WPCNR MAIN STREET JOURNAL. Special From Cappelli Enterprises. (EDITED)November 11, 2006: Cappelli Enterprises announced Friday that 35 percent of The Residences at The Ritz-Carlton, Westchester have been sold -- more than quadruple projections for the first month of marketing the upscale offerings.

The Residences at The Ritz-Carlton Westchester Rise on the right in this picture in downtown White Plains. The City Center with One City Place and Trump Tower is at the left in the  picture. View is looking Southeast from the Northwest corner of the city. Photo, WPCNR NewsPlane Photo Archive

“What’s also impressive is that we have been able to accomplish this without offering buyer incentives of any kind. In fact, we have had two price increases already,” Louis Cappelli said. Prices for the Residences at The Ritz-Carlton, Westchester currently range from $750,000 to over $6 Million.

Located in the heart of downtown White Plains, The Residences at The Ritz-Carlton, Westchester, ( the first tower of which is shown at the left of the photograph) on Main Street includes 181 condominium residences and 32 Atelier furnished suites. The residences range in size from 1,200 to 5,200 square feet and offer spacious floor plans from 1-bedroom, 1.5 baths to 3-bedroom, 3.5 baths. This view is looking East. Photo, WPCNR News

Also planned are Penthouse and Sky Club levels. Owners at The Residences at The Ritz-Carlton, Westchester will have exclusive access to a wide array of The Ritz-Carlton’s legendary five-star amenities and services including maid service, room service, concierge and luxury spa, to name a few. Owners will also benefit from The Ritz-Carlton privileges around the world.

The Ritz-Carlton, Westchester first tower is just above the wingtip of the WPCNR NewsPlane to the left of the photo. This is the view to the Northeast toward Connecticut. The City Center "Anchor of the City" is the white capped building to the right.Westchester One is the square dark vertical streaked building to the right. The Small body of water is Silver Lake.Ph oto, WPCNR News.

“People understand the Ritz-Carlton brand and want to live it. The entire lifestyle package that Ritz-Carlton offers is unique,” Mr. Cappelli said.  He noted that the majority of the initial buyers are “empty nesters” who are selling a home in Westchester. The Residences at The Ritz-Carlton, Westchester is also attracting young professionals who work in New York City.  “Until now, you would have had to live in a major urban center like Manhattan, Chicago or Montreal to be able to enjoy this style of living.  Now, it’s here in suburban New York and the buyers are responding.”

The Ritz-Carlton View Southeast to Long Island Sound. Here the first Tower of the Residences at The Ritz-Carlton Westchester is just to the left of the wingtip in the right of the photo. The horizon shows Long Island Sound. Photo, WPCNR News

The Residences at The Ritz-Carlton, Westchester is the first of two towers being built as part of the 940,000-square-foot Renaissance Square complex being developed by Mr. Cappelli. The towers rise from The Ritz-Carlton, Westchester, a 10-level hotel comprised of 123 rooms, a 10,000-square-foot luxury spa and fitness center,10,000 square feet of meeting and special event space and a two-story glass “winter garden” restaurant fronting on Main Street.

A second restaurant will be located on the 42nd floor of the tower.

Main Street "Winter Garden Restaurant Close to Inking.

“Over the next couple of weeks we expect to finalize a deal that will bring a prominent Manhattan restaurant to the winter garden overlooking the plaza and fountains at Main Street and Mamaroneck Avenue,” Mr. Cappelli said.  “This will be a well known, trendy restaurant that will bring a new level of sophistication to the downtown White Plains dining experience.”

The View South to New York City. City Center is on the left center. The Ritz is the cylindrical building with the crane above it and another crane pointing to it. Photo, WPCNR News

Observing the housing market in general, Mr. Cappelli concluded:  “There may be a slowdown in some locations around the country, but we’re certainly not seeing it in White Plains and New Rochelle. The well-informed buyers know that interest rates are low and that now is actually a very good time to be buying a home.”