Hot Property Pick: White Plains Location Gets Million Dollar Cut (8/5)

This newly-discounted White Plains rentable property is looking for an investment.

Hot Property

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.

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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.

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