As NYC Rentals Increase in Price, Westchester Looks Like “Hot Property”

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Local Firm of Young, Up-and-Comers Leads Rental Â?RenaissanceÂ? in White Plains

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Paddington Stone, a year-old real estate brokerage firm with offices in White Plains, has exceeded all expectations by leasing up nearly 50% of the units in the Gramercy, a new 260-unit luxury rental building at 2 Canfield Ave in White Plains, in only 6 weeks. The company’s Residential Lease-Up division was awarded the exclusive to the Gramercy in April and expects to close on several more units as disenchanted renters from New York City and surrounding areas migrate north for better-priced rentals.

Owned by 31-year old real estate wunderkind, Adam Kessner and partner Michelle Coletti, Paddington Stone was chosen from a field of older, more established Westchester firms and has gotten “amazing results for us by having a laser-like focus on the Gramercy’s target market,” says Andrea Foertsch, Director of Haveland Estates, LLC, owners of the property.

Paddington Stone specializes in hiring young agents who not only reflect much of its clientele but are also energetic, hard-working and adept at Internet marketing. Adam did his research while paying his dues as a young realtor and found that some of the “brand name” companies were “somewhat outdated in technology and other areas” and have many agents who dabble in realty as a hobby instead of a full-time career.

The Residential Lease-Up division of Paddington Stone which takes over a vacant building, putting agents on-site and leasing it at an accelerated pace, is also responsible for successfully renting nearly 100% of the units in 66main, the first geothermally heated and cooled apartment building in the county, located in the Yonkers waterfront area.

Paddington Stone, a full-service real estate and brokerage firm, has two offices in White Plains and will open a third in Stamford, CT this fall. The company was founded in 2007 and currently has 25 agents on staff and $1 million in revenues expected this year. For more information, visit


Marijane Funess



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