Andrew Greenspan, principal of GHP Office Realty of WhitePlains, says, "The building has been vacant for some time and is inpoor condition." Improvements planned by the ownership include anew energy-efficient roof, mechanical systems and curtail wall. GHPwill also make a contribution to the tenant improvements to beundertaken by Fordham University to convert the space to classroomuse, he adds. GHP Office Purchasing LLC is an entity controlled byGHP Office Realty and locally based Benerofe Properties.

GHP is currently before the Harrison Town Board seeking aclarification in the property's zoning that would allow forhigher-educational use at the class B building. Fordham University,which has put its 25-acre Marymount Collegecampus in Tarrytown on the market for sale, had looked at 32 sitesthroughout Westchester County before deciding on the Harrisonbuilding. GHP Office Realty's parent, Houlihan-Parnes iCap Realty,served as Fordham's tenant representative in its search for newspace.

The 400 Westchester Ave. building was part of the purchase of anearly 1.7 million-sf portfolio of Verizon Communicationsindustrial and office space in eight states by GHP OfficePurchasing in June of this year. Local sources valued the deal atapproximately $150 million.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.