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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 | Annual Per AC |
|---|---|---|
| Gross Rental Income |
$8,086,914
|
$14,187,568.42
|
| Other Income |
$666,000
|
$1,168,421.05
|
| Vacancy Loss |
$525,174
|
$921,357.89
|
| Effective Gross Income |
$8,227,740
|
$14,434,631.58
|
| Taxes |
$135,000
|
$236,842.11
|
| Operating Expenses |
$1,615,000
|
$2,833,333.33
|
| Total Expenses |
$1,750,000
|
$3,070,175.44
|
| Net Operating Income |
$6,477,740
|
$11,364,456.14
|
Financial Summary (Pro Forma - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $8,086,914 |
| Annual Per AC | $14,187,568.42 |
| Other Income | |
|---|---|
| Annual | $666,000 |
| Annual Per AC | $1,168,421.05 |
| Vacancy Loss | |
|---|---|
| Annual | $525,174 |
| Annual Per AC | $921,357.89 |
| Effective Gross Income | |
|---|---|
| Annual | $8,227,740 |
| Annual Per AC | $14,434,631.58 |
| Taxes | |
|---|---|
| Annual | $135,000 |
| Annual Per AC | $236,842.11 |
| Operating Expenses | |
|---|---|
| Annual | $1,615,000 |
| Annual Per AC | $2,833,333.33 |
| Total Expenses | |
|---|---|
| Annual | $1,750,000 |
| Annual Per AC | $3,070,175.44 |
| Net Operating Income | |
|---|---|
| Annual | $6,477,740 |
| Annual Per AC | $11,364,456.14 |
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 | $1,547,200 (2024) | |
| Land Assessment | $689,400 (2024) | Annual Taxes | $135,000 |
| Improvements Assessment | $857,800 (2024) | Tax Year | 2025 |
Property Taxes
Parcel Numbers
Land Assessment
$689,400 (2024)
Improvements Assessment
$857,800 (2024)
Total Assessment
$1,547,200 (2024)
Annual Taxes
$135,000
Tax Year
2025
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208 King St - Fully Approved for 185 Apartments -Prime TOD
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