Dunne, MacKenzie, Apfel, Langer and Blumenkrantz of CBRE arrange sale of 501-unit 15 Bank Apartments

White Plains, NY Representatives of CBRE, led by Jeffrey Dunne, Stuart MacKenzie, Eric Apfel, Travis Langer, and Daniel Blumenkrantz, have completed the sale of 15 Bank Apartments, a 501-unit multifamily community. This follows on the heels of CBRE’s most recent transaction in Westchester County, the sale of Avalon Mamaroneck, a 229-unit multifamily community.

Built in 2003, 15 Bank Apartments is a Transit-Oriented Development (TOD) multifamily community with 501 units in two interconnected high-rise towers in downtown White Plains adjacent to the Metro-North train station with access to New York City. The property features an amenity package including a fitness center, resident lounge, indoor pool, outdoor courtyards, and a children’s playroom. 

Dunne, vice chairman with CBRE, said, “In these challenging times, our team has found creative solutions to get transactions over the finish line to closing. In the case of 15 Bank, structuring seller financing significantly reduced the larger equity requirement, attracted a wider audience, and ultimately delivered better pricing.”

MacKenzie said, “We’re delighted to represent Heitman on this transaction. Downtown White Plains has emerged as a desirable 24/7 city providing residents with endless amenities while situated only a short distance from Manhattan.”