HIG & Robert Martin Acquire Office Portfolio Including One Executive Blvd In Yonkers For $487.5M
1 Executive Blvd #435, Yonkers, NY 10701, USA
$487,500,000
$15/SF
Building Size
31,000,000 SF
Asset Type
Office
Closing
Jun 5, 2019
AI
One Executive Blvd and 61 other properties in Yonkers, Westchester, and Stamford have been sold in a closed property transaction. The office properties were purchased for a total price of $487,500,000 by HIG & Robert Martin. The seller of these properties was Mack-Cali Realty. The total square footage of the properties is approximately 3,100,000 square feet, with an average price per square foot of $157.
Summary of transation details
- Property Type: Office
- Transaction Amount: $487,500,000
- Square Footage: 3,100,000
- Price per Square Foot: $157
- Buyer: HIG & Robert Martin
- Seller: Mack-Cali Realty
- Brokers: Jordan Avanzato, Marc Duval, & Jose Cruz
Jordan Avanzato, Marc Duval, and Jose Cruz represented the buyer and seller in this 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
0.03%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93