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3 Odell PLZ, Yonkers, NY, 1...

Harbor Group International Acquires 3 Odell Plaza Yonkers For $37 Million With CBRE Brokers
SOLDOffice

Harbor Group International Acquires 3 Odell Plaza Yonkers For $37 Million With CBRE Brokers

3 Odell PLZ, Yonkers, NY, 10701

$37,000,000

$283/SF

Building Size

130,607 SF

Asset Type

Office

Closing

Nov 19, 2023

AI

3 Odell Plaza, located in Yonkers, NY, is an office property that has been sold for $37,000,000. The asset encompasses a total of 130,607 square feet and is situated in the Yonkers market. The property is leased long-term to a single tenant, Montefiore Health System.

Summary of transaction details:

The transaction involved multiple representatives from CBRE, who negotiated the sale on behalf of the seller. Jeffrey Dunne of CBRE played a key role in procuring Harbor Group International as a buyer, alongside the engagement of Benedict Realty Group in the transaction.

Players

Gene Pride

Newmark

Broker

$1.6B

vol

22 deals

Broker
Harbor Group International
Harbor Group InternationalBuyer

Robert Martin

Co

Seller

$947.7M

vol

6 deals

Seller

Yonkers 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

0.43%

Cash-on-Cash

-0.12%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93