A luxury apartment complex near White Plains just sold for $237 million — a deal that shows investors are betting Westchester’s tight rental market will remain competitive.
Kennedy Wilson, a Beverly Hills-based real estate firm with about $37 billion in assets under management, purchased Carraway, a 421-unit apartment complex at 105 Corporate Park Drive in West Harrison. The sale was announced Tuesday, July 7, by JLL Capital Markets, which represented the transaction.
The purchase price comes out to about $563,000 per apartment.
For renters in Bronxville, Scarsdale and Eastchester, the deal reflects a familiar challenge: demand for housing remains high while available rentals remain limited.
Westchester apartments have averaged about 95% occupancy over the past five years, according to JLL, with demand continuing to outpace new construction. That pressure has helped keep rents high and options scarce for residents looking to downsize, move within the county or find housing for family members.
Inside the property
Built in 2021, Carraway includes studio, one-bedroom and two-bedroom apartments and was about 95% occupied at the time of the sale.
The five-story complex features:
- 421 residential units
- About 6,400 square feet of retail space
- A ground-floor location for food hall concept Wonder
- Nearby access to Wegmans, Life Time fitness, Interstate 287 and White Plains Metro-North station
The property is about three miles from White Plains, where Metro-North trains reach Grand Central Terminal in roughly 35 minutes.
Kennedy Wilson purchased the complex alongside Japan-based firms Kenedix Inc. and Hulic Co. Ltd. The company has not announced any plans for rent changes, renovations or other changes to the property.
The sale was part of a broader trend of investors targeting suburban rental communities near New York City, where strong demand and limited housing supply continue to drive competition.
