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81 Main St. Building in White Plains Sells for $17 Mil

WHITE PLAINS-The Winter Organization of New York City has acquired 81 Main St., an eight-story, 117,000-sf building here for $17 million from Massachusetts Mutual Life Insurance Co.

By John Jordan | Updated on January 31, 2002

WHITE PLAINS-Massachusetts Mutual Life Insurance Co., has sold its 81 Main St., office building property here for $17 million to The Winter Organization, a New York City-based real estate developer and investment firm.

The deal was brokered by CB Richard Ellis’ Tri-State Investment Team on behalf of Cornerstone Real Estate Advisers, Inc., acting as adviser to the owner, Massachusetts Mutual Life Insurance Company. The transaction marks the Winter Organization’s entrance into the Westchester County commercial office market, says Jeff Dunne, the leader of the CB Richard Ellis Tri-State Investment Team. The transaction closed less than a week ago. CB Richard Ellis also procured the buyer in the deal.

The 81 Main St., property, which is predominately occupied by law firms, was sold at 96% occupancy. The largest tenants at the eight story, 117,000-sf building located nearby the White Plains Metro North railroad station and the Westchester County and U.S. District courthouses, include: Einhorn, Yaffee Prescott; Harrington, Ocko & Monk; Bartlett, McDonough Bastone & Monaghan and Serchuck & Zelermyer LLP. The property was built in 1984.

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