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2-4 Westchester Park Drive,...

Northpath Investments Acquires Office Building In Westchester For $20M
SOLDOffice

Northpath Investments Acquires Office Building In Westchester For $20M

2-4 Westchester Park Drive, White Plains, Westchester, NY, USA

$20,000,000

$90/SF

Building Size

222,198 SF

Asset Type

Office

Closing

Feb 8, 2021

AI

Northpath Investments has acquired the office property located at 2-4 Westchester Park Drive in Westchester. The transaction, which took place on February 9, 2021, was facilitated by a team of brokers including Kevin Donner, Adam Spies, Frank DiTommaso, David Bernhaut, Gary Gabriel, Andy Merin, Al Mirin, John Alascio, Sridhar Vankayala, Chuck Kohaut, TJ Sullivan, and Maya Steinberger from CushWake. The property, spanning 222,198 square feet, was sold by Heritage Realty Services for a price of $20,000,000, resulting in a price per square foot of $90.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $20,000,000
  • Address: 2-4 Westchester Park Drive
  • Market: Westchester

Notable individuals involved in the deal include Al Mirin, Adam Spies, Gary Gabriel, Andy Merin, Frank DiTommaso, John Alascio, Kevin Donner, and David Bernhaut. Northpath Investments acted as the buyer, while Heritage Realty Services represented the seller. The involvement of multiple brokers from the CushWake team highlights the collaborative nature of this transaction.

Players

Andrew Merin

Cushman & Wakefield

Broker

$3.1B

vol

35 deals

Broker
Adam Spies
Verified Badge

Adam Spies

Newmark

Broker

$72.2B

vol

266 deals

Broker
Northpath Investments
Northpath InvestmentsBuyer

West Harrison 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

0.79%

Cash-on-Cash

-0.23%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93