Updated Feb 23, 2026
Howie Ravikoff Purchases Industrial Property At 40 Merritt Street Port Chester For $4,000,000
40 Merritt Street
$4,000,000
$199/SF
Building Size
20,094 SF
Asset Type
Industrial
Closing
Feb 13, 2026
About this deal
AI
A two-story industrial property, situated at 40 Merritt Street in Port Chester, NY, has been sold for $4,000,000. The total size of the asset is 20,094 square feet, translating to a price per square foot of approximately $199.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $4,000,000
- Buyer: Howie Ravikoff
- Seller: Matthew Shivley
- Buyer’s Representative: Mike Rackenberg - Houlihan Lawrence Commercial
- Seller’s Representative: Robert Lella - Colliers International
The transaction involves RPM LLC as the buyer represented by Mike Rackenberg, while Whatcha Making LLC is the seller represented by Robert Lella. This successful deal showcases the collaboration between the brokers involved in facilitating this industrial property transaction in a competitive market.
On the Map
$4,000,000
$199/SF
Industrial
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Port Chester Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.97%
Cash-on-Cash
-1.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93