City Center units all the rage.Just three weeks after the marketing campaign began for the Trump Tower Trump Tower Trump Tower is the name used for several skyscrapers owned and operated by real estate magnate Donald Trump. Each of these skyscrapers is predominantly composed of residential condominiums and found in major cities. at City Center and The Lofts at City Center, sales contracts Sales Contract Contract between a seller and buyer for the sale of goods, services, or both. have been signed for nearly half of the luxury condominium condominium In modern property law, individual ownership of one dwelling unit within a multidwelling building. Unit owners have undivided ownership interest in the land and those portions of the building shared in common. homes. The torrid pace has been so intense that sales activity for The Lofts was temporarily curtailed to give the developers an opportunity to assess the market before releasing additional inventory. Initially, the developers had planned to make a total of 53 condominiums available for the first phase of marketing. That number quickly proved unrealistic. To date 130 units have been released. Contracts for roughly half of the 212 condominiums in the 35-story Trump Tower and half of the 29 residences at The Lofts have been signed. "No one anticipated that we would get the buyer reaction we are experiencing," developer Louis Louis, titular duke of Burgundy Louis, 1682–1712, titular duke of Burgundy; grandson of King Louis XIV of France. He became heir to the throne on the death (1711) of his father, Louis the Great Dauphin. Cappelli commented following the third consecutive week of record breaking activity. "The demand for sophisticated downtown residences has been nothing short of extraordinary. The market for these high-rise and Soho-style luxury condominiums in White Plains is extremely strong and proves that our faith in the concept was completely on target. This is a very significant moment in terms of evaluating the future of Westchester's overall housing market. It adds an entirely new dimension." Cappelli, whose company conceived and created the $350 million City Center mixed-use mixed-use adj. Containing or zoned for commercial and residential facilities or development: a 40-story mixed-use tower; a mixed-use parcel of land. complex in downtown White Plains, said that those signing contracts for purchase of the condominiums include many "empty-nesters" who are selling large single-family sin·gle-fam·i·ly adj. Relating to or being a dwelling designed for one family only: a single-family home; single-family occupancy. homes to move into a luxury condominium. Another significant group of buyers are Manhattan residents who are seizing on the opportunity to have a spacious condominium at a bargain. "We're tapping into a market that obviously was out there, but that wasn't being served," Cappelli said. "Westchester had no housing of the style and quality that these buyers were seeking. Clearly, the demand is there if the product is right. Trump Tower and The Lofts at City Center are providing a unique style of living for the first time in Westchester and the response has been dramatic." City Center is also Donald Trump's first foray into Verb 1. foray into - enter someone else's territory and take spoils; "The pirates raided the coastal villages regularly" raid encroach upon, intrude on, obtrude upon, invade - to intrude upon, infringe, encroach on, violate; "This new colleague invades my high-rise residential development in Westchester. Last week, the 5,000 s/f Sales Center for Trump Tower and The Lofts formally opened to the public. It has been bustling bus·tle 1 intr. & tr.v. bus·tled, bus·tling, bus·tles To move or cause to move energetically and busily. n. Excited and often noisy activity; a stir. with activity ever since. Trump Tower at City Center features 212 residences in a 35-story building that offers sweeping views of Long Island Sound and the Manhattan skyline. The residences range in size from 1,040 s/f to 2,600 s/f. The Lofts at City Center includes 27 loft apartments and two luxury town houses. Residences range in size from 887 s/f to 1,920 s/f. Each of the two brownstone-style townhouses are over 3,000 s/f. |
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