WHITE PLAINS, N.Y. (PRWEB) January 14, 2015
Louis R. Cappelli, Managing Member of Renaissance Rental Partners, LLC, sponsor of The Residences at The Ritz-Carlton, Westchester, has announced the sale of a 10,700 sq. ft. full floor penthouse in Tower 2 of the mixed-use development comprised of two 42 story residential towers and a full service Ritz-Carlton Hotel. The price for the customized penthouse located on the 41st floor is $10,500,000. The buyers, whose names are not disclosed, are a European family whose business interests include real estate on an international level.
In addition to this sale, the last penthouse in Tower 1 was also sold in the 4th quarter of 2014 to an American financial executive. The price for the 41st floor, 5,200 sq. ft. customized penthouse was $5,000,000.
“These sales represent the largest condominium homes to be sold in Westchester County and reflect the growing confidence on the part of not only American buyers, but Europeans who clearly understand the true value of top quality real estate outside of Manhattan,” said Cappelli. “These individuals are savvy buyers who know that a comparable residence in Manhattan would be triple or quadruple the price.”
Cappelli pointed to unequaled views of the Manhattan skyline, Long Island Sound and Westchester/Connecticut countryside, coupled with the ability of buyers to take a raw penthouse space and design a residence customized to their individual taste as important factors in the decision to purchase.
“Of course”, he added, “the fact that the incredible space and views are complemented by the legendary service provided by The Ritz-Carlton Hotel Company management, creates the perfect package for an unprecedented lifestyle.”
Nancy Kennedy of Houlihan Lawrence Real Estate, exclusive selling agent for The Residences at The Ritz-Carlton, Westchester noted that there is a marked increase in activity from buyers who previously were focused solely on Manhattan. “There is an interesting dynamic occurring,” she said. “Luxury high rise buyers are discovering Westchester and, in particular, White Plains. It’s like they’ve found a secret gem of walk to convenience, fantastic views, huge floor plans ranging from 2,500 to 10,000 sq. ft. and unbelievable value,” she added.
Tower 2 of the Residences at The Ritz-Carlton Westchester is also home to the 5,400 sq. ft. Westchester Magazine 2014 Penthouse Dream Home which has created a major buzz in the Westchester community since its introduction in September.