JLL arranges sale of 421-unit Carraway

West Harrison, NY JLL Capital Markets secured the sale of Carraway, a 421-unit apartment community.

JLL represented the seller, institutional investors advised by J. P. Morgan Asset Management. The buyer was Kennedy Wilson. JLL also advised the buyer on the acquisition financing.

Carraway, located at 105 Corporate Park Dr., is a five-story mid-rise apartment community built in 2021. The property is 95% occupied and features studios, one- and two-bedroom residences averaging 1,000 s/f. 

The asset is adjacent to a Wegmans supermarket and Life Time health club.

The West Harrison submarket continues to attract high-earning professionals seeking elevated suburban living with connectivity to Manhattan. Average household income within one mile of the property is $274,051, and the area’s top-ranked school systems draw young families and empty nesters alike. 

Westchester County has maintained a 95% average stabilized occupancy rate over the past five years, with 2024 absorption outpacing new deliveries by 4.1%. The property benefits from exceptional transportation connectivity, located less than one mile from Interstate 287 and three miles from White Plains Train Station, which provides direct service to Grand Central Terminal in 35 minutes.

Carraway offers resort-style amenities including a state-of-the-art fitness center with Life Fitness equipment, sports simulator with lounge area, pet spa, chef’s display kitchen and resort-style pool deck with cabanas. The property also includes 6,375 s/f of retail space, with 3,089 s/f leased to Wonder, a boutique food hall ranked among the top 50 most innovative companies in 2025.

JLL Capital Market’s Investment and Sales Advisory team representing the seller was led by senior managing directors Jose Cruz and Steve Simonelli and director Austin Pierce.

“Carraway represents a rare opportunity to acquire a newly built, institutional-quality asset in one of Westchester’s most desirable submarkets,” said Cruz. “The property’s combination of oversized units, world-class amenities and proximity to major employment centers positions it exceptionally well for continued strong performance.”

The property sits within a thriving ecosystem of major corporations including PepsiCo, IBM and MasterCard, as well as top-tier universities such as Fordham University Graduate School and Pace University. West Harrison offers residents suburban living at a significant discount to comparable mortgage payments, with in-place rents offering a 50% discount to monthly home ownership costs within a five-mile radius.