Hot Property Pick: White Plains Location Gets Million Dollar Cut (8/5)
This newly-discounted White Plains rentable property is looking for an investment.
Property: 901 North Broadway, White Plains
Brokered By: Massey Knakal Realty Services; (212) 660-2500
Description: An investment property. Massey Knakal has calculated an annual net operating income north of $175,000, accounting for vacancy, 15 percent credit allowance, and roughly $275,000 in annual expenses. Located between Washington Place East and Hillandale Avenue on the west side of North Broadway, the property contains approximately 30,000 square feet of rentable office space.
Selling Point: The price was just reduced by a not-so-subtle $1M to $4.75M. There’s also a 125-space parking lot behind the building. It’s a short drive to I-287, I-684, the Taconic State Parkway, and other major highways, and just one mile from the North White Plains Metro-North Station.
Downside: The top floor is largely vacant.