Argent Ventures Acquires Mixed-use Property In White Plains For $105M
1 North Broadway, White Plains, New York 10601, United States
$105,000,000
$146/SF
Building Size
715,365 SF
Asset Type
Mixed-use
Closing
Feb 15, 2022
About this deal
AI
The mixed-use property located at 1 N. Broadway in White Plains has been sold in a transaction. The property, spanning an area of 715,365 square feet, was sold for a total price of $105,000,000. The sale price per square foot (PPSF) was calculated to be $146.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $105,000,000
- Square Footage: 715,365
- Market: White Plains
The buyer of the property was Argent Ventures, while the sellers were Ivy Realty and DW Capital. The deal was facilitated by brokers Kevin Welsh, Brian Schulz, Jason Emrani, Evan Layne, Brett Siegel, and Alex Foshay, who represented Newmark. This transaction represents an important milestone for all parties involved.
On the Map
$105,000,000
$146/SF
Mixed-use
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Players
City of White Plains Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.15%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93