Sell Your Commercial Property In White Plains, NY

Who rents in White Plains

White Plains had 60,666 residents in the ACS 2020–2024 estimates, living in 25,578 occupied homes. Renters held 12,534 of them and owners 13,044, close to an even split. The median household income was $110,763, and the median gross rent was $2,269.

High incomes do not remove rent pressure. Of renter households, 51.3% spend 30% or more of income on rent and utilities. About 3,176 households, a quarter of renters, spend half or more, while 1,173, about 9%, spend less than 15%. That spread reflects a tenant base split between newer market-rate buildings and long-held units in older ones.

Hospital growth and employment

The largest project in the city is health care. White Plains Hospital, part of Montefiore, broke ground on May 5, 2025 on a 10-story, 500,000-square-foot expansion that adds 240 private inpatient rooms, 144 of them opening in 2028. Licensed beds rise from 292 to 436. The $750 million project is financed with a $500 million DASNY bond, philanthropy and hospital equity. The added beds will need nurses, technicians and support staff in a city where about half of households rent.

The apartment stock

Large buildings define the market (table B25024):

Small multifamily is thin: two- to four-unit buildings hold only 8.4% of homes, and buildings of five to 19 units another 11.7%. With most rental units in buildings of 20 or more, the local comparables for a 5- to 19-unit property are relatively few. The median home was built in 1961, 70.5% of units predate 1980 and 8,224 were built before 1940. Construction picked up again in the 2000s, when 2,730 units were added, more than in the 1970s (1,858) or the 1980s (2,168). Since then, 1,564 units date from 2010 to 2019 and 362 from 2020 or later (table B25034).

Rent stabilization and Good Cause

Westchester County lists White Plains among the municipalities that adopted the Emergency Tenant Protection Act, with a six-unit minimum. Under ETPA, generally pre-1974 buildings of that size are stabilized, owners register units with the state's Office of Rent Administration, and the Westchester County Rent Guidelines Board sets increases on renewal and vacancy leases (HCR).

White Plains is also on the state's list of municipalities outside New York City that opted into Good Cause Eviction (HCR August 2026 notice). For covered units, an increase above the lower of 10% or 5% plus CPI is presumptively unreasonable (HCR). The August notice lists regional CPI of 3.15% to 3.38%, putting this year's reference point a little over 8%. Units renting above the threshold in the notice, 345% of the Fair Market Rent for municipalities that did not set their own figure, fall outside Good Cause. A single older building can therefore hold stabilized units, Good Cause units and units exempt from both.

Landlord rules that affect a sale

State law applies on top of the local programs. A security deposit may not exceed one month's rent; the landlord must offer an inspection before move-in and, after the tenant leaves, return the deposit with an itemized statement within 14 days or lose the right to keep any of it (GOL § 7-108). For nonpayment, a written rent demand giving at least 14 days' notice must precede a court case (RPAPL § 711). At closing, a buyer will want each tenant's deposit accounted for and transferred, so deposit records belong in your sale file alongside leases and registrations.

Assessment and closing costs

White Plains assesses property itself, and its 2026 final roll uses a uniform percent of value of 2.09, with a taxable status date of December 1, 2025. New York lets municipalities assess at a fraction of market value and uses equalization rates to compare them (NYS Tax Department). Because the assessed figure is so far below market, read value from the tax bill, not the roll. Assessment complaints go to the city's Board of Assessment Review. The state transfer tax is 0.4% of the price, paid by the grantor (NYS Tax Department); security deposits are capped at one month's rent (GOL § 7-108).

What this means if you own a building here

Buyers in White Plains start from the legal rent roll. They will sort units into stabilized, Good Cause and exempt groups, check DHCR registration history, and underwrite each group on its permitted increases rather than on downtown asking rents. Expect them to price capital needs in a 1960s building carefully. Our cap rate calculator and value calculator help you test numbers on in-place net operating income. Skyline Capital Investments buys 5+ unit buildings in White Plains, including Battle Hill and North Broadway; our seller page explains how we make offers.