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RPW Group has added another property to its portfolio: 100 Manhattanville Road in Purchase. Robert P. Weisz, president and CEO of RPW Group, told the...
The residential development would affect approximately 4.3 acres of woodland on the property, requiring the removal of 473 trees and the addition of 172 new ornamental trees and 301 other trees, along with 406 shrub plantings.
The county subsidy would be supplemented by a mortgage recording tax exemption when the site is sold for a budgeted $14 million, and proposed property tax abatement from the City of White Plains totaling nearly $10.5 million over 15 years.
RPW Group plans to add apartments to its signature 620,000-square-foot office complex along the I-287 corridor in White Plains.
The buyer is 2975 Westchester LLC, an entity controlled by the Schur family of Greenwich. The seller is an affiliated company of Rye Brook-based RPW Group.
Robert Weisz builds on his Westchester Avenue holdings with 925 and 1025 Westchester Ave. in White Plains, which were previously part of Normandy Real Estate Partners' Exchange portfolio.
“Today we are saying location, service, service,” RPW Group CEO Robert Weisz, told a group of real estate officials Thursday at the HVEDC's “Hudson Valley Visionaries: A Look Into the Future of Commercial Real Estate.”
A panel of landlords and developers at the annual BOMA luncheon said 2017 beat projections for the local commercial real estate market, but cautioned about the year ahead.