling value to investors.”
- ◦Sale/Acquisition
