Q2 2012 Westchester, New York Office Property Sales Analysis

CRE Resources

View our Westchester, New York Submarket Map

Q2 2012 Westchester, New York Office Property Sales Analysis


There have been only two small qualifying single property office investment sales in Westchester in 2012, both of which took place in the second quarter.* The dollar value of the sales was just $4.2 million, with a mean price of $107 psf and a mean cap rate of 8.1%. The rolling 12 month cap rate, based on six small sales was 8.7%, slightly lower than recent readings. This is not a large market, and one with many owner-occupied buildings, so sales activity may be expected to be somewhat limited. But the 281,920 square feet sold over the past four quarters is less than 1.0% of the inventory, implying a 110 year average holding period.