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New York & Tri-State  + Fairfield/Westchester  + Retail  | 

White Plains Office/Retail Fetches Premium in “Challenging” Market

Marcus & Millichap arranged the sale of 14 Mamaroneck Ave. in downtown White Plains, NY. The mixed retail/office site sold for $8,950,000.

Weschester-based Joseph C. French, Jr. of Marcus & Millichap and Steven Rock of Marcus & Millichap Capital Corporation represented the seller, a private investor. The duo secured the buyer, also a private investor, with Rock arranging $5,530,000 in debt financing from a regional lender.

Regarding the transaction, the duo said, “Through our long-term relationships, we were able to make an introduction to the seller and buyer and together collaborated together to execute this transaction. We were able to achieve an above-average price per square foot for a suburban office and retail property in a challenging market.”

The property, located in downtown White Plains, houses nine office tenants and one retail unit. Tenants include People’s United Bank, CitiMed and multiple law offices.

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Inside The Story

Connect With Marcus & Millichap’s French and Rock

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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