New White Plains Condo Sells Out in Six Weeks
Sales of homes in Westchester County continued booming in 2021. The flourishing sales in Westchester County is leading to thriving statistics across the Hudson Valley with numbers higher than compared to the past three years according to Hudson Gateway Association of Realtors (HGAR).
County Executive George Latimer said: “We have long known that Westchester County is a desirable place to live. No one is fleeing Westchester County – and anyone who says that is just pushing rhetoric. We have urban, suburban and even rural settings, we have an excellent mass transit system and a top class educational system. Business, small and large, is booming here in Westchester and our housing market reflects all of this and more.”
According to HGAR, Q2 2021 continued the trends seen in the first quarter – strong buyer demand and low inventory in most market segments, coupled with low interest rates, drove multiple offers for above asking price on many properties.
• Single-Family Median Sales Price increased 17.7 percent to $835,500.
o Compared to $710,000 in second-quarter 2020 and $702,500 in the same period of 2019
o In May, the National Association of REALTORS® reported that the median sales price of existing homes rose by 24% over the previous year – the highest increase since 1999.
• Single-Family Closed Sales were up 54.4 percent to 1,828.
• Condos Closed Sales were up 95.6 percent to 401.
• Co-ops Closed Sales were up 47.1 percent to 509.
• Condos Median Sales Price increased 3.8 percent to $405,000.
• Co-ops Median Sales Price held steady at $190,000.
CEO Hudson Gateway Association of REALTORS® (HGAR) Richard Haggerty said: “Residential home sales in Westchester County for the second quarter of 2021 continued a remarkable recovery from the depths of the Covid-19 crisis a year ago, with strong gains both in the number of sales as well as increased median sales prices, and at this juncture these trends show no signs of abating.”
For information on programs to assist with homeownership, click here: https://homes.westchestergov.com/homeownership
The Centrale Condominium, a former rental property that was offered as condos by RockFarmer Properties, sold out in six weeks. “Following the onset of the pandemic, we realized White Plains and The Centrale offered an incredible value play for residents looking for more space in a fully amenitized building,” said George Michelis, Principal of RockFarmer Properties. “We are honored and humbled by the incredible interest in the project and thank everyone involved for
helping execute such an impressive renovation and sellout.”
Located at 257 Central Avenue in White Plains, The Centrale features 30 pristine 1,200- to 1,600-square-foot two-bedroom homes that blend contemporary elegance with traditional comfort. On-site amenities include private parking; a fitness center with an attached sauna; an outdoor children’s playground; a sun-drenched sky lounge; and a
spacious rooftop terrace with 360-degree views and built-in dining sets.
RockFarmer, which purchased 22 of the building’s 30 residences in 2012 and maintained the units as rentals before embarking on a complete renovation and capital improvement of the asset beginning in November of 2020. Upgrades made by RockFarmer included new appliances, vanities and fixtures, as well as a complete renovation of the building’s common areas, lobby, gym, resident’s lounge and rooftop spaces.
Nest Seekers Development Marketing handled the sales and marketing on behalf of RockFarmer Properties “The Centrale presented a really unique offering for buyers in today’s market—spacious layouts, high end finishes and an unbeatable location,” said Bianca D’Alessio, Director of New Development at Nest Seekers International. “We are thrilled to have successfully sold the building out in a matter of weeks—we even had several bidding
wars from professionals and young families on the hunt for more space without sacrificing on conveniences.”
Each home at The Centrale boasts a private outdoor space and high-end finishes throughout. Asking prices at the luxury property started at $450,000. The Centrale is located within two Westchester staples – Main Street
in White Plains and the iconic Central Ave. Residents can walk to the White Plains Metro North stop in under 15 minutes, and they can get to Manhattan in 35 minutes by car.
“As interest in suburban markets grew nationwide following the pandemic, we realized that now would be the time to upgrade the units and sell them as condos. It’s great to see the market respond so strongly,” said Steve Boudourkis, Asset Manager of RockFarmer Properties.
