Port Chester, NY – Cushman & Wakefield announced today that the real estate services firm has served as the exclusive advisor to The Hudson Companies in the procurement of $11,400,000 in acquisition and predevelopment financing for the Port Chester Main Street Development, a 1.1-acre site for mixed use development located at 27-45 North Main Street & Adee Street in Port Chester. The loan was provided by Provident Bank.
Cushman & Wakefield’s Equity, Debt & Structured Finance team of John Alascio, Chuck Kohaut, TJ Sullivan and Jason Blankfein represented the borrower in the transaction.
“Port Chester is a transit-oriented and vibrant city, with a growing number of renowned restaurants and cultural attractions,” said Alascio. “This development is ideally positioned to attract a wide array of residents looking to relocate to a dynamic downtown setting.”
The development site has approval for a six-story, 226,000-square-foot mixed-use development with 203 residential rental units, nearly 10,000 square feet of ground-level retail and commercial space and a community facility for the Human Development Services of Westchester. The development will also include structured off-street parking spaces.
The property is located minutes from Interstates 95 and 287 and offers direct access to Grand Central Terminal in under 40 minutes via the Metro-North Railroad New Haven Line.
Cushman & Wakefield Arranges $11.4M in Acquisition and Predevelopment Financing for Port Chester Main Street Development
Jayden Lapin-Tatman • 11/18/2022
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In 2023, the firm reported revenue of $9.5 billion across its core services of property, facilities and project management, leasing, capital markets, and valuation and other services. It also receives numerous industry and business accolades for its award-winning culture and commitment to Diversity, Equity and Inclusion (DEI), sustainability and more. For additional information, visit www.cushmanwakefield.com.
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In 2023, the firm reported revenue of $9.5 billion across its core services of property, facilities and project management, leasing, capital markets, and valuation and other services. It also receives numerous industry and business accolades for its award-winning culture and commitment to Diversity, Equity and Inclusion (DEI), sustainability and more. For additional information, visit www.cushmanwakefield.com.