News:
Brokerage
Posted: August 24, 2021
Robert Martin Co. sells Tarrytown office bldg. for $8.85 million; RM Friedland is broker
Tarrytown, NY Robert Martin Company, one of the largest real estate management and development firms in Westchester County, has completed the sale of 555 White Plains Rd.
The sale price was $8.85 million.
The five-story office building, which is located on 4.2 acres of property, was previously occupied by Tappan Zee Constructors LLC during the construction of the Mario M. Cuomo Bridge. The building, which was built in 1971, has been vacant since August 2020. Robert Martin acquired the building in May 2017 for $5.48 million.
RM Friedland brokers Chris O’Callaghan, managing director, office division; John Barrett, managing director, investment sales, and Jillian Reiner, real estate salesperson, office division represented Robert Martin Co.
“This asset sale is in keeping with our strategy of shifting capital to invest in areas of high growth potential such as industrial/warehouse properties and multi-family residential development,” said Tim Jones, CEO of Robert Martin Company.
Tags:
Brokerage
MORE FROM Brokerage
Marcus & Millichap brokers $16.25 million sale of Ponce Bank flagship headquarters in the Bronx
Bronx, NY Marcus & Millichap negotiated the sale of a net-leased bank property occupied by Ponce Bank. The asset sold for $16.25 million. “This property drew tremendous interest as it was a
Columns and Thought Leadership
The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman
July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian
There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
A fresh start - by Shallini Mehra and Amit Doshi
For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,