CBRE announces sale of The Lighthouse
July 22, 2021 at 8:20 a.m.
On July 19, CBRE, the world’s largest commercial real estate services and investment firm, announced the sale of The Light House, a 50-unit multi-family community located at 120 N. Pearl St. in Port Chester. The CBRE team of Jeffrey Dunne, Gene Pride, Eric Apfel, Jeremy Neuer, Steve Bardsley and David Gavin represented the owner, Lighthouse Living.
Lighthouse Living has approvals to develop another mixed-use, multi-family building on the block surrounded by North Main Street, Mill Street, Abendroth Avenue and Highland Street where demolition is slated in the coming weeks.
Built in 2016, The Light House offers tenants amenities that include a sun deck, pool, grilling area, fitness room, resident lounge, business center, virtual doorman, and covered parking. Apartments feature quartz countertops, plank flooring, oversized windows and bathrooms with designer finishes.
“We are pleased to have represented Lighthouse Living in the sale of this property,” said Dunne. “They did a fantastic job developing this exceptional asset that is one of the premier small apartment buildings in Westchester.”
“Port Chester and lower Westchester County continue to be highly attractive to renters and investors in the current market,” added Pride. “The Light House is performing extremely well in the current ‘work-from-home’ environment and is exceptionally well positioned to continue strong operations as workers increasingly return to the office given the proximity to the Metro-North station. The buyer will do well with this investment.”
CBRE would not disclose the buyer or the price of sale.
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