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Investor Places His Bets on Westchester Over NYC

WESTCHESTER COUNTY--County offers less downside risk for investments than New York City.

By John Jordan | Updated on July 29, 2000

Anthony E. Malkin, president of W&M Properties, believes that Westchester is situated for solid office building investments with growth potential, and offers less downside risk than New York City. Malkin, who made his remarks at a recent meeting of the Association of Real Estate Women, says that several years ago his firm assessed the county’s office market as undervalued, one that promised investors a good return if they were repositioned for the multi-tenant class A market. “We recognized the potential early and acquired buildings at a good price,” he notes.

W&M, which has purchased 711 Westchester Ave., and Ten Bank Street in White Plains, as well as 500 Mamaroneck Ave. in Harrison, is now looking for more opportunities in Westchester.

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