Tarrytown Office Building Trades for Nearly $9 Million
Real Estate In-Depth | August 23, 2021
ELMSFORD—Robert Martin Company recently reported the sale of its 555 White Plains Road office building in Tarrytown to an undisclosed purchaser. 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.
“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.
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 in the transaction.