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Truist Bank Provides $66 Million Construction Loan For 203-Unit Multifamily Project In Port Chester
FINANCED
$66,000,000
New York
See Similar DealsMultiFamily
Financed 02/23/2026
FINANCED
Truist Bank Provides $66 Million Construction Loan For 203-Unit Multifamily Project In Port Chester
70 Abendroth Avenue
See Similar DealsMultiFamily
Financed 02/23/2026
Summary
NEW YORK
Asset Type:MultiFamily
Transaction Type:Loan
A construction loan of $66 million has been secured for a 203-unit multifamily project located at 70 Abendroth Avenue in Port Chester. The project is developed by Hudson Companies, which is led by landlord Aaron Koffman.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $66,000,000
- Loan Type: Construction
- Lender: Truist Bank
- Landlord: Aaron Koffman - Hudson Companies
- Address: 70 Abendroth Avenue
- Market: Port Chester
- Units: 203
- Brokers: John Alascio & Chuck Kohaut - Cushman & Wakefield
The transaction involved key individuals including Aaron Koffman, representing Hudson Companies, and brokers John Alascio and Chuck Kohaut from Cushman & Wakefield, who facilitated the loan arrangement with Truist Bank for this construction project.
Players
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$66,000,000.00
Monthly NOI$440,000.00
Monthly Debt Service$417,164.90
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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