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10 Bank Street

RPW Group Acquires White Plains Office Building At 10 Bank Street For $42M
SOLDOffice

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

Brett Siegel

Newmark

Broker

$6.4B

vol

82 deals

Broker

Robert P. Weisz

RPW Group

Buyer

$65.8M

vol

3 deals

Buyer
Thomas Durels

Thomas Durels

Empire State Realty Trust

Seller

$42M

vol

5 deals

Seller

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