Property Details

  • Capstone acquired a note secured by a 105,000 SF suburban office building located in Valhalla NY.
  • The property is a three-story steel frame suburban Class-B office building located near I-287 intersection.
  • Capstone obtained the deed to the property within six weeks of acquiring the note.
  • The property was 65.6% occupied at the time of acquisition with 340 available parking spaces.
  • The property underwent an extensive renovation in 2007-2008 with newly built features such as lobby, elevators, and partial renovated bathrooms and upper lobbies.
  • The building was renovated as follow:
    • HVAC energy management systems were upgraded
    • Vacant space, common areas, and lobbies were redesigned.
Asset Class Office
Property Size 105,000 SF
Investment Status Long Term Hold
Realized Deal IRR 27%
Forecast Deal EM 1.5X
Year Acquired 2012

Fill out the contact form to get in touch with us