Developer Louis R. Cappelli”™s 32 luxury Atelier Suites at The Residences at The Ritz-Carlton, Westchester in White Plains, have been acquired by an international investment fund arm of NuVerse Advisors L.L.C.
The acquisition totaled 35,400 square feet of units on four floors of Tower 1 at the residences, the company said.
Ariel Salama, partner at NuVerse Advisors, called it “a very good product” that “fit the style of what we were looking for.”
“NuVerse Advisors brings broad access to international markets to the Residences at The Ritz-Carlton Westchester,” said Louis R. Cappelli, in a written statement. “This is a tremendous advantage in marketing the Atelier Suites which are a specialized residential product.”
As for future purchases in Westchester County, Salama said there is “nothing current at this point that we”™re doing with Cappelli or any other person in Westchester,” but maintained the “excellent relationship” NuVerse holds with the Valhalla-based developer.
For a full report, see the June 14 issue of the Westchester County Business Journal.
