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Hudson Companies Acquires Port Chester Development Site For $18M

Property Image
SOLD
$18,000,000
Ryan Dowd
Peter Welch
Niko Nicolaou
+ 2

New York

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Development Site56 SF
Sold 01/11/2022
the dealplayerscompscontact
Property Image
SOLD

Hudson Companies Acquires Port Chester Development Site For $18M

27 North Main Street, Port Chester, New York 10573, United States

See Similar Deals
Development Site56 SF
Sold 01/11/2022
Ryan Dowd
Peter Welch
Niko Nicolaou
+ 2
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$321,428
Total Square Footage:56 SF
Transaction Type:Sale

A development site located at 27-45 N Main St, 28 Adee St & 20-28 N Main St in Port Chester has been sold for $18,000,000. The buyer of the property is Hudson Companies, while Ivy Realty acted as the seller. The transaction was facilitated by the brokers Brian Whitmer, Niko Nicolaou, and Ryan Dowd from Cushman & Wakefield.

Summary of transation details

  • Property Type: Development Site
  • Transaction Amount: $18,000,000
  • Address: 27-45 N Main St, 28 Adee St & 20-28 N Main St
  • Market: Port Chester

The development site has a buildable square footage (BSF) of 258,813, resulting in a price per buildable square foot (PPBSF) of $70. The total square footage (SF) of the property is 56,623, with a price per square foot (PPSF) of $318.

Players

Brian Whitmer
RePropCo
Brian Whitmer
28 deals$1.6B volume(201) 508-5209
BROKER
John Alascio
Cushman & Wakefield
John Alascio
56 deals$5.3B volume
BROKER
Niko Nicolaou
Cushman & Wakefield
Niko Nicolaou
38 deals$2.2B volume(201) 426-2227
BROKER
Ryan Dowd
Cushman & Wakefield
Ryan Dowd
29 deals$2.4B volume(201) 508-5278
BROKER
Peter Welch
Cushman & Wakefield
Peter Welch
12 deals$719.6M volume
BROKER
Ivy Realty
Ivy Realty
BROKERAGE
Hudson Companies
Hudson Companies
BUYER
Ivy Realty
Ivy Realty
SELLER

Details

SOLD
IMAGE: Brian Whitmer, Niko Nicolaou, Ryan Dowd, John Alascio & Peter Welch DATE: 11/01/2022 ADDRESS: 27-45 N Main St, 28 Adee St & 20-28 N Main St MARKET: Port Chester ASSET TYPE: Development Site BUYER: Hudson Companies (@TheHudsonCos) SELLER: Ivy Realty (@Ivy.Realty) BROKERS: Brian Whitmer, Niko Nicolaou (@Niko_Nicolaou), Ryan Dowd (@RWDowd929, John Alascio & Peter Welch (@Peter_Welch) - Cushman & Wakefield (@CushWake) SALE PRICE: $18,000,000 BSF: 258,813 ~ PPBSF: $70 SF: 56,623 ~ PPSF: $318

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$960,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$63,950.20
Cash-on-Cash Return-1.27%
Monthly Debt Service$85,329.18
Annual Debt Service$1,023,950.20