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The asking price is $32 million which equates to approximately 7.5 percent capitalization rate. Cushman and Wakefield’s Stephen R. Preuss, Bill Eisenhut and Gary Gabriel are exclusively representing the sellers.
The twelve-story building contains approximately 148,593 square feet and sits on a 132.37 by 125.58 foot lot. It is comprised of 15 office units and is approximately 87 percent leased. Anchor tenants include New York State, Westchester Community College, the Social Security Administration, and Bank of America.
The building is nestled in Yonkers’ Central Business District, among a variety of office and retail buildings. Additionally, the building’s scale and waterfront location lend views of the Hudson River and the Manhattan skyline. The property can be accessed via the Yonkers Metro-North station.
“This is an ideal opportunity for an investor to acquire a trophy office building with an attractive cap rate in the heart of Yonkers anchored by long standing credit tenants such as Bank of America,” said Cushman and Wakefield’s Stephen R. Preuss.
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