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555 White Plains Rd, Tarryt...

Sale Of 555 White Plains Rd Tarrytown For $8.85 Million With Sellers' Reps Chris O’Callaghan, Jillian Reiner, John Barrett
SOLDOffice

Sale Of 555 White Plains Rd Tarrytown For $8.85 Million With Sellers' Reps Chris O’Callaghan, Jillian Reiner, John Barrett

555 White Plains Rd, Tarrytown, NY, 1...

$8,850,000

Building Size

Asset Type

Office

Closing

Jul 28, 2021

AI

The property involved in this transaction is an office building located at 555 White Plains Rd, Tarrytown, NY. The sale price was $8,850,000.00. The building spans five stories and is situated on a 4.2-acre lot. It was previously occupied by Tappan Zee Constructors LLC during the construction of the Mario M. Cuomo Bridge and has been vacant since August 2020. Built in 1971, this building was acquired by Robert Martin Company in May 2017 for $5.48 million.

Summary of transaction details:

  • Property Type: Office Building
  • Transaction Amount: $8,850,000.00
  • Address: 555 White Plains Rd, Tarrytown, NY
  • Market: Tarrytown
  • Seller's Representatives: Chris O’Callaghan - RM Friedland, Jillian Reiner - RM Friedland, John Barrett - RM Friedland
  • Buyer: Unknown

Robert Martin Company announced the sale of the office building located at 555 White Plains Road to an undisclosed purchaser. Chris O’Callaghan, Jillian Reiner, and John Barrett represented Robert Martin Company in the transaction.

Players

John Barrett

RM Friedland

Broker

$38.3M

vol

4 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

1.79%

Cash-on-Cash

-0.51%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93