Tarrytown Office Asset Changes Hands in $21M Deal

The transaction of the six-story property is expected to be closed during the second quarter of 2017.

By Mihaela Coste

520 White Plains Road In Tarrytown, N.Y.
520 White Plains Road In Tarrytown, N.Y.

Tarrytown, N.Y.—SL Green Realty Corp. recently announced an agreement to sell a 180,000-square-foot office building located in Tarrytown for a gross sale price of $21 million, approximately $117 per square foot.

The undisclosed buyer was represented by Jeff Dunne, vice chairman of CBRE, and the transaction, subject to customary closing conditions, is expected to be completed during the second quarter of 2017.

Located at 520 White Plains Road, the six-story property completed in 1981 is in close proximity to Tappan Zee Bridge, as well as interstates 87 and 287, offering easy access to other major thoroughfares. The building features standard ceilings, on-site surface parking, a full-service café, a gym and has immediate access to area hotels and a private tenant-only shuttle service to Tarrytown Metro North train station.

“This transaction is a continuation of our strategic efforts to dispose of non-core assets in order to generate cash proceeds that can be used for reinvestment or further fortification of our balance sheet,” said Isaac Zion, co-chief investment officer of SL Green, in a prepared statement.

Image courtesy of Regus