Kennedy Wilson Acquires 421-Unit Carraway Apartments in West Harrison from J.P. Morgan Asset Management

WEST HARRISON, N.Y. — July 7, 2026 — Kennedy Wilson has acquired Carraway, a 421-unit luxury apartment community in West Harrison, New York, from institutional investors advised by J.P. Morgan Asset Management, JLL announced. JLL represented the seller in the transaction and also advised Kennedy Wilson on acquisition financing. Financial terms were not disclosed.

Property Overview: A Newly Built Suburban Multifamily Asset

Located at 105 Corporate Park Dr., Carraway is a five-story mid-rise apartment community completed in 2021. The property is currently 95% occupied and offers studios, one- and two-bedroom residences averaging 1,000 square feet. The complex includes 6,375 square feet of retail space, with 3,089 square feet leased to Wonder, a boutique food hall recognized among the top 50 most innovative companies in 2025.

The property sits adjacent to a Wegmans supermarket and a Life Time health club. Amenities include a fitness center with Life Fitness equipment, a sports simulator with lounge area, a pet spa, a chef's display kitchen, and a resort-style pool deck with cabanas.

West Harrison Submarket: Demand Drivers and Market Fundamentals

The West Harrison submarket has attracted sustained institutional attention, supported by a combination of high household incomes, constrained supply, and strong commuter connectivity. Average household income within one mile of Carraway is $274,051, according to JLL. Westchester County has maintained a 95% average stabilized occupancy rate over the past five years, and 2024 absorption outpaced new deliveries by 4.1%, according to the firm.

JLL also noted that in-place rents at Carraway represent approximately a 50% discount to monthly homeownership costs within a five-mile radius.

The property is located less than one mile from Interstate 287 and approximately three miles from White Plains Train Station, which provides direct service to Grand Central Terminal in 35 minutes. The surrounding corporate ecosystem includes PepsiCo, IBM, and Mastercard, as well as nearby campuses of Fordham University Graduate School and Pace University.

JLL's Role and Deal Team

JLL Capital Markets' Investment and Sales Advisory team representing the seller was led by Senior Managing Directors Jose Cruz and Steve Simonelli and Director Austin Pierce.

"Carraway represents a rare opportunity to acquire a newly built, institutional-quality asset in one of Westchester's most desirable submarkets," Cruz said in a statement. "The property's combination of oversized units, world-class amenities and proximity to major employment centers positions it exceptionally well for continued strong performance."

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers, with more than 3,000 specialists worldwide and offices in nearly 50 countries.

About the Firms

JLL (NYSE: JLL) is a global commercial real estate services and investment management company with annual revenue of $26.1 billion and operations in over 80 countries. Kennedy Wilson is a real estate investment company with $37 billion of assets under management across high-growth markets in the United States, the United Kingdom, and Ireland. The firm has closed more than $60 billion in total transactions since 2009. J.P. Morgan Asset Management is the asset management division of JPMorgan Chase & Co.