DigiChem Corporation Signs 5-Year Lease For Lab Space With Northpath Investments In Tarrytown
500 White Plains Road
Building Size
155,987 SF
Asset Type
Life Sciences
Closing
May 12, 2025
AI
The property asset involved in this transaction is a life sciences facility located at 500 White Plains Road in Tarrytown, NY, comprising a total of 155,987 square feet. The lease agreement involves a specific space of 3,035 square feet designated for lab use.
Summary of transaction details:
- Property Type: Life Sciences
- Transaction Amount: Not specified
- Address: 500 White Plains Road
- Market: Tarrytown
- Landlord: Geoffrey Adler - Northpath Investments
- Tenant: Greg Ellson - DigiChem Corporation
- Landlord's Representative: Ian Ceppos & John Cahill - JLL
- Tenant's Representative: Michael Litsky - Rakow Commercial Realty Group
- Lease Term: 5 years
The transaction features key individuals such as Geoffrey Adler, who represents the landlord Northpath Investments, and Greg Ellson, who is the tenant from DigiChem Corporation. The deal's negotiations involved representatives Ian Ceppos and John Cahill from JLL for the landlord, while the tenant was represented by Michael Litsky from Rakow Commercial Realty Group.
Players
Tarrytown Life Sciences Market Snapshot
Boundary boundary · Life Sciences · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93