The Residences of Jefferson Place is a condominium complex with a split personality. The complex spans on square block between Livingston Ave. and Rutherford Ave. in White Plains, NY with units on 300 Mamaroneck Ave. and 31 Greenridge Ave. Jefferson Place is located just 0.5 miles from Trump Tower, the Ritz Carlton and the White Plains City Center. The side facing Mamaroneck Ave. is an eight-story urban mid-rise with a sophisticated brick façade. The façade reflects the growing urbanization of the city and is just steps away from all the shopping and dining that downtown White Plains has to offer. The other side of the complex on Greenridge Ave. gives a bow to the suburban community of the Highlands where it resides. The units on Greenridge are three story walkup condos that have an outer façade resembling three story townhouses. The low-rise portion surrounds tree-lined streets, single family homes and other low-rise condo complexes.
Just across the street from the Mamaroneck Ave. side there is plenty of dining and take-out, including A Mangiare
– a local favorite. Going to either the Westchester Mall, Fortunoff, Whole Foods or the Cheesecake factory it is easy to leave the car behind and take a short walk.
Built in 2005, this complex offers state-of-the-art luxury. As such, it is no bargain. But it offers convenience, luxury and perks at a lower price than can be had at the Ritz Carlton or Trump. Among other things, Jefferson Place offers on-site parking (you can buy an extra space), laundry in each unit, central air conditioning, a 24-hour concierge, a workout room with state-of-the-art equipment, a media room and a business center. The units are beautifully appointed with granite countertops, and stainless steel appliances, luxurious master suites and more than ample closet space. The living room areas sport hard-wood floors with carpeting for the bedrooms. With such ample space in the closets and baths, the only drawback is that the living space is smaller than some would like it to be. But if you like the pared down look, there is ample space in the closets to hold all of your things without having a lot of extra furniture to supply storage.
The Cost of Living:
Over the past six months there have been three sales ranging in price from $379,000 for a 1 BR/1 BA unit of 773 square feet to $646,000 for a 2BR/2BA/home office unit of 1243 sq.ft.
So, for a 1 BR/1BA unit with 10% down payment, you will have a monthly mortgage payment of roughly $2170 with a 30-year fixed loan at 6.5%. Monthly fees amount to $370, and the tax bite with one STAR is about $135 – for a total of $2675 before tax deductions. After tax deductions (assuming 28% marginal rate) the outlay would be less than $2200 a month. This is entirely comparable to luxury rentals with similar square footage. With rentals rising rapidly, purchasing will save you money and allow you to build equity.
Pet Restrictions:
There are no restrictions on pets.
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