With Two New Deals, Caspi Development and Faros Properties Bring 120 Bloomingdale Road Occupancy to Ninety-Seven Percent

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Posh amenities and extensive renovations continue to attract eager tenants

Front view of the newly-renovated offices at 120 Bloomingdale Road, White Plains, NY.

Our goal was to reimagine and transform office space in Westchester County, which has been accomplished with the success of 120 Bloomingdale Road

Having closed two new deals at the luxury office complex at 120 Bloomingdale Road, metro New York real estate firms Caspi Development and Faros Properties have reached a remarkable milestone: Ninety-seven percent occupancy. The impressive occupancy rate is driven by stylish, modern amenities and extensive renovations to the 145,000-square-foot building that previously served as the Nestlé headquarters.

"We set out to create a space that rivals luxury offices found throughout Manhattan and San Francisco but would be available to businesses in Westchester at a competitive price," said Alexander Leventhal, co-founder and Managing Partner of Faros Properties. “We're thrilled to see it has become such an in-demand space for professionals in the area."

The two newest tenants are Mittman & Lever Leasing, LTD – which will occupy approximately 8,000 rentable square feet on the fourth floor and 3,000 square feet of outdoor terrace space – and Santangelo & Rodriguez, P.C., which will occupy more than 600 square feet on the third floor. The long-term lease deals were brokered by Goldstein & Associates Realty, Inc.

Tenants of 120 Bloomingdale Road will have access to a range of world-class amenities developed by Caspi and Faros, including a sprawling gym space featuring high-end exercise equipment and 50” LED TVs, a private roof deck and cutting-edge remote conferencing technology. The building also includes a gourmet café that will serve quality, health-conscious food options. The cafe is operated by Marc Tessitore, owner of Port Chester, NY’s Nessa. The several-million-dollar renovations were designed by Gallin Beeler Design Studio in Tarrytown, NY.

"Our goal was to reimagine and transform office space in Westchester County, which has been accomplished with the success of 120 Bloomingdale Road," said Joshua Caspi, Principal of Caspi Development. "We pride ourselves in delivering incomparable service and amenities to our tenants, and look forward to having the building at full occupancy.”

Caspi Development and Faros Properties general contract all of the renovations and improvements that take place at 120 Bloomingdale Road, allowing the companies to facilitate and maintain quality control and costs associated with all projects. Because of this, tenants have the ability to work with management to customize their space to meet their specific office needs.

Professional tenants interested in relocating to 120 Bloomingdale Road can contact Richard Goldstein of Goldstein & Associates Realty, Inc. at (914) 421-0444 or richard(AT)rcgoldstein.com.

About Caspi Development, LLC:
Caspi Development has been a leader in ownership, management and development of residential and commercial real estate for more than 40 years. Based in Purchase, NY, the company is known for its diversity and ability to respond to market conditions and capitalize on opportunities. Over the last few years, the company has acquired through joint venture approximately 1,600 apartments in New York City. Most recent Caspi Development projects include 456 Greenwich Street in Tribeca a 100 room 5 star luxury hotel and 30,000 feet of restaurants and amenities and 161 Bowery a 25,000 foot office building built out for high end boutique tech tenants. Caspi owns and manages several million square feet of multifamily, office and hotel in and around the New York Metropolitan area.

About Faros Properties, LLC:
Faros Properties is a New York City-based real estate investment firm established by Alexander Leventhal, Jeremy Leventhal and Elliot Gould as a platform to target long-term private investment opportunities. Faros primarily targets core and value-add investments in supply-constrained markets with high concentrations of intellectual capital. Faros and its predecessor companies trace their roots to successful family-owned operations. The family has for over six decades been actively involved in the construction, development, acquisition, management and financing of over 50 million square feet of real estate internationally.

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Lisa Santacruz
Co-Communications, Inc.
+1 (914) 666-0066
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