As we celebrate Women’s History Month, we honor every woman who made real estate her platform for empowerment, for equity and for legacy.
TKF Burnside officials stated the firm plans to modernize and enhance the existing hospitality-level amenity offerings.
TKF Burnside officials stated the firm plans to modernize and enhance the existing hospitality-level amenity offerings.
WHITE PLAINS—One of the most high-profile office buildings in Downtown White Plains has a new owner.
New York City-based TKF Burnside Real Estate Partners announced on Feb. 26 it had acquired 360 Hamilton Ave., a 400,000-square-foot office building that was built in 1971 and was at one time owned by Reckson and SL Green Realty. No financial terms of the transaction for the 12-story Class A office property were released.
Dave Hou of TKF Burnside represented the company in the transaction. Kevin Welsh and Charles Han of Newmark represented the undisclosed sellers, and Chris Kramer and Tim Polglase of Newmark represented TKF Burnside on the acquisition financing.
The property, located within short walking distance to the White Plains Metro-North Station and the city’s top restaurants, has a tenant roster that includes Merrill Lynch, Skadden, Arps, Slate, Meagher & Flom LLP, Heineken USA and Bank of America.
TKF Burnside officials stated the firm plans to modernize and enhance the existing hospitality-level amenity offerings, supporting the building’s tenants in attracting and retaining top talent.
“As the New York City office market continues to rebound in a meaningful way, we’ve seen the momentum spread to the near-in business districts,” said Ric Clark, co-founder of TKF Burnside. “Office demand is evolving but one principal remains: companies follow talent and talent follows vibrant, connected communities. White Plains—with a rapidly expanding residential base and the restaurants, social energy, walkability and affordability that today’s workforce demands—is exactly where modern companies want to be and a great place to invest.”
The deal is the second acquisition for the firm in just over a year. Its portfolio now totals nearly one million square feet across the greater New York metropolitan area.
“The acquisition of 360 Hamilton marks an important milestone in the growth of TKF Burnside’s investment and operating platform, building on the momentum of our recent acquisition of 1000 Woodbury on Long Island,” said Dennis Friedrich, co-founder of TKF Burnside. “This property strongly aligns with our strategy of investing in high-quality, amenitized assets located in dynamic, transit-oriented markets, whether that’s Manhattan’s central business district or a growing inner suburban market like White Plains, the central commercial hub of Westchester County and one of the shortest one-seat train rides into the Grand Central area.”
TKF Burnside Real Estate Partners is led by Clark and Friedrich, both former Brookfield executives. TKF Burnside’s investment strategy is to acquire high-quality or high-potential undercapitalized and underperforming real estate assets with a focused turnaround strategy to enhance value and achieve outperformance within the office, multifamily, retail and mixed-use sectors.
The 1.15 million-square-foot retail center, which originally housed 30 stores when it opened in 1954, is now home to more than 100 retail, dining, educational and entertainment venues.
Sherman most recently served as New York City’s Chief Equity Officer and Commissioner of the Mayor’s Office of Equity & Racial Justice.
Fanatics, which currently employs approximately 650 people in New York City, has decided to take on an additional 95,000 square feet of office space at its 95 Morton St. location.
The West of Hudson Transit Study will center on service improvements to bus networks, including local routes, regional commuter bus service, and micro-transit.
Receive original business news about real estate and the REALTORS® who serve the lower Hudson Valley, delivered straight to your inbox. No credit card required.
