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208 King St - Fully Approved for 185 Apartments -Prime TOD 0.57 Acres of Residential Land in Port Chester, NY 10573
INVESTMENT HIGHLIGHTS
- Transit Oriented Development located in Opportunity Zone: QOZ with potential tax advantages
- Unit Mix: 185 luxury apartments (40 studios, 54 1BR, 80 2BR, 11 3BR)
- Premium Amenities: Rooftop deck, clubroom/lounge, yoga and fitness rooms, dog run, and conference center
- Shovel-Ready: Full site plan amendment approved by Port Chester Planning Commission (Sept. 2025)
- Parking: 185-space self-park garage (no stackers) + 47 indoor bike spaces
- A rare 7.37% Yield On Cost!
EXECUTIVE SUMMARY
Rare Transit-Oriented Development with Full Entitlements in a Qualified Opportunity Zone
208–216 King Street presents a fully approved, shovel-ready multifamily development in the heart of Port Chester, NY. This 185-unit luxury project sits less than 400 feet from the Metro-North station, offering exceptional transit connectivity and unbeatable access to NYC, southern New England, and the Hudson Valley.
The project’s amended design delivers major upgrades: mechanical stackers have been replaced with a 1:1 self-parking garage (185 spaces), and streamlined construction methods minimize SOE requirements, improving efficiency while maintaining the project’s premium design and 12-story height.
This development caters to a wide range of residents—young professionals, families, and empty nesters—seeking Westchester’s upscale lifestyle without ownership burdens. With luxury amenities including a rooftop deck, club lounge, yoga/fitness studios, dog run, and conference center, this property is primed to capture strong rental demand in a market where housing supply remains tight.
Project Highlights
Transit-Oriented Location: ~391 ft to Metro-North; steps to bus stops; minutes to I-95, I-287, and Westchester County Airport
Shovel-Ready: Full site plan amendment approved by Port Chester Planning Commission (Sept. 2025)
Unit Mix: 185 luxury apartments (40 studios, 54 1BR, 80 2BR, 11 3BR)
Square Footage: 247,874 SF | Height: 12 stories
Parking: 185-space self-park garage (no stackers) + 47 indoor bike spaces
Affordable Housing: 19 units (10%)
Premium Amenities: Rooftop deck, clubroom/lounge, yoga and fitness rooms, dog run, and conference center
Location Benefits: Steps from vibrant downtown retail and dining; access to NYC and tri-state region
Opportunity Zone: Located in a QOZ with potential tax advantages*
Offering: Development rights with full entitlements – shovel-ready project
Land Summary
Lot Size: 0.57 acres
Zoning: Approved for luxury multifamily residential
Builder’s Advantage: Optimized construction plan with minimized SOE, increasing efficiency. An Attractive 7.3 YOC!
*QOZ benefits depend on investor eligibility and current law; buyers should seek professional guidance.
*Broker Participation is Protected!
208–216 King Street presents a fully approved, shovel-ready multifamily development in the heart of Port Chester, NY. This 185-unit luxury project sits less than 400 feet from the Metro-North station, offering exceptional transit connectivity and unbeatable access to NYC, southern New England, and the Hudson Valley.
The project’s amended design delivers major upgrades: mechanical stackers have been replaced with a 1:1 self-parking garage (185 spaces), and streamlined construction methods minimize SOE requirements, improving efficiency while maintaining the project’s premium design and 12-story height.
This development caters to a wide range of residents—young professionals, families, and empty nesters—seeking Westchester’s upscale lifestyle without ownership burdens. With luxury amenities including a rooftop deck, club lounge, yoga/fitness studios, dog run, and conference center, this property is primed to capture strong rental demand in a market where housing supply remains tight.
Project Highlights
Transit-Oriented Location: ~391 ft to Metro-North; steps to bus stops; minutes to I-95, I-287, and Westchester County Airport
Shovel-Ready: Full site plan amendment approved by Port Chester Planning Commission (Sept. 2025)
Unit Mix: 185 luxury apartments (40 studios, 54 1BR, 80 2BR, 11 3BR)
Square Footage: 247,874 SF | Height: 12 stories
Parking: 185-space self-park garage (no stackers) + 47 indoor bike spaces
Affordable Housing: 19 units (10%)
Premium Amenities: Rooftop deck, clubroom/lounge, yoga and fitness rooms, dog run, and conference center
Location Benefits: Steps from vibrant downtown retail and dining; access to NYC and tri-state region
Opportunity Zone: Located in a QOZ with potential tax advantages*
Offering: Development rights with full entitlements – shovel-ready project
Land Summary
Lot Size: 0.57 acres
Zoning: Approved for luxury multifamily residential
Builder’s Advantage: Optimized construction plan with minimized SOE, increasing efficiency. An Attractive 7.3 YOC!
*QOZ benefits depend on investor eligibility and current law; buyers should seek professional guidance.
*Broker Participation is Protected!
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL (CAD) | ANNUAL PER AC (CAD) |
|---|---|---|
| Gross Rental Income |
$11,187,276
|
$19,626,799.19
|
| Other Income |
$921,331
|
$1,616,370.38
|
| Vacancy Loss |
$726,515
|
$1,274,588.14
|
| Effective Gross Income |
$11,382,091
|
$19,968,581.43
|
| Taxes |
$186,756
|
$327,642.64
|
| Operating Expenses |
$2,234,159
|
$3,919,576.82
|
| Total Expenses |
$2,420,915
|
$4,247,219.47
|
| Net Operating Income |
$8,961,176
|
$15,721,361.97
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $11,187,276 |
| Annual Per AC | $19,626,799.19 |
| Other Income (CAD) | |
|---|---|
| Annual | $921,331 |
| Annual Per AC | $1,616,370.38 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $726,515 |
| Annual Per AC | $1,274,588.14 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $11,382,091 |
| Annual Per AC | $19,968,581.43 |
| Taxes (CAD) | |
|---|---|
| Annual | $186,756 |
| Annual Per AC | $327,642.64 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $2,234,159 |
| Annual Per AC | $3,919,576.82 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $2,420,915 |
| Annual Per AC | $4,247,219.47 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $8,961,176 |
| Annual Per AC | $15,721,361.97 |
PROPERTY FACTS
1 LOT AVAILABLE
Lot
| Lot Size | 0.57 AC |
| Lot Size | 0.57 AC |
Prime, fully entitled multifamily development in a pedestrian-friendly Westchester location—just 30 minutes north of NYC and 391 feet from Metro-North. Amended approval features a 1:1 self-parking garage (185 spaces) and improved constructability.
DESCRIPTION
To be built
1 1
Walk Score®
Walker's Paradise (93)
PROPERTY TAXES
| Parcel Numbers | Total Assessment | $2,140,366 CAD (2024) | |
| Land Assessment | $953,702 CAD (2024) | Annual Taxes | $186,756 CAD |
| Improvements Assessment | $1,186,663 CAD (2024) | Tax Year | 2025 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$953,702 CAD (2024)
Improvements Assessment
$1,186,663 CAD (2024)
Total Assessment
$2,140,366 CAD (2024)
Annual Taxes
$186,756 CAD
Tax Year
2025
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208 King St - Fully Approved for 185 Apartments -Prime TOD
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