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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 |
$11,242,994
|
$19,724,550.67
|
| Other Income |
$925,920
|
$1,624,420.73
|
| Vacancy Loss |
$730,134
|
$1,280,936.24
|
| Effective Gross Income |
$11,438,780
|
$20,068,035.17
|
| Taxes |
$187,686
|
$329,274.47
|
| Operating Expenses |
$2,245,286
|
$3,939,098.32
|
| Total Expenses |
$2,432,972
|
$4,268,372.79
|
| Net Operating Income |
$9,005,808
|
$15,799,662.38
|
Financial Summary (Pro Forma - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $11,242,994 |
| Annual Per AC | $19,724,550.67 |
| Other Income (CAD) | |
|---|---|
| Annual | $925,920 |
| Annual Per AC | $1,624,420.73 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $730,134 |
| Annual Per AC | $1,280,936.24 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $11,438,780 |
| Annual Per AC | $20,068,035.17 |
| Taxes (CAD) | |
|---|---|
| Annual | $187,686 |
| Annual Per AC | $329,274.47 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $2,245,286 |
| Annual Per AC | $3,939,098.32 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $2,432,972 |
| Annual Per AC | $4,268,372.79 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $9,005,808 |
| Annual Per AC | $15,799,662.38 |
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
Moderately walkable
70/100
Exceptionally drivable
90/100
Strong public transit
80/100
Somewhat bikeable
30/100
1 of 2
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208 King St - Fully Approved for 185 Apartments -Prime TOD
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