RM Friedland has announced it is marketing Berkeley College’s Westchester campus at 99 Church Street in downtown White Plains.
Berkeley is closing its operations in Westchester County and consolidating to its New York City location. The property features two detached buildings, a four-story, 110,000-square-foot office building with full basement at 99 Church Street and a six-story dormitory style residential building at 6 Cottage Place with 55 dormitory units that have 140 beds.
The office building, which is owned by Berkeley 99 Church Street LLC and formerly occupied by Berkeley College, is partially leased. The building is ideal for an institutional user who may also need the dormitory units in the residential building, equally attractive to a developer as the nearly one-acre site could accommodate an estimated 136,000 sf of new development assuming the demolition of all existing buildings and could also be attractive to a value-add investor as the office building currently has four tenants leasing a total of 24,103 square feet of space.
“This outstanding property offers a wide range of benefits for a purchaser including an excellent location in the Central Business District, easy access to mass transit, great demographics and a rare opportunity to be part of the momentum of a vibrant and booming downtown,” said John Barrett of RMF’s Investment Division. “This property could be perfectly suited for repurposing, a trend which has become a prominent one in the Westchester office market,” added Chris O’Callaghan of RMF’s office division.
RM Friedland, which celebrated its 50th anniversary last year, is the largest commercial real estate brokerage company in Westchester County.