$237 Million Apartment Community Sale Highlights Investor Confidence in Westchester Housing Market

A major multifamily transaction in Westchester County is highlighting continued confidence in the region's housing market and its appeal to both domestic and international investors.



Kennedy Wilson, in partnership with Japanese investment firms Kenedix, Inc. and Hulic Co., Ltd., has acquired Carraway, a 421-unit multifamily community in West Harrison, for $237 million. The transaction represents one of the largest apartment sales in the region this year and underscores the strength of Westchester's residential real estate market.

Completed in 2021, Carraway is a Class A apartment community located at 105 Corporate Drive in West Harrison. The property includes 421 residential units, approximately 6,400 square feet of ground-floor retail space, and a range of amenities designed to meet the needs of today's renters, including a fitness center, coworking space, resident lounge, resort-style pool, and structured parking.

According to Kennedy Wilson, the community has experienced strong leasing performance, with rents increasing by more than 5 percent over the past year. Company executives cited Westchester County's strong demographics, proximity to major employment centers, transportation access, and quality-of-life advantages as key drivers behind the investment.

For REALTORS® and housing professionals, the acquisition serves as another indicator of continued demand for housing throughout Westchester County. Institutional investors continue to target well-located multifamily properties in suburban markets that offer access to New York City while providing residents with additional space, amenities, and lifestyle options.

The transaction also reflects the increasingly global nature of today's real estate market. Alongside Kennedy Wilson, Japan-based Kenedix and Hulic participated in the acquisition, demonstrating how international investors continue to view Westchester County and the greater New York metropolitan area as attractive long-term markets for housing investment.

For members involved in global business, the deal serves as a reminder that local real estate markets are often influenced by international capital, investment trends, and economic relationships that extend far beyond regional boundaries. As HGAR continues to strengthen its global connections through the Global Business Council and international partnerships, transactions such as this highlight the growing intersection of local and global real estate.

The acquisition also reflects a broader trend of investment flowing into high-quality suburban housing communities across the region. As housing demand remains strong and inventory challenges persist, multifamily properties continue to attract significant interest from investors seeking stable, long-term growth opportunities

Major multifamily transactions provide insight into investor confidence, housing demand, and market fundamentals. The Carraway acquisition signals continued optimism about Westchester County's residential market and reinforces the region's position as a desirable location for both residents and real estate investment.