Marcus & Millichap Closes Sale of Irvington’s Astor Buck Campus
Marcus & Millichap closed the sale of the Astor Buck Campus, a three-building, 138,000-square-foot office campus in the Westchester County community of Irvington, NY. The property sold for $23.5 million.
The firm’s Alan Cafiero, Mark Gjonbalaj and Matt Leszyk represented the seller, Stanford Bridge LLC and procured the buyer, Carvi Properties Inc.
“Designed by Stanford White and built along the Hudson River in 1895, the Astor Buck Campus has a stable rent roll and strong tenant mix led by fashion designer Eileen Fisher,” said Cafiero. “Renovated multi-purpose workspaces, including live-in artist lofts, light distribution-warehouse space, and customized offices provide a variety of tenant uses.
“Lease-up of vacant space gives our buyer an attractive upside opportunity and bringing the in-place rents to market rates will help increase cash flow in the near term,” he continued.