Cushman & Wakefield has been retained on an exclusive basis to market a multi-tenanted office building at 20 South Broadway in Yonkers, New York. The asking price is 32,000,000 which equates to approximately 7.5% capitalization rate. Cushman & Wakefield’s Stephen R. Preuss, Bill Eisenhut and Gary Gabriel are exclusively representing the sellers.
The twelve-story building contains approximately 148,593 square feet and sits on a 132.37’ by 125.58’ lot. It is comprised of 15 office units and is approximately 87% leased. Anchor tenants include New York State, Westchester Community College, US Social Security Administration, and Bank of America.
20 South Broadway is nestled in the heart of Yonkers’ Central Business District, amongst a variety of office and retail buildings. Additionally, the building’s impressive scale and waterfront location lend to tremendous views of the Hudson River and the Manhattan skyline. The property can be easily accessed via the Yonkers Metro-North station.
“This is an ideal opportunity for an investor to acquire a trophy office building with an attractive cap rate in the heart of Yonkers anchored by long standing credit tenants such as Bank of America,” said Cushman & Wakefield’s Stephen R. Preuss.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 43,000 employees in more than 60 countries help investors optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
