Dutch Hill Partners acquires 47,000 s/f class A building

Dutch Hill Partners, LLC, has finalized the purchase of 100 Dutch Hill Rd., a 47,000 s/f class A office building. The price was undisclosed. The brokers included CBRE's William Cuddy, Jr., executive VP, Kevin Langtry, associate, and Al Mirin, senior VP. Formerly owned by Key Bank, and previously the headquarters of Union State Bank (USB), the 25-year old building will be reconfigured for multi-tenant office use. The renovation, expected to be complete by this spring, will include new HVAC, electrical and plumbing systems, and new common areas and bathrooms. As part of the acquisition, Dutch Hill Partners provided Key Bank with a short term-leaseback of 15,000 s/f. Key will be vacating the tenancy on March 31 upon expiration of the lease. "We're committed to making 100 Dutch Hill Rd. the most attractive office property in the local market," said Gabe Alexander, a Dutch Hill Partners principal. "We are delighted to have completed the transaction with Key Bank and believe the convenient location of the property will be very attractive to potential tenants." Dutch Hill Partners has already seen leasing activity with 18,000 s/f already leased among four tenants. 100 Hundred Dutch Hill Rd. comprises three acres and is conveniently located one block from the Palisades Pwy. and minutes from the George Washington and Tappan Zee bridges.