Investor Places His Bets on Westchester Over NYC

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.