Cushman & Wakefield Arranges $30M NY Office Sale
- Mar 20, 2017
New York—Cushman & Wakefield recently arranged the $30 million sale of an office building at 660 White Plains Rd., in Tarrytown, N.Y. GHP Office Realty, a privately held, Westchester-based real estate firm, acquired the asset from RA 660 White Plains Road LLC, an entity controlled by RNY Property Trust.
Situated on 11 acres, in the Tarrytown Corporate Center, the property is within walking distance of hotels, lifestyle amenities and minutes away from the Tappan Zee Bridge. The six-story, Class A building features 279,000 square feet of office space and offers amenities such as on-site food service, 24-hour access, ample parking and public bus service.
“The property is 87 percent leased to a diverse rent roll of over 40 tenants ranging in size from less than 1,000 square feet to nearly 60,000 square feet,” said Cushman & Wakefield‘s Andrew Merin, who led the transaction with Metropolitan Area Capital Markets Group team members David Bernhaut, Gary Gabriel, Brian Whitmer, Frank DiTommaso and Al Mirin. “It continues to outperform the greater Westchester market, and the new ownership will be able to capitalize on the building’s flexibility and strong regional market fundamentals to increase occupancy and NOI.”
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