PORT CHESTER, N.Y. — KABR Group has acquired 1 North Main Street in Port Chester for $30.7 million. The seller was an entity affiliated with G&S Investors and Robert Martin Co., which developed the 209-unit property between 2020 and 2022. The JLL Capital Markets team representing the seller was led by Jose Cruz, Jeffrey Julien, Steve Simonelli and Austin Pierce. The asset features five stories of market-rate apartments and 7,630 square feet of ground-floor retail. The new owners will be party to a PILOT (Payment In Lieu Of Taxes) agreement with the City of Port Chester, which provides long-term tax advantages. The property is located in a Qualified Opportunity Zone. Units are offered as studios and one- and two-bedroom floor plans. Ari Klein at Webster Bank was the lender.
G&S Investors and Robert Martin Co. developed 1 North Main Street in Port Chester, N.Y., between 2020 and 2022. The partners have sold the asset to KABR Group for $30.7 million.
KABR Group Buys Port Chester, New York, Property for $30.7 Million
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