If The Donald can’t sell it, how can Summit Greenfield?

May 16, 2008
by Ann Marie Fallon

The Trump Park Residences is a 141-condominium community located in Yorktown, New York. This high end project, launched in September 2006 by Donald Trump and Louis and Michael Cappelli, was touted for “active adults” ages 55 and older or, as marketers for this type of residences prefer to say, “55 or better.”

It boasts top-of-the-line amenities and services, lakes and trails, plus the privilege of a social or golf membership at a prestigious Trump golf club in Briarcliff Manor, New York.

A recent inquiry made to the Trump Park Residence sales office indicated that things have changed a bit in Yorktown since September 2006. According to a representative in the sales department, the 55+ restriction for the condo development has been altered. Sponsors of the development filed an amendment with the New York State Attorney General disclosing that it was their intention to alter the 55+ restriction to allow for the sale of 25% of the units to those who do not fit the 55+ criteria. When asked directly whether children could now live at the complex, the sales representative replied that Trump Park Residences “do not discriminate due to race, creed, or age.”

This alteration to the Capelli-Trump offering is of particular interest to residents of New Castle since developer Summit Greenfield’s proposed Chappaqua Crossing project at the former Reader’s Digest property calls for the development of 278 condominium units, of which 244 are to be restricted to those 55 and older. Those opposed to the development have questioned the enforceability of such a 55+ age restriction, fearful of the financial impact of additional students on the Chappaqua schools.