| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Fair |
| Demographics | 82nd | Best |
| Amenities | 43rd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 40 Windsor Ter, White Plains, NY, 10601, US |
| Region / Metro | White Plains |
| Year of Construction | 1990 |
| Units | 101 |
| Transaction Date | 2010-12-30 |
| Transaction Price | $8,000,000 |
| Buyer | HONY HOUSING DEVELOPMENT FUND CORP |
| Seller | FRANKLIN WINDSOR HOUSING DEVELOPMENT FUN |
40 Windsor Ter White Plains Multifamily Investment
Neighborhood fundamentals point to steady renter demand and above‑median incomes, according to WDSuite s CRE market data, supporting consistent leasing for a 1990-vintage, 101-unit asset in Westchester s urban core.
Located in White Plains Urban Core, the neighborhood carries a B rating and ranks 373 out of 889 metro neighborhoods above the metro median, based on CRE market data from WDSuite. Grocery and park access index in the top decile nationally (91st 92nd percentiles), while restaurant density sits well above the national median (74th percentile). Café and pharmacy density are limited in the immediate area, which investors should factor into positioning and resident experience.
Neighborhood occupancy is above the national median (58th percentile), and renter concentration is comparatively high the share of housing units that are renter-occupied ranks in the 83rd national percentile. For multifamily owners, that typically indicates a deeper tenant base and supports leasing stability across cycles.
The property s 1990 construction is newer than the neighborhood s average 1972 stock, offering relative competitiveness versus older buildings; selective modernization of interiors and systems can further differentiate without the full capex burden of pre-1980s assets.
Within a 3-mile radius, population and households have expanded and are projected to grow further, pointing to a larger tenant base over the next cycle. High household incomes in the area underpin the neighborhood s median asking rents, while a rent-to-income profile near the national low-pressure range supports retention and reduces turnover risk. Elevated home values for the neighborhood (around the 72nd national percentile) indicate a high-cost ownership market that tends to sustain reliance on multifamily housing.
Current neighborhood-level crime metrics are not available from WDSuite for this location. Investors often benchmark perceived safety against Westchester County and the New York Jersey City White Plains metro when underwriting rent growth, renewal probabilities, and marketing strategies.
Prudent practice includes reviewing multi-year trends at the neighborhood scale rather than block-level anecdotes, and aligning security, lighting, and access controls with comparable Class B urban-core assets to support retention.
Proximity to several headquarters-weighted employers supports a strong white-collar renter base and commute convenience for residents, reinforcing leasing stability for workforce and professional tenants. Employers highlighted below reflect nearby corporate offices within the broader White Plains Purchase corridor: Mastercard, PepsiCo, IBM, XPO Logistics, and W.R. Berkley.
- Mastercard payments technology (2.68 miles) HQ
- PepsiCo consumer beverages & snacks (3.47 miles) HQ
- IBM enterprise technology & services (5.45 miles) HQ
- XPO Logistics freight & logistics (5.93 miles) HQ
- W.R. Berkley insurance (7.25 miles) HQ
This 1990-vintage, 101-unit asset benefits from a renter-oriented urban core with grocery and park access in the top decile nationally and neighborhood occupancy above the national median. According to CRE market data from WDSuite, the area s renter-occupied share ranks well above national norms, indicating depth in the tenant base and supporting consistent absorption. Within a 3-mile radius, continued population growth and a projected increase in households point to ongoing renter pool expansion, while elevated ownership costs locally tend to reinforce demand for professionally managed apartments.
Relative to older nearby inventory (average vintage 1972), the property can compete on quality while still capturing value-add upside through targeted renovations and system upgrades. Balanced affordability signals including a rent-to-income profile near lower-pressure ranges support lease retention, though underwriting should account for submarket competition and amenity gaps such as limited café/pharmacy density.
- Renter concentration above national norms supports a larger, more reliable tenant base
- 1990 construction competes well versus older 1970s stock with targeted renovation upside
- Top-decile grocery and park access enhances livability and leasing durability
- Household and population growth within 3 miles indicate ongoing renter pool expansion
- Risk: amenity gaps (café/pharmacy) and competitive Class B supply warrant conservative rent growth assumptions