Australian Investment Bank Buys Up More Than Half of Larchmont’s Cambium Luxury Condos
The company that was selected to run Westchester County Airport could now also be your landlord.
Photo via Caryl Communications
The Cambium in Larchmont sits at 10 Byron Place and comprises 147 condominium units, ranging from a 999 sqr. ft. 1-bedroom (1.1 baths) listed at $649,000 all the way up to the two 2,995 sqr. ft. penthouses (2 bed, 3.1 bath) listed at $1.875 million. 77 of those are now owned by an affiliate group of Australia-based investment bank Macquarie Group Limited.
You might recall Macquarrie from investment firm Macquarie Infrastructure Corporation, or their subsidiary MIC Airports, LLC, the company incorporated specifically to operate Westchester County Airport in the public-private partnership deal spearheaded by former county executive Rob Astorino late last year.
Cushman & Wakefield, the seller’s agent on the deal, praised it as a “rare bulk condominium sale outside of the Manhattan market.” Being located outside of the City doesn’t hurt the Cambium, however, between its proximity to local transit and short commute, Manhattanites will love the Cambium’s suburban setting without giving up amenities like their parking garage or the fitness, reading, and children’s rooms.
Though Cushman & Wakefield did not name the buyer directly, the buyer listed on a deed was recorded as Northeast Property Owner, Inc., a Maquarie affiliate. At least one unit had already been resold to a local Larchmont couple for around $1.3 million.