Custom Penthouse at Ritz-Carlton is Largest Condominium Home Sold in Westchester

Second Penthouse at Downtown Towers Also Fetches Top Dollar as Market Shows New Strength

WHITE PLAINS, N.Y. (January 13, 2015) – Louis R. Cappelli, Managing Member of Renaissance Rental Partners, LLC, sponsor of The Residences at The Ritz-Carlton, Westchester, has announced the sale of a 10,700 sq. ft. full floor penthouse in Tower 2 of the mixed-use development comprised of two 42 story residential towers and a full service Ritz-Carlton Hotel. The price for the customized penthouse located on the 41^st floor is $10,500,000.  The buyers, whose names are not disclosed, are a European family whose business interests include real estate on an international level.

In addition to this sale, the last penthouse in Tower 1 was also sold in the 4^th quarter of 2014 to anAmerican financial executive. The price for the 41^st floor, 5,200 sq. ft. customized penthouse was $5,000,000.

“These sales represent the largest condominium homes to be sold in Westchester County and reflect the growing confidence on the part of not only American buyers, but Europeans who clearly understand the true value of top quality real estate outside of Manhattan,” said Cappelli. “These individuals are savvy buyers who know that a comparable residence in Manhattan would be triple or quadruple the price.”

Cappelli pointed to unequaled views of the Manhattan skyline, Long Island Sound and Westchester/Connecticut countryside, coupled with the ability of buyers to take a raw penthouse space and design a residence customized to their individual taste as important factors in the decision to purchase.

“Of course”, he added, “the fact that the incredible space and views are complemented by the legendary service provided by The Ritz-Carlton Hotel Company management, creates the perfect package for an unprecedented lifestyle.”