RPW Group Acquires White Plains Office Building At 10 Bank Street For $42M
10 Bank Street
$42,000,000
$176/SF
Building Size
238,595 SF
Asset Type
Office
Closing
Dec 14, 2022
AI
Located at 10 Bank Street in White Plains, this office property was recently sold in a closed transaction. The property spans 238,595 square feet and was sold for a total price of $42,000,000, resulting in a price per square foot of $176.
Summary of transation details
- Property Type: Office
- Transaction Amount: $42,000,000
- Square Footage: 238,595
- Price per Square Foot: $176
- Address: 10 Bank Street, White Plains
The buyer of this property was Rpw Group, represented by Robert Weisz. On the other hand, the seller was Empire State Realty Trust, represented by Anthony Malkin, Aaron Ratner, and Thomas Durels. The deal was facilitated by the brokers Brett Siegel, Evan Layne, Kevin Welsh, and Brian Schulz from Newmark.
Players
White Plains Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.38%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93