GHP Office Realty Acquires Armonk Building
Real Estate In-Depth | October 17, 2019
ARMONK— GHP Office Realty, LLC, reported on Oct. 15 it had acquired 28 Kaysal Court in Armonk in an off-market sale.
The property is comprised of a 56,000 square foot flex building, on-site backup generator, two loading docks, and close to 200 parking spaces. The property is currently 81% leased to six tenants.
The building is located a few steps from Old Route 22 which is home to many Armonk restaurants such as Zero Otto Nove, Gavi and the Beehive.
GHP has plans to renovate the loading dock area to create a more modern façade as well as upgrade some mechanics within the building for more efficiency.
Nicholas J. Pepe of Bianco Pepe, the seller of 28 Kaysal Court, was represented by Domenick D’Apice of Standard Realty Corp.
Attorney Elizabeth Smith of Goldberg Weprin Finkel Goldstein, LLP represented GHP in the transaction. First American Title arranged the title for the deal.
GHP has recently acquired more than 830,000 square feet of commercial space in Westchester. The firm’s most recent acquisitions include two office complexes in Elmsford and Valhalla. GHP Office is the current owner and operator of Taxter Corporate Park at 555-565 Taxter Road, which is a two-building 371,224 square foot complex in Elmsford and 115-117 Stevens Avenue, which is a 182,630 square foot two-building complex in Valhalla.
Additionally, GHP purchased a 280,000 square foot Class A office building located at 660 White Plains Road in Tarrytown in 2017. A significant investment was made at 660 White Plains Road to create a state of the art 5,000-square-foot fitness center and create new covered parking spaces. Combined with its existing portfolio of office, flex/warehouse, and retail properties in the Tri-State area, GHP Office now owns, manages, and leases approximately 2.16 million square feet locally.