Luxury suites acquired at the White Plains Ritz

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.