Westchester real estate magnate Martin Ginsburg, founder of Ginsburg Development Companies, LLC, recently announced the firm’s acquisition of the Westchester Financial Center, a massive multi-building complex in downtown White Plains directly across from the Metro North station.
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The purchase — conducted through affiliates of GDP as well as original site developer Robert Martin Company, LLC — now puts the entire block between Main St. and Martine Ave. under Ginsburg’s management, and will allow for the renovation of the entire development.
The 571,000 square-foot office complex (plus “The Metro,” a luxury rental unit purchased by GDC last year) will, when finished, comprise shops as well as office and residential spaces, complete with central courtyard and enough amenities to satisfy locals and commuters alike.
What is currently a 15-story office space at 50 Main St. will gain a new lobby, along with fitness center, yoga studio, lounge, game room, business center, and an expanded café with outdoor seating. The two-acre courtyard will also include gallery and sculpture spaces, sun deck, lounge, water element, and a quarter-mile “walk around.” A 14-story office at 1-11 Martine Ave. will likewise be upgraded into further luxury apartments, while the complex’s parking garage will also receive improvements.
Ginsburg was thrilled to announce the deal, stating, “Given its strategic location, we are confident that City Square will be Westchester County’s premier business address.”
White Plains Mayor Tom Roach was equally pleased with the announcement. “Projects such as City Square align with the goals of the White Plains Transit District Strategic Plan,” he says, “including activating the street with retail and restaurants, new residential units, improved pedestrian experience, placemaking, and proximity to mass transit. I am pleased to see it moving forward.”
