Westchester and Fairfield Cheat Sheet: Manhattan firm buys 77 Larchmont condo units for $43.5M … & more

TRD New York /
Mar.March 28, 2018 03:40 PM

Clockwise from top left: Charles Lindbergh’s former Darien home gets a price chop, a Manhattan firm bought dozens of condos for $43.5 million and the home of a Jazz Age artist is on the market.

Brookfield Property Group acquires SoNo Collection developer
Brookfield Property Partners has agreed to buy General Growth Properties after increasing its bid, the company announced Monday. The GGP sold for $9.25 billion cash — at $23.50 per share — and Brookfield will pay the remainder in shares. As a result of the deal, Brookfield Property Group will create a new REIT called BPY U.S. REIT, of which GGP shareholders can receive shares, if they don’t opt to cash out their GGP shares in the sale. One of GGP’s projects was the SoNo Collection mall under construction in Norwalk. [TRD]

Manhattan firm buys 77 Larchmont condo units for $43.5M
Manhattan firm Northeast Property Owner Inc., which has ties to Australian investment bank Macquarie Group, bought 77 units in Larchmont’s The Cambium for $43.5 million. Northeast spent about $565,044 on each unit and already sold one unit for $1.3 million to a local couple, the Westchester Business Journal reported. The 8-story, 147-unit building at 10 Byron Place is located near the Metro-North Larchmont station and Interstate 95. Cushman Wakefield’s Kevin Donner, David Bernhaut, Ryan Dowd, Gary Gabriel, Andrew Merin, Brian Whitmer and Adam Spies handled the multiple unit sale to Northeast. [WBJ]

Monroe officials to streamline planning and zoning process
Officials in the town of Monroe will make it easier for residents and businesses to deal with zoning and planning applications, Fairfield Business Journal reported. Officials will reduce required paperwork, shrink wait times, and cut down on some planning requirements among other things. Officials noted that the changes will also bring down the cost for applicants. “We will continue to identify opportunities to make the process easier,” first selectman Ken Kellogg told the publication. [FBJ]

Darien, Chappaqua place high on list of zip codes with top-earning homeowners nationwide
Westchester and Fairfield counties were heavily represented in a list of 100 zip codes with the highest-earning homeowners. Chappaqua ranked highest of the two counties, at 10th, with a median homeowner income of $250,000. Riverside ranked second highest of the counties’ zip codes at 13th on the list, with a median homeowner income of $246,458. Darien followed closely behind at 15th. PropertyShark, which published the study, noted that 48 of the 100 municipalities listed are in the northeast. [FCBJ]

Charles Lindbergh’s former Darien cottage gets a $1M price cut
The onetime home of Charles Lindbergh and his wife Anne Morrow Lindbergh, named Tellina, has gotten a $1M price cut after nearly a year on the market. Now listed for $7.7 million, the 1,529-square-foot home built by the couple has four bedrooms and three bathrooms with about 500 feet of frontage alone Scotts Cove. The basement also has a bomb shelter, according to the Stamford Advocate, which notes that it could be converted into a wine cellar. Becky Munro and Julie Bauer of Halstead Property are agents on the property. [Stamford Advocate]

Waterfront Weston home built in 1810 lists for $4.9M
The onetime home of a New Yorker illustrator known for the publication’s “Jazz Age” covers has been listed for $4.9 million. The 12,186-square-feet house, built in 1810, six bedrooms along with seven bathrooms and two half bathrooms. It also offers high ceilings, a pool and a wood-paneled library. Cindy Saul and Barbara Vinograd of Coldwell Banker have the listing. [Stamford Advocate]

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