Updated Oct 28, 2024
Montefiore Health System Acquires Development Site In White Plains For $38M
77 West Post Road, White Plains, NY, USA
$38,000,000
$218/SF
Building Size
174,240 SF
Asset Type
Development Site
Closing
Aug 24, 2021
About this deal
AI
The property involved in this closed transaction is a development site located at 77 W. Post Road in White Plains. The property has a zoning designation of B-3 and spans a total of 174,240 square feet.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $38,000,000
- Address: 77 W. Post Road, White Plains
- Market: White Plains
- Seller: Gotham Organization - Joel I. Picket & David L. Picket, Grid Properties
- Seller's Representative: Jeffrey Dunne, David Gavin, Eric Apfel, Jeremy Neuer, Steve Bardsley, Stuart MacKenzie & Zach McHale - CBRE
- Buyer: Montefiore Health System
- Asset Type: Development Site
- Zoning: B-3
- BSF: 174,240
- PPSF: $218
The buyer, Montefiore Health System, acquired the development site from the sellers, Gotham Organization - Joel I. Picket, David L. Picket, and Grid Properties. The transaction was facilitated by the seller's representatives, Jeffrey Dunne, David Gavin, Eric Apfel, Jeremy Neuer, Steve Bardsley, Stuart MacKenzie, and Zach McHale from CBRE.
Players
City of White Plains Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.42%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93