Jack Sitt Real Estate & GII Acquires Office Buildings In White Plains For $42.5M
140 Grand Street, Brooklyn, NY 11249
$42,500,000
$195/SF
Building Size
217,628 SF
Asset Type
Office
Closing
Mar 2, 2020
About this deal
AI
Two office buildings located at 140 & 150 Grand Street in White Plains have been sold for a total price of $42,500,000. The sale took place on March 3, 2020, and the buildings have a combined square footage of 217,628. The price per square foot for this transaction was $195. The buyer is Jack Sitt Real Estate & GII, while the seller is Westport Capital Partners.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $42,500,000
- Square Footage: 217,628
- Price per Square Foot: $195
- Market: White Plains
The deal was facilitated by brokers Jeffrey Dunne, Steven Bardsley, and Jeremy Neuer from CBRE. They represented both the buyer, Jack Sitt Real Estate & GII, and the seller, Westport Capital Partners.
Players
New York 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
0.37%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93