Truist Bank Provides $66M Construction Loan To Hudson Companies For Development Site In Port Chester

The property asset involved in this transaction is a development site located at 70 Abendroth Avenue in Port Chester, NY. The site will host a six-story, 203-unit multifamily project that includes 10% affordable housing and approximately 10,000 square feet of ground-floor retail space.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $66,000,000
• Lender: Truist Bank
• Landlord: David Kramer - Hudson Companies
• Brokers: John Alascio & Chuck Kohaut - Cushman & Wakefield
• Loan Type: Construction

The key individuals involved in this transaction include David Kramer, who represents Hudson Companies as the landlord. Additionally, John Alascio and Chuck Kohaut from Cushman & Wakefield serve as the brokers facilitating this deal.