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SL Green Sheds Tarrytown Properties for $48M

TARRYTOWN, NY-The two properties at 100 and 120 White Plains Rd. are part of an eight-building portfolio the REIT put on the market last year.

By Paul Bubny | Updated on November 04, 2008

TARRYTOWN, NY-SL Green Realty Corp. has sold 100 and 120 White Plains Rd. here for $48 million to locally based Juster Development. The two properties were part of the one-million-square-foot, eight-building portfolio of Westchester County office buildings which SL Green put on the market last November.

Also known as the Christiana Building, the six-story, 205,000-square-foot, 120 White Plains was developed in 1984 and renovated a few years ago. Originally a residential building constructed in 1927, 100 White Plains contains 6,000 square feet on four stories.

“The final results of the sale demonstrate the fact that strong pricing is still achievable for good quality, well-located assets,” says Andrew Merin, vice chairman of Cushman & Wakefield’s capital markets group, in a release. “In a real estate market where there is simply not an abundance of class-A product available for purchase, the buyer seized the opportunity available.”

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