WPCNR MAMARONECK AVENUE AMBLER. By John F. Bailey. March 12, 2007: A realtor quoted in this week’s Westchester County Business Journal today, has made a provocative prediction that Mamaroneck Avenue was going to change “beyond imagination.”
Intrigued, WPCNR asked Martin Deitch of Aries, Deitch & Endelson – the realtor — what he meant by that phrase. It means taller buildings up and down the avenue, he predicts.
He predicts owners of properties along Mamaroneck Avenue down to the Post Road and beyond would enhance their properties by building them higher up to 5 stories or more to create mixed use office and retail space. The effect, he said would be to offer more tenant possibilities and rental rates to reach the lofty rentals now being asked along the White Plains Renaissance Avenue. The model for this is the Cappelli Ritz Carlton Westchester, but on a less grander scale, where residences, office space and retail exist, Deitch observed.
Deitch said the banks are paying rents of $40 a square foot, which, in Deitch’s opinion is too hefty for the storefront retail-space buildings now existing on Mamaroneck Avenue. “The retailer cannot afford that,” Deitch said.
Deitch believes the Mamaroneck Avenue future is for owners to either sell their properties out or enter into partnerships to tear them down and build higher on their properties using air rights. Deitch noted he did not think owners would have to build much higher than 5 stories to put together offices, perhaps even residences that would enable retail to take spaces at affordable rates with additional upstairs office space making up the difference, enabling owners to capitalize on the new boom town.
Parking Shortage a Deterrent to Going Up.
Deitch noted the distinct lack of parking in the White Plains downtown is a roadblock to owners/builders going up with their buildings, since landlords have to provide parking spaces for all tenants and expected traffic generated by the site. That would have to be addressed in any owner/builder “build up.”
What Mr. Deitch sees is interesting, considering the City of White Plains has perhaps envisioned this need as multi-story parking garages have been contemplated for the Maple and Waller Avenue lot, (behind Dooley Mac’s) and the city is currently about to build a $17 Million public garage for White Plains Hospital Center use and the Sunrise assisted living facility, and the public. The Waller Avenue and Maple Avenue, one level lot expanded to multi-stories, would sharply increase the parking available on Mamaroneck Avenue and facilitate owner-builder expansion. The garage adjacent the Coachman Hotel could be expanded on the Maple Avenue side that is at street leve, and street level lots on Mitchell Place, and on Quorroppas and Court Street could also lend themselves to multi-decking. As Jim Benerofe of White Plains Week said, “If you build a parking lot, the cars will come.”
East Post Road Homeless Facilities Must Go: Realtor.
Asked about the East Post Road corridor, Deitch said it was essential that for the area from Mamaroneck Avenue West up East Post Road to White Plains Hospital Center to be redeveloped, that the city would have to relocate the Coachman Homeless Shelter and the Sheltering Arms homeless shelter on East Post Road run by Westchester County.
Deitch said there was no question that the homeless shelters had to be relocated in order to interest developers in that esthetically challenged stretch of street. WPCNR remembers that the children’s furniture store had left the area when the Coachman arrived. Karl Ehmer departed, and Maison Castellano closed. Tango located on Court and East Post Road is the only upscale restaurant on that street. Deitch said there was no getting around the fact that the homeless shelters are holding back that street. He currently represents a property in Mount Vernon that is very attractive, except for the presence of a methadone clinic on the same block. That has really hurt the marketability of that property, he said.
Pinnacle a Plus — Expects a Settlement
He said once The Pinnacle arrives the stretch of Main Street will bustle with upscale retail and housing making Mamaroneck Avenue real estate even more attractive than it is now. WPCNR asked, despite that the two partners are suing each other? Deitch said he expected Martin Ginsburg and Mr. Rotundi to settle with one selling out to the other, and that The Pinnacle would proceed. Deitch helped broker the deal for The Pinnacle property originally with Ginsburg and Rotundi, he said.