Updated Mar 13, 2025
Scher Family Acquires Development Site From Phil Capeci In Port Chester For $900,000
74 Grace Church Street
$900,000
$111/SF
Building Size
8,055 SF
Asset Type
Development Site
Closing
Feb 19, 2025
About this deal
AI
A development site located at 74 Grace Church Street in Port Chester has been sold. The sale price for the asset was $900,000, which translates to approximately $111 per square foot for a total area of 8,055 square feet.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $900,000
- Address: 74 Grace Church Street
- Market: Port Chester
- Square Footage: 8,055
- Price per Square Foot: $111
- Buyer: Scher Family
- Seller: Phil Capeci
- Broker: Matthew Barbaccia - Brix Real Estate Advisors
The transaction involved the Scher Family as the buyers and Phil Capeci as the sellers, with Matthew Barbaccia from Brix Real Estate Advisors representing the broker in this deal.
Port Chester Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
17.63%
Cash-on-Cash
-5.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93