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:
- Property Type: Office Buildings
- Transaction Amount: $37,000,000
- Address: 3 Odell PLZ, Yonkers, NY, 10701
- Square Footage: 130,607
- Seller: Entity Managed by Robert Martin Co.
- Buyer: Harbor Group International
- Seller's Representatives: Steven Bardsley, David Gavin, Jeremy Neuer, Gene Pride, and Stuart MacKenzie - CBRE
- Brokers: Jeffrey Dunne - CBRE
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
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