Condo Sales at White Plains Project Top $25M

The developers report that more than $25 million in signed contracts have been secured for the two developments, which are being built in the Downtown area, adjacent to Cappelli Enterprises' 450,000-sf City Center retail/entertainment project on Mamaroneck Avenue and Main Street.

The Trump Tower at City Center development will feature 212 luxury condominium units in a 35-story high-rise building. The project is a joint venture between Trump and Cappelli Enterprises. The Lofts at City Center, which is being developed by Cappelli Enterprises exclusively, will have 29 luxury condominium units.

A spokesman for Cappelli Enterprises says that 30 contracts have already been signed in a little more than a week on the first 53 units put on the market earlier this month.

"The level of interest we are seeing is unprecedented in my experience as a developer," says Cappelli, president of Cappelli Enterprises of Valhalla, the builder of City Center. "Over the last six months we have been keeping a list of the names of people who have expressed interest in buying. We have now begun scheduling the more than 500 people on this list prior to the formal opening of the sales center. And the response has been nothing short of astounding. In the first two days in which we had appointments with the first 50 people on this list, over 50% resulted in contracts. It's been truly overwhelming."

He says the strong response speaks volumes about the White Plains market. "Any doubts about the viability of sophisticated, high-rise and loft style living in Downtown White Plains fade very quickly when you see this kind of response," Cappelli adds. "We were very confident that the luxury condominiums at City Center would be a success. But, frankly, the response we have seen in the first two days goes beyond our wildest dreams."

Trump is also pleased about the sales activity thus far at Trump Tower at City Center. "Based on what we are already experiencing, we anticipate that our sales program will exceed our expectations," he notes. "Trump Tower at City Center is attracting the highest level of Westchester purchasers, as well as buyers looking for a luxury living alternative to Manhattan."

Asking prices for units on the market now at the Trump site range from $450,000 for a one-bedroom, one-and-a-half bath unit to $1.45 million for a three-bedroom, three-and-a-half bath. Units at the Loft property range in asking price from $408,000 to $1.25 million. The 5,000-sf sales center that will serve both buildings will formally open at 227 Main St. on Sunday, Oct. 17.