RD Management Acquires Iconic 280,000-Square-Foot Office Building in Tarrytown, NY
April 19, 2017
RD Management LLC, one of the nation’s largest privately held real estate development and management organizations, has acquired a 280,000-square-foot Class A office property in Tarrytown, New York, alongside GHP Office Realty and other private investors, for $30 million. The Tarrytown Corporate Center building is currently 85 percent occupied with more than 30 tenants. Cushman & Wakefield’s Metropolitan Area Capital Markets Group arranged the deal with the seller, RNY Property Trust.
Located at 660 White Plains Road, the pyramid-shaped office building is known as one of the largest and most iconic office buildings in Westchester County. It sits on 11 acres in the Tarrytown Corporate Center, with easy access to major highways, the Tappan Zee Bridge, and New York City. The six-story building features on-site food service, 24-hour access, ample parking, and public transit stops.
“RD Management’s acquisition of this iconic office building in Tarrytown is yet another example of how we are diversifying our portfolio to include real estate assets beyond retail,” said Richard Birdoff, principal and president of RD Management. “We’re confident that we’ll be able to quickly restore the building and modernize its amenities for today’s workforce with our partners on this project so that it once again is sought after by businesses large and small looking for premier office space in suburban New York.”
Plans for the office building include improved landscaping, lighting, and parking lots; renovated lobbies and common areas; a new state-of-the-art fitness center; modernized food service; and upgraded building and mechanical systems.
RD Management owns 16 properties in New York, and has more than 200 properties in its national portfolio.
Those with non-office inquires can contact Darren Sasso at (212) 265-6600 x354 or firstname.lastname@example.org.