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Robert Martin Company Sells Yonkers Office Property For $36.6M With Brokers Jeffrey Dunne, Steven Bardsley, David Gavin & Stuart Mackenzie

Property Image
SOLD
$36,600,000
Jeffrey Dunne
David Gavin
+ 2

New York

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Office130,607 SF
Sold 03/17/2021
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Property Image
SOLD

Robert Martin Company Sells Yonkers Office Property For $36.6M With Brokers Jeffrey Dunne, Steven Bardsley, David Gavin & Stuart Mackenzie

3 Odell Plaza, Yonkers, NY 10701, USA

See Similar Deals
Office130,607 SF
Sold 03/17/2021
Jeffrey Dunne
David Gavin
+ 2
Contact now

Summary

NEW YORK
Asset Type:Office
Price Per Square Foot:$280
Total Square Footage:130,607 SF
Transaction Type:Sale

This office property located at 3 Executive Boulevard & 3 Odell Plaza in Yonkers was recently sold in a transaction that took place on 03/17/2021. The sale was facilitated by Jeffrey Dunne, Steven Bardsley, David Gavin, and Stuart Mackenzie from BRE Capital Markets, who acted as brokers in the deal. The seller of the property was the Robert Martin Company, represented by Timothy Jones. The property was sold for a total price of $36,600,000.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $36,600,000
  • Address: 3 Executive Boulevard & 3 Odell Plaza, Yonkers
  • Market: Yonkers

Spanning a total area of 130,607 square feet, the office property was sold at an approximate price per square foot (PPSF) of $280. The sale of this property in Yonkers showcases the growing demand for office spaces in the area.

Players

Steven Bardsley
47 deals$1.9B volume
BROKER

David Gavin
CBRE
45 deals$2B volume
BROKER

Jeffrey Dunne
CBRE
86 deals$4B volume
BROKER

Stuart MacKenzie
CBRE
25 deals$1.6B volume
BROKER

Details

SOLD
IMAGE: Jeffrey Dunne, David Gavin, Timothy Jones, Stuart Mackenzie & Steven Bardsley DATE: 03/17/2021 ADDRESS: 3 Executive Boulevard & 3 Odell Plaza MARKET: Yonkers ASSET TYPE: Office SELLER: Robert Martin Company - Timothy Jones BROKERS: Jeffrey Dunne, Steven Bardsley, David Gavin & Stuart Mackenzie - @CBRE Capital Markets SALE PRICE: $36,600,000 SF: 130,607 ~ PPSF: $280

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,951,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$130,032.08
Cash-on-Cash Return-1.27%
Monthly Debt Service$173,502.67
Annual Debt Service$2,082,032.07