Chappaqua Crossing, a mixed-use development in the affluent New York City suburb of Chappaqua, New York, has been sold for $76.5 million.
The property is situated between the Saw Mill Parkway and Route 117 and is the redevelopment of the former Reader’s Digest Headquarters, which encompasses 114-acres and includes over 500,000 square feet of medical/office space, 64 apartments, and 91 luxury townhomes recently completed by Toll Brothers. The retail aspect of the property is anchored by Whole Foods, Life Time Fitness, Starbucks and Chase Bank.
CBRE (NYSE: CBRE) represented the seller Heitman LLC in the transaction and procured the buyer, Barings, LLC.
“The sale of Chappaqua Crossing represented a unique opportunity to purchase a Whole Foods-anchored center in an incredibly high barriers-to-entry Westchester County market,” said CBRE Vice Chairman Jeffrey Dunn.
Photo courtesy of The Monroe Partnership
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