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Purchase By Regeneron In Westchester Ranks Among Major Real Estate Deals

Last year's sale of 777 Old Saw Mill River Road in Tarrytown ranked 13th among real estate sales since 1995 outside of New York City, according to a new study.
Last year's sale of 777 Old Saw Mill River Road in Tarrytown ranked 13th among real estate sales since 1995 outside of New York City, according to a new study. Photo Credit: Google maps

Last year's $&20 million sale of the Landmark at Eastview at 777 Old Saw Mill River Road in Tarrytown -- which houses Regeneron's expanding operations -- ranks as of of the top 25 office or multifamily sales since 1995 of properties outside New York City, according to this research posted by CommercialCafe.com

The study focuses on the properties which stirred a lot of investor interest these past 20 years and have either sold for an exorbitant price tag or have changed hands several times. The $720 million sale of the Landmark at Eastview in Tarrytown was not only one of the top deals to close in 2017 but also one of the most significant transactions to close since 1995 on the East Coast.

Regeneron Pharmaceuticals Inc. paid $720 million to own its Tarrytown headquarters, in what proved to be one of the largest office deals of 2017. Biomed Realty acquired the sizeable Westchester science campus in 2007, for just $99 million, and have built several new facilities on the site since, mainly for Regeneron’s expanding operations.

Other highlights from the CommercialCafe.com report:

-- Chicago is home to the top-performing investment asset outside NYC - Willis Tower, selling thrice in 20 years and topping the $1 billion mark at its last sale date in 2015;

-- Boston boasts the best-selling buildings on the East Coast outside Manhattan, a total of 6 properties changed hands at record prices in Boston in the past 20 years;

-- Not only is San Francisco the only city in California to host some of the top-selling properties since 1995, it’s also home to the priciest asset sale on the West Coast: Parkmerced sold twice in 20 years and topped the $1 billion mark in 2014;

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