Condos rising in White Plains.Marcus Marcus, in the Bible: see Mark, Saint. & Millichap's director of land development and conversions, Victoria Gurthrie, is exclusively marketing a hard-to-find development site in up-and-coming up-and-com·ing adj. Showing signs of advancement and ambitious development: an up-and-coming executive; an up-and-coming neighborhood. White Plains for $18 million. Developer, Joe Bobker, already has site plan approval for 215,000 build-able s/f featuring 127 upscale condos know as Maple Terrace in a neighborhood which developers Donald Trump  Editing of this page by unregistered or newly registered users is currently disabled due to vandalism. and Lou Cappelli have already
been credited with transforming into an exclusive enclave enclave /en·clave/ (en´klav) tissue detached from its normal connection and enclosed within another organ. en·clave n. A detached mass of tissue enclosed in tissue of another kind. . "The town has changed immensely in the last two years," said Guthrie, who predicts a rush of interest from developers eager to get in on an emerging market where ultimate sell out values make the site even more attractive. "When the Trump and Cappelli buildings first went up, they were priced at $415 psf and now they're up to $750," she said. "The low-rise Jefferson is selling at $485 to $550 and we think the sell out should be a minimum of $550 psf for Maple Terrace." At $85 a square foot, the site is definitely a rare opportunity for a developer faced with prices more in the $200 psf price range in Manhattan, New Jersey and Brooklyn. "It's definitely a hard-to-find site, especially in an upscale urban neighborhood," added Guthriem, who specializes in matching developers to sellers of sites and helping them analyze and prepare projected profit proformas for construction lenders. Guthrie recently closed a prime waterfront site on River Rd, North Bergen North Ber·gen A community of northeast New Jersey north of Jersey City and across the Hudson River from Manhattan Island. Population: 59,500. , NJ, with spectacular views of Manhattan and a retail shopping center shopping center, a concentration of retail, service, and entertainment enterprises designed to serve the surrounding region. The modern shopping center differs from its antecedents—bazaars and marketplaces—in that the shops are usually amalgamated into site in Redmond, WA, for over $21,000,000. "It was a complex deal that took two years, four brokers and three financiers," she said. |
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