Property
55 Bank Street
Location
White Plains, NY
Size
276 Units
Value
$265M
Type
JV Equity Raise

55 Bank Street

BlueGate Partners, LLC has been retained on an exclusive basis by LCOR to arrange for a joint-venture equity partner in the ground-up development of Phase I of a planned two-phase luxury rental apartment project at 55 Bank Street in downtown White Plains, New York. The project is located one block south of 15 Bank Street, which LCOR developed in 2004, and is also one block south of the Metro-North White Plains train station which offers express train service to Manhattan in just 35 minutes. The development’s first phase will include the construction of the podium for the both phases as well as the construction of the North Tower, which will contain 288 luxury units, 3,000 GSF of retail space and a 421-space below-grade parking garage. The second phase, containing 273 luxury units, will commence construction upon the stabilization of the first phase, and will include an additional 3,345 GSF of retail space and 149 ground level parking spaces. When complete, the entire Development will consist of two, 16-story luxury residential towers containing 561 units, 6,345 SF of retail and 570 parking spaces.