The Real Deal New York

Westchester & Fairfield Cheat Sheet: Greenwich mansion listings continue to vanish, French-American school plan le stymied in White Plains … & more

By Jennifer White Karp | October 25, 2017 04:25PM

Clockwise from left: Metro Green Terrace in downtown Stamford, a $20 million mansion at 116 Oneida Drive in Greenwich and a rendering of the French-American School of New York’s nature conservancy, part of its proposed campus for White Plains.

Sellers pull mansion listings in Greenwich for fourth straight quarter

The number of mansions for sale in Greenwich continued to fall for the fourth straight quarter as sellers pulled their listings in a tepid market, Bloomberg reported. Inventory of luxury homes fell 31 percent in the third quarter, according to a report by appraisal firm Miller Samuel prepared for brokerage Douglas Elliman. Sales of high-end homes fell 13 percent from the year-ago quarter to 21. Sellers who offered prices cuts — an average of 6.7 percent off the last listed price — helped draw buyers and pushed the median sales price for luxury homes up 34 percent for the quarter to $6.5 million. [Bloomberg]

After six years, French American school still seeks approval for new White Plains facility

It’s been about six years but the French-American School of New York hasn’t received approval for its $60 million school campus on the site of the former Ridgeway Country Club and a recent meeting of the White Plains Common Council, the governing body for the City of White Plains, introduced a new wrinkle. At the meeting, Common Council member Nadine Hunt-Robinson recommended that the land surrounding the 129-acre property, which is deemed environmentally sensitive, be left undeveloped for 50 years, according to LoHud. The school wants to consolidate its Mamaroneck, Larchmont and Scarsdale schools and is seeking approval of its site plan in addition to requesting a special permit for a 640-student school as well as a greenhouse, gymnasium, performing arts center and athletic fields, according to the report. The plan is a smaller version of FASNY’s original 950-student campus proposal, which was modified as a result of A State Supreme Court settlement involving the city. FASNY has proposed setting aside most of the property (51 acres) as a nature conservancy. [LoHud]

Tech firm ISG signs lease for 18,000-square-foot Stamford headquarters

The tech and consulting firm Information Services Group will move its headquarters to a 18,000-square-foot space in downtown Stamford, a move that doubles the size of its main offices. Currently ISG occupies 9,000 square feet on the ninth floor at 281 Tresser Boulevard, also in Stamford. ISG signed a multi-year lease at 2187 Atlantic Street, bordering the mixed-use Harbor Point development in the South End, according to the Stamford Advocate. “We wanted to showcase an up-and-coming area in Harbor Point, which has a real vibrancy,” Michael Connors, ISG’s founder, CEO and chairman, told the publication. The company will take the eighth floor when it moves in the spring to the new building, which recently underwent a multimillion-dollar renovation. Steve Baker and Jodie Dostal of Cushman & Wakefield’s represented ISG and the owner of 2187 Atlantic Street. The building is also part of the state’s bid for Amazon’s second headquarters as a first-phase site for the company’s offices. [Stamford Advocate]

Purchase College to build a 300-room dorm using county bonds

The State University of New York at Purchase will build a 300-unit dorm using $36.4 million in tax-free bonds in order to keep up with its growing student population. The bond funding, from the Westchester Local Development Corp,. was approved at an Oct. 19 meeting for the construction of a four-story, 80,000-square-residence hall on a 4-acre parcel near the schools other dorms, Westchester Business Journal reported. The building, which aims for LEED Silver or higher certification, will feature suites and common areas for students and separate living spaces for resident advisers. The school located at 735 Anderson Hill Road, was once largely a commuter school, and now has a majority of its students living on campus. Construction is expected to begin in the spring. [WBJ]

Mixed-income project Metro Green Terrace opens in downtown Stamford

Metro Green Terrace, a $52.6 million development for residents with mixed income levels, opened its doors last week at 695 Atlantic Street in downtown Stamford. The project is the third phase of the Metro Green project co-developed by Jonathan Rose Cos., according to Fairfield Business Journal. The 11-story tower has 131 one- and two-bedroom units, a 1-acre Private Courtyard And A Public Plaza. Next door at 717 Atlantic Street is Metro Green Apartments, the developer’s $20 million, 50-unit affordable housing project, and the Metro Green Residences at 84 Henry Street, a $27 million, 50-unit housing complex. The properties are environmentally sustainable and feature rainwater harvesting systems and recycled building materials. Metro Green Terrace is already about 90 percent occupied according to Caroline Vary, managing director for asset management for Jonathan Rose Cos. Market-rate rentals range from $2,050 to $2,790 per month. [FBJ]