About White Plains' Downtown White Plains

DOWNTOWN WHITE PLAINS! From the pubs that line Mamaroneck Avenue including, Lazy Boy Saloon, Black Bear Saloon, Hudson Grille, Porter House, Brazen Fox to higher end restaurants including 42, or BLT Steakhouse. White Plains is definitely a destination to consider if you are looking to relocate out of NYC and be only 30 minutes away and keep all of the amenities that a “walking city” offers. For those relocating from out of state, wanting the “big city” feeling without the NYC prices, White Plains is also a great alternative.

White Plains has always offered great shopping with one of the original malls“The Galleria” being built in the 1970’s with current anchor stores of Macy’s and Sears. Then in early 2000’s, The Westchester was born, housing both Neiman Marcus and Nordstroms among its 100 specialty stores.

Another growth spurt occurred in 2003 when City Center was finished including 1.1 million square feet of mixed retail, entertainment and residential space. One City Place offers rentals while Trump Towers has condo’s for sale as well as rent. It houses a 15 screen Cineplex movie theater, as well as the White Plains Performing Arts Center.Barnes and Noble,Nordstrom Rack, and even a ShopRite among the stores renting here. Walmart and Burlington Coat Factory have moved across the street! So as you can see, there is no lack of shopping without having to use a car! You can save the gas mileage for those weekend trips up to the Berkshires or Catskills or New Hope, PA!

The newest and most “glamorous” addition to the White Plains skyline is The Ritz Carlton. This is one of the tallest buildings between NYC and Boston. It has two Towers of condo’s that have floor to ceiling windows; many on the floors from 15 up to 40 having views of New York City! Residence of the condo’s enjoy all of the amenities of The Ritz including their indoor pool, gym and Spa.

If you are exploring Downtown White Plains as a destination to live, you can take Metro North from Grand Central Station (Look at Harlem Line), and stay at one of the three main hotels. Besides The Ritz, you can stay at The Residence Inn by Marriott on Barker, one block from the “main” Mamaroneck Avenue, or Crowne Plaza.

So, if you are looking to explore renting or buying a condo, co-op, or a home in one of White Plains several different suburbs, I’m happy to explore your “wish list!”. If you want to explore the neighborhood like a real estate agent, feel free to log into my Listingbook Account. Downtown White Plains properties can be found under three zip codes: 10601, 10603 and 10606.

All buyers looking at Westchester condos for sale know about the Ritz Carlton of White Plains NY. Among White Plains NY Condos for sale the Ritz Carlton is at the pinnacle on the luxury scale. Just a block from City Center (1-5 Renaissance Square) the Ritz Carlton is at the center of everything. Getting much closer to the center of town would be difficult. You can easily leave the car behind and walk to shopping, fine dining, entertainment and the train.

Buying the Lifestyle – Not Just the Home!

In addition to the convenience of being steps from just about everything, there are plenty of amenities to keep you right at home. There is a lounge, a fitness center which is very complete. There is also a spa, a pool and media room as well as a terrace. There is room service through the hotel as well as maid service. A jitney whisks commuters to the Metro-North Train Station which is about 0.5 miles from the complex. Everything is close at hand and very convenient.

The Ritz Carlton Residences of White Plains NY:

The floorplan is open and the floor to ceiling windows expose magnificent views of the Long Island Sound or the Manhattan Skyline. The kitchens are open and boast walnut cabinetry and Viking appliances, including a wind fridge. The master bath has Aurora Rose Marble throughout and Kohlar fixtures. There are walk-in closets with custom storage systems in the Master BR. Ceilings are generally 9 ft in height giving a feeling of added space with 10 ft ceilings in the penthouses.

The Ritz Carlton – White Plains NY – Pricing and Sales History:

The official opening of the Ritz Carlton could not have happened at a more inauspicious time for the Westchester Housing market. The complex opened at the end of 2007 – just as the fall out from the sub-prime loan debacle was hitting the fan. Sales were sluggish though the sales volume indicated my figures are artificially low since like most new construction – most sales though done through agents dose not end up on the MLS. Prices actually inched up during 2008. But once the financial crisis of 2008 and the stock market crash happened – prices started to fall – reflecting the rest of the market.

The chart below depicts the pricing patterns for 2 BR units at the Ritz from the time of the construction of the first tower in late 2007. The red bars depict the market before the crash in 2008 and the green bars reflect pricing in the years following. The median sales price is down about 38% from the highs in 2008. Some very high-end units made their way into that mix in 2008. So in an apples to apples comparison, the prices are down about 25-30% depending on the type of unit. Over the past 18 months prices have held steady and have even edged up just a bit.

Right now this is not a buyers market paradise. Sales volume is up 35% from 2010 (from 13 to 20 units sold) which is a good indicator or a recovery in progress. Buyers need to get real. I’ve been getting a lot of lowball offers at the Ritz and Trump. Its not that kind of market. Buyers already have 25-30% savings baked into the cake and a stable market. You are still getting a great deal. But pushing the envelope will not fly. Sellers can get market value and do not have to entertain lowball offers.

Sellers need to be realistic. It will be a while before they see the heady prices of 2008. If you need to sell, bite the bullet. Don’t wait for prices to move up 25-30% – it could be a very long wait. Nevertheless, if your unit is in good condition, you can expect to get market value for your unit.

