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 2024, the firm reported revenue of $9.4 billion across its core service lines of Services, Leasing, Capital markets, and Valuation and other. Built around the belief that Better never settles, the firm receives numerous industry and business accolades for its award-winning culture. 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 2024, the firm reported revenue of $9.4 billion across its core service lines of Services, Leasing, Capital markets, and Valuation and other. Built around the belief that Better never settles, the firm receives numerous industry and business accolades for its award-winning culture. For additional information, visit www.cushmanwakefield.com.