Downtown White Plains Office Complex to be Reimagined

The Westchester Financial Center in Downtown White Plains, which includes the 50 Main St. office building, has been sold for $83 million. The three-building complex has been renamed City Square.

WHITE PLAINS—A more than half-a-million square-foot office complex in Downtown White Plains has traded for $83 million and the new ownership plans to convert a portion of the existing space to luxury rental apartments.

Entities affiliated with the principals of Ginsburg Development Companies of Valhalla, NY and Robert Martin Co. of Elmsford, NY acquired the Westchester Financial Center, a three-building, 571,000-square-foot office complex from Mack-Cali Realty Corp. The Westchester Financial Center was built in the mid-1980s by Robert Martin Co. as a three-building complex. The property was acquired in 1997 by the Cali Realty Corp. as part of its acquisition of the Robert Martin Co. Cali was later acquired by Mack Co. and subsequently operates as Mack-Cali Realty.