Interra Capital Group Acquires Property At 1311 Mamaroneck Ave, White Plains As Buyer’s Broker CBRE
1311 Mamaroneck Ave, White Plains...
Building Size
323,431 SF
Asset Type
Office
Closing
Nov 20, 2023
About this deal
AI
The property involved in this transaction is an office building situated at 1311 Mamaroneck Ave, White Plains, NY. The total area of the building is 323,431 square feet and it is located on a 21-acre site within the White Plains market. At the time of sale, the building was 53 percent leased.
Summary of transaction details:
- Property Type: Office Building
- Transaction Amount: Not disclosed
- Address: 1311 Mamaroneck Ave, White Plains, NY
- Market: White Plains
- Seller's Representative: Kurt Altvater & Jack Howard - CBRE
- Buyer's Representative: Jeffrey Dunne - CBRE
- Buyer: Interra Capital Group
- Square Footage: 323,431
- Leasing Status: 53 percent leased
Key individuals involved in this transaction include Jeffrey Dunne, Steve Bardsley, Travis Langer, Patrick Arangio, Jack Howard, and Kurt Altvater from CBRE who represented the undisclosed seller and procured Interra Capital Group as the buyer in this deal.
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93