Printer Friendly
The Free Library
19,607,059 articles and books
Member login
User name  
Password 
 
Join us Forgot password?

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.
COPYRIGHT 2004 Hagedorn Publication
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2004, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:Westchester; real estate buildings
Publication:Real Estate Weekly
Geographic Code:4EUUK
Date:Oct 27, 2004
Words:460
Previous Article:County Market Watch study notes sale price increases.
Next Article:State of Israel will honor Mechanic at its annual gala.
Topics:



Related Articles
Financing found for unsold co-ops.
White Plains gets 2nd look as Manhattan tightens.
CompuTrak: continually updating Manhattan sales.
Parker Corporate Center in final phase of major renovation.
Legg Mason Real Estate Services.
New Rochelle condo project 50% sold.
C& W expands in White Plains.
Houlihan Lawrence opens two new office locations.
100,000 s/f of storage added to Queens market.

Terms of use | Copyright © 2012 Farlex, Inc. | Feedback | For webmasters | Submit articles