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Debt & Equity

GHP Office Realty places $22.5M mortgage on Tarrytown office tower

Houlihan-Parnes Realtors has placed a new $22,500,000 first mortgage on 660 White Plains Road in Tarrytown.

Photo by khrawlings/ Flickr
Photo by khrawlings/ Flickr

The iconic office building was purchased by affiliate, GHP Office Realty, along with a group of private investors, for $30 million last month.

The six-story building is 280,000 s/f and is presently 85 percent occupied with more than 30 tenants. The pyramid shaped property is

visible from the New York State Thruway, and located two miles from the Tappan Zee Bridge The new owners intend to initiate a substantial capital campaign to restore the building to a premier position as one of the most sought after properties in the suburban New York Area, according to GHP principal Andrew Greenspan

“We live and work in Westchester. We are headquartered in Westchester. We own and manage a dozen other properties nearby. We have the capital plan and know how to restore this property to the highest level,” Greenspan said.

Renovation plans include upgraded landscaping, lighting, parking lots, renovated lobbies and common areas, new state of the art fitness center, modernized food service and a revamped building and mechanical systems.

“The acquisition of 660 White Plains Road is a natural extension of what we do,” he added.

Bryan Houlihan and James J. Houlihan of Houlihan-Parnes Realtors arranged the $22,500,000 mortgage

GHP Office Realty is a division of Houlihan-Parnes Realtors, a leading owner, operator and purchasers of suburban New York commercial space.

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