Updated Oct 20, 2026
Harry Spitzer Acquires Cypress Executive Center In State College For $17.5M From Andrew Webb
Cypress Executive Center
$17,500,000
$124/SF
Building Size
140,635 SF
Asset Type
Office
Closing
Dec 23, 2020
About this deal
AI
The Cypress Executive Center, located in State College, is an office asset that has a total square footage of 140,635. The property was sold for $17,500,000.00.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $17,500,000.00
- Address: Cypress Executive Center
- Market: State College
- Square Footage: 140,635.0
- Buyer: Harry Spitzer
- Seller: Andrew Webb (ICM Realty Group)
- Broker: Tyler Kuhlman
This transaction involves significant parties including Harry Spitzer as the buyer, Andrew Webb representing ICM Realty Group as the seller, and Tyler Kuhlman as the broker facilitating the deal.
On the Map
$17,500,000
$124/SF
Office
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Players
State College 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
0.91%
Cash-on-Cash
-0.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93