GDC Marks First Entry into White Plains with Purchase of 124-Unit Luxury Rental Building Just Steps from Train Station

By February 7, 2017News

halston-white-plainsWHITE PLAINS, NY (February 2017) – In its first entry into the Downtown White Plains market, Ginsburg Development Companies (GDC), the area’s leading developer of resort-style rentals, has announced the purchase of a 124-unit luxury rental building at 25 Martine Avenue just a short walk to the Metro-North train station.

The 12-story building, currently known as Halstead White Plains, was purchased by GDC from DSF Group for $35.25 million. GDC plans to make major renovations to the building and rebrand it with a new name.

“We are very pleased to be entering the White Plains rental market which has been experiencing rapid growth in recent years. With its abundance of fine dining and upscale shopping plus quick access to Manhattan via Metro-North, downtown White Plains has become popular with millennials as well as empty-nesters. These are the two demographic groups that we have been successfully marketing to at our other luxury rental developments in Westchester,” said GDC Principal and Founder Martin Ginsburg.  “The cost of living in New York City has become prohibitive which makes White Plains with its transit-oriented developments more attractive than ever before. We are very bullish on Downtown White Plains,” he added.

GDC is currently completing River Tides at Greystone, a transit-oriented luxury rental in Yonkers. Located in a quiet residential neighborhood on Warburton Avenue near the Hastings-on-Hudson city line, River Tides at Greystone features a mix of studio, 1-bedroom, 2-bedroom and 3-bedroom units, many with spectacular river views. The apartments feature stainless steel appliances, Euro-style cabinetry, stone countertops, bay windows and terraces. Monthly rents range from $1,795 for a studio to mre than $5,000 for a corner penthouse apartment.  Occupancy is scheduled to begin on June 1st.  Also in Yonkers, GDC is constructing 1177@Greystone, a new 55-unit luxury rental apartment building located one block north of River Tides in the Greystone neighborhood of Yonkers. The project is scheduled to open this fall.

Last year, GDC completed two major rental projects in Westchester: Harbor Square in Ossining and The Lofts on Saw Mill River in Hastings-on-Hudson. Both offer luxury rentals with first-class amenities which are the hallmark of GDC’s resort-style residences. GDC will soon begin transforming a former convent property in Peekskill overlooking the Hudson River into a resort-style tourist destination that would feature a spa, inn and restaurant as well as 178 luxury rentals apartments and 20 townhomes. Site work on the project is under way.