Ariel Property Advisors Arranges $1.3M Loan Closing for Office Building in Hartsdale, N.Y.

HARTSDALE, N.Y. — Ariel Property Advisors has arranged a $1.3 million loan on an office property located at 210 N. Central Ave. in Hartsdale. Ariel arranged the 4.5-year recourse loan at 4.4 percent for the 17-unit, 46,000-square-foot office property. Situated near White Plains, the building — originally an elementary school — was owned free and clear by a family and leased to Empire State College as its anchor tenant. Currently 55 percent occupied, Ariel also negotiated the option for an additional $1.6 million in proceeds once the property reaches a predetermined occupancy threshold.