RPW Group Acquires White Plains Office Building At 10 Bank Street For $42M
SOLD
$42,000,000
+ 5
New York
See Similar DealsOffice238,595 SF
Sold 12/14/2022
SOLD
RPW Group Acquires White Plains Office Building At 10 Bank Street For $42M
10 Bank Street
See Similar DealsOffice238,595 SF
Sold 12/14/2022
+ 5
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$176
Total Square Footage:238,595 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,239,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$149,217.14
Cash-on-Cash Return-1.27%
Monthly Debt Service$199,101.43
Annual Debt Service$2,389,217.13
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