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Luxury High-Rise Apartments-Development! 208-216 King St

185 Unit Apartment Building For Sale Port Chester, NY 10573

INVESTMENT HIGHLIGHTS

  • Opportunity to purchase outright a fully approved 185-unit apartment development within steps of Metro-North access. A rare YTC 7.59%!
  • Property Amenities will include on-site parking, a shared rooftop deck, a pool, a tenant-exclusive lounge, a fitness center, and more.
  • 2% commission paid to cooperating Seller's Broker upon successful closing!
  • Benefit from a suburban location within 30 minutes of New York City, near dining, shopping, the Capitol Theater, and the waterfront.
  • 208-216 King Street site sits within a federal Qualified Opportunity Zone (QOZ) and is ideal for a 1031 exchange.

EXECUTIVE SUMMARY

208-216 King Street presents a premier opportunity to purchase a fully approved multi-family development at a pedestrian-friendly location in Westchester County, New York. The fully approved 185-unit apartment building site is located just under 400 feet from the Metro North train station and is in a federal Opportunity Zone. Ownership is seeking a qualified developer buyer for a sale.

Featuring a mixed-material façade with bright gray and red brick and dark gray cladding, the building will contain 36 studio units, 58 one-bedroom units, 80 two-bedroom units, and 11 three-bedroom units. Tenants will have access to more than 13,000 square feet of amenity spaces when complete, including a pool, a partially shaded roof deck, a top-floor lounge, coworking spaces, a fitness center with a yoga room, a flexible conference room for events and gatherings, and a dog run. An on-site parking garage for up to 152 vehicles and 47 bicycle docks will also be available.

Port Chester blends urban lifestyles with suburban conveniences just 30 minutes north of New York City. The village is known for its thriving waterfront cityscape, six family-oriented outdoor parks, and top-shelf entertainment options like the renowned Capitol Theater. North Main Street, only a few minutes walk from King Street, provides the heartbeat of the community with numerous dining, shopping, and service options. An affluent population of over 652,500 residents lives within a 10-mile radius, representing an average household income of approximately $153,920 annually. Capitalize on this incredible opportunity to develop an unrivaled multi-family destination where housing demand far outpaces supply in a place known for its growth, flourishing quality of life, and economic success.

FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access

ANNUAL (CAD) ANNUAL PER SF (CAD)
Gross Rental Income $99,999 $9.99
Other Income $99,999 $9.99
Vacancy Loss $99,999 $9.99
Effective Gross Income $99,999 $9.99
Taxes - -
Operating Expenses - -
Total Expenses $99,999 $9.99
Net Operating Income $99,999 $9.99

FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access

Gross Rental Income (CAD)
Annual $99,999
Annual Per SF $9.99
Other Income (CAD)
Annual $99,999
Annual Per SF $9.99
Vacancy Loss (CAD)
Annual $99,999
Annual Per SF $9.99
Effective Gross Income (CAD)
Annual $99,999
Annual Per SF $9.99
Taxes (CAD)
Annual -
Annual Per SF -
Operating Expenses (CAD)
Annual -
Annual Per SF -
Total Expenses (CAD)
Annual $99,999
Annual Per SF $9.99
Net Operating Income (CAD)
Annual $99,999
Annual Per SF $9.99

PROPERTY FACTS

Sale Type Investment
Sale Conditions
1031 Exchange
  • Build to Suit
  • Redevelopment Project
No. Units 185
Property Type Multifamily
Property Subtype
Apartment
  • Multifamily Dormitory
Apartment Style Hi-Rise
Building Class B
Lot Size 0.59 AC
Construction Status Proposed
Building Size 221,800 SF
No. Stories 12
Year Built 2027
Parking Ratio 0.69/1,000 SF
Opportunity Zone Yes

UNIT AMENITIES

  • Air Conditioning
  • Dishwasher
  • Washer/Dryer
  • Heating
  • Kitchen
  • Refrigerator
  • Oven
  • Tub/Shower
  • Freezer

SITE AMENITIES

  • 24 Hour Access
  • Business Center
  • Controlled Access
  • Concierge
  • Fitness Center
  • Laundry Facilities
  • Pool
  • Property Manager on Site
  • Pet Play Area
  • Bicycle Storage
  • Conference Rooms
  • Elevator
  • Lounge
  • Sundeck

UNIT MIX INFORMATION

DESCRIPTION NO. UNITS AVG. RENT/MO SF
Studios 36 $43,093 CAD 450 - 625
1+1 58 $54,670 CAD 700 - 703
2+2 80 $82,797 CAD 988 - 1,077
3+2 11 $108,067 CAD 1,215 - 1,281
Walk Score®
Walker's Paradise (94)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
4801-142-000-00022-002-0065-0000000
Land Assessment
$274,584 CAD (2023)
Improvements Assessment
$927,994 CAD (2023)
Total Assessment
$1,202,578 CAD (2023)

ZONING

Zoning Code CD-6 (Residential Multi-Family)
CD-6 (Residential Multi-Family)
  • Listing ID: 27417834

  • Date on Market: 2023-01-02

  • Last Updated:

  • Address: 208-216 King St, Port Chester, NY 10573

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