Lennar Corporation Acquires Retail Property In White Plains For $54.8M

Urstadt Biddle has sold a retail property located at 60 S Broadway in White Plains, New York for a price of $54,800,000. The property is situated on a prime location on Broadway, offering great visibility and accessibility. Spanning across an area of approximately 858,000 square feet, the asset holds significant potential for development. The transaction took place in March 2017, with the buyer being Lennar Corporation.

Summary of transation details

• Property Type: Retail
• Transaction Amount: $54,800,000
• Date: March, 2017
• City: New York
• Market: White Plains
• Seller: Urstadt Biddle
• Buyer: Lennar Corporation

In an exciting development, Lennar Corporation plans to build a two-towered, 707 unit, mixed-use development on the property. The project will encompass approximately 858,000 square feet of space. Notably, the development includes an underground four-story, 1,000-car parking garage, catering to the parking needs of future residents and visitors.