PropUp Group Acquires City Center Retail Property In White Plains From Kite Realty Group Trust For $50M
5 Mamaroneck Avenue
$50,000,000
$138/SF
Building Size
361,948 SF
Asset Type
Retail
Closing
Sep 10, 2026
About this deal
AI
The property involved in this transaction is a retail asset located at 5 Mamaroneck Avenue in White Plains. The sale price of the property is $50,000,000, with a total square footage of 361,948. This translates to a price per square foot of approximately $138. The property consists of 24 units, equating to a price per unit of around $2,083,333.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $50,000,000
- Square Footage: 361,948
- Price Per Square Foot: $138
- Units: 24
- Price Per Unit: $2,083,333
- Buyer: PropUp Group
- Seller: John A. Kite - Kite Realty Group Trust
- Broker: JLL
- Acquisition Loan Amount: $39.2 million
Kite Realty Group Trust sold the City Center retail property in downtown White Plains to PropUp Group. JLL was responsible for arranging the sale, highlighting the involvement of the brokerage in facilitating this transaction.
On the Map
$50,000,000
$138/SF
Retail
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Players
White Plains Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.32%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93