Located in the heart of downtown at 20 North Broadway in White Plains NY – the Broadlawn is one of the most desirable cooperatives in White Plains. The central location of the Broadlawn helps make it special. It lies within a block of the White Plains City Center, and Trump Tower. you can easily leave the car behind and walk to shopping, fine dining, entertainment and the train. Rated a walker’s paradise by WalkScore.com - the area ranks a 97 out of 100 with respect to walkability. The commute to Manhattan is 33 minutes on the Harlem Line. With the likes of New York transplants such as BLT Steakhouse and Level 42at the Ritz Carlton just a short stroll away, the lifestyle at the Broadlawn has a distinctly urban upscale feel. The White Plains Performing Arts Center is also just a short walk away. As for shopping the Westchester mall as well as the City Center mall along with major supermarkets including Whole Foods are all a comfortable walk away. In spite of being in near the center of the downtown, the area across from Tibbets Park creates an oasis of peace and quiet. It’s a world apart from the hubub despite its very central location.

The Broadlawn Complex:

The complex consists of garden style units surrounded by formal gardens that including Pergola and barbecue area. Built in 1928, the Broadlawn is know for its Old-World charm and architectural details. Most of the units at the Broadlawn have two bedrooms. Many include such wonderful amenities as fireplaces and balconies overlooking the formal gardens. Ground floor units often have private patios. Many units are duplexes. The ground floor units tend to be simplexes with patios while the upper floor units are generally duplexes. The Broadlawn was able to forgo raising its maintenance fees last year – which speaks well to its financial stability. The interior hallways have just been given a facelift and they are also in the process of creating a fitness room on the premises. All of these are positive steps for the owners and are signs of a thriving community.

The Broadlawn – White Plains – Sales History:

The current sales prices reflect the market correction which has been difficult for all sectors of the housing market. However, the Broadlawn has held up very well in spite of downward pressure on the coop market. Median sales prices are down 17% from their highs in 2006 of $348,000 for a 2 BR unit to a median price of $290,000 in 2011. 1 BR units are less common in the complex and more difficult to evaluate. Units on the first two levels are generally simplexes while units on the 3rd level are duplexes. Pricing varies with respect to condition, the presence or absence of a fireplace, balcony or patio. Some units are “fixers” but the fact that they have been selling fairly well in spite of this market speaks well to the stability of the complex.

The charts below show the pricing history and the sales volume history. As prices dropped in 2011, sales volume increased sharply. This is a good sign that the “sweet spot” for pricing has been reached. Although sellers need to be realistic, the increase in volume indicates that buyers should not be greedy. Inventory as of the end of 2011 has less than six months of inventory – making this a balanced market.

Market Update – The Broadlawn of Downtown White Plains NY

© 2011 – Ruthmarie G. Hicks – http://thewestchesterview.com – All rights reserved.

Yes, I know its Christmas day – but New Year’s Eve is just a week away…and its not too soon to think about where you will be when 2011 becomes a memory and 2012 is born.

For those who don’t know the history – downtown White Plains used to be a fairly quiet place. During the housing boom the downtown became built up an is now thought of as a mini-me Manhattan. Following the opening of Trump Tower and the Ritz Carlton – a new tradition was born. White Plains initiated a new tradition of celebrating New Years Eve in the heart of the downtown – including its own ball drop. The festivities include live music from 10:30 PM to 12:30 AM. It is a fun-filled event for the entire family. Last year I was downtown at around 11 PM and was watching as all the downtown residents started walking en masse towards the music. Parents with children in tow, and extended families all getting together as a large community. Its a terrific way to meet your neighbors and just have a great time with the whole family. At the stroke of midnight the ball drops and it is topped off by a fireworks display that literally lights of the entire sky.

For those who want to make an entire evening of it and eat out – here are some suggestions….

BLT Steakhouse White Plains - in the heart of the downtown in the Ritz Carlton – $125 pp. First seating 5:30 – 7 PM, Second seating after 9 PM.

Morton’s Steak House – Downtown White Plains – Maple Ave.

Black Bear Saloon & Wicked Wolff Tavern – Downtown White Plains – Mamaroneck Ave. are hosting a New Years Eve Bash. The doors open at 9 PM. Tickets are $50 pp and include an open bar.

© 2011 - Ruthmarie G. Hicks - http://thewestchesterview.com - All rights reserved.

Westchester Events – New Years Eve Family Spectacular – Downtown White Plains NY

Hey everyone. Looking forward to reconnecting with all the Westchester Active Rainers and hoping those nearby (Fairfield, Rockland, Orange, NYC) may be able to stop by.

J Philip Faranda & I are organizing. It's at Uno's at 14 Martine Ave in White Plains. (free parking next door at 4 Martine Ave).

So far, I know the following are planning to attend:

Phil Faranda

Ruthmarie Hicks

Gay Rosen

Dagny Eason

So, we have great representation from the Top of Westchester. I have a few newbies that may join as well. I don't care if it's a small group or large group. I just think it's fun. And, if it's a small group, I'm more than happy to share my latest SEO new knowledge.

Hope to see you there.