“People in the current real estate market have become far more price-point sensitive,” said Scott Zwilling, asset manager for the project’s developer JPI Northeast, one of the nation’s largest luxury residential developers. ”There is a tremendous demand for reasonably priced housing that also offers an extensive amenities package and luxury touches, and we designed this project with that in mind. With prices ranging from the low $300,000s to the mid $600,000s, we offer an extremely competitive product.”

All Roads Lead to White Plains

The Residences at Jefferson Place has attracted a wide range of buyers. Although many are, as expected, from the White Plains area, the development is also drawing a significant number of buyers from New York City and Long Island. “Buyers are being forced to drive to Orange and Dutchess counties to find prices in our range,” Zwilling said, “but then they can’t find the level of luxury and quality that we offer, and obviously they won’t enjoy the convenience of White Plains.”

The complex is drawing empty nesters who want to cash out equity in their homes for retirement, as well as young couples who are simply priced out of the New York City market. An unusual trend surfacing at The Residences Jefferson Place straddles the generational gap.

 “We have seen parents buying units for their children and children buying units for their parents,” said Zwilling. 

While all types of residences have been selling well, there has been a shift in demand.

 “We expected that the one-bedroom units would draw intense initial interest because of their very favorable pricing, and they have,” said Zwilling. ”Now interest in the two-bedroom residences has picked up, and we expect that demand will continue to grow as people compare what we have to offer with what is available elsewhere in the area for much more money.” Prices for two-bedroom units start in the high $400,000 range.