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200 White Plains Rd, Tarryt...

Updated Oct 29, 2024

Highstone Equity Group Acquires 200 White Plains Rd Tarrytown With Seller's Reps Kevin Welsh And Glenn Walsh
SOLDOffice

Highstone Equity Group Acquires 200 White Plains Rd Tarrytown With Seller's Reps Kevin Welsh And Glenn Walsh

200 White Plains Rd, Tarrytown, NY 10591

Building Size

179,000 SF

Asset Type

Office

Closing

Nov 20, 2023

About this deal

AI

The Talleyrand Office Park, located at 200 White Plains Rd, Tarrytown, NY 10591, encompasses a total area of 179,000 square feet across two six-story buildings. The property is situated on an 11-acre campus in Tarrytown, which benefits from its accessibility to interstates 287 and 87, Route 9, and its proximity to downtown Tarrytown and the train station. Currently, the property is 45 percent leased to approximately two dozen tenants.

Summary of transaction details:

  • Property Type: Office Park
  • Transaction Amount: Undisclosed
  • Square Footage: 179,000 SF
  • Address: 200 White Plains Rd, Tarrytown, NY 10591
  • Market: Tarrytown
  • Seller's Representative: Kevin Welsh - Newmark, Glenn Walsh - Newmark Knight Frank
  • Buyer: Highstone Equity Group

The transaction was facilitated by Newmark Knight Frank’s New Jersey-based capital markets team led by Executive Managing Director Kevin Welsh, Managing Director Brian Schulz, and Associate Director Chuck Kohaut, with additional support from Executive Managing Director Glenn Walsh. The brokerage team was also instrumental in procuring the buyer, Highstone Equity Group, which plans to invest in renovations including improved common areas and new amenities such as a conference center, tenant lounge, fitness center, and full-service cafeteria.

Players

Kevin Welsh

Newmark

Broker

$1.1B

vol

21 deals

Broker

Tarrytown 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

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