Inventory levels across many of the markets surveyed continue to contribute to a competitive landscape for buyers, driving median prices upward.
FDIC will relocate to 1166 Avenue of the Americas from the Empire State Building in a 10-year lease.
The TIFIA loan will support the funding of the first phase of the $10-billion bus terminal replacement project, with construction to begin this year.
TUCKAHOE—Valon Nikci, president and principal broker of Link NY Realty of Bronxville, reports it represented the buyer in the $8-million purchase of 269-273 Columbus Ave. in Tuckahoe.
The undisclosed buyer is a New York City landlord. The mixed-use property totals 34,888 square feet and features residential, office and retail uses.
The new owner plans to keep the property as is, according to Link NY Realty.
Lowe’s and Sam’s Club are situated within the larger Hudson Valley Plaza, a 673,000-square-foot regional power center, anchored by complementary retailers such as Walmart and PetSmart, among others.
Boasting a vacancy rate in the low 4% and uninterrupted positive trends in rental rates, fundamentals for Westchester multifamily are strong.
“We are thrilled to be opening our first office in Columbia County and expanding our reach in the Hudson Valley,” said Liz Nunan, President and CEO of Houlihan Lawrence.
The property was originally developed at a reported cost of approximately $250 million and was one of the first new major multifamily projects to be built in White Plains in some time.
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