Waterton Buys 501-Unit White Plains Resi Community
Waterton has re-entered the Tri-State market with the acquisition of 15 Bank, a 501-unit apartment community in White Plains, NY. The property, situated at 15 Bank Street, will undergo value-add renovations and updates. CBRE brokered the sale with a team led by Jeffrey Dunne, Stuart MacKenzie, Eric Apfel, Travis Langer, and Daniel Blumenkrantz.
The community features one- and two-bedroom apartment homes. Shared spaces will be transformed, including repurposing a street-level retail space into a gym, converting the existing gym into a package room, and reimagining an indoor pool into an indoor/outdoor dining venue. Additional improvements include a community kitchen, lounge area, and technological enhancements.
“The acquisition of 15 Bank taps into the emergent vibrancy of White Plains, and provides seamless access to midtown Manhattan via the White Plains Metro-North train station directly adjacent to the property,” said Jeremy Stern, vice president of acquisitions at Waterton.
Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money.
With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.