New York & Tri-State + Fairfield/Westchester + CRE Insider | August 1, 2023

White Plains Residential Development Lands $15M in Construction Financing

Chester WP II, LLC, an affiliate of Keeler Markwood Group, has secured $15.25 million in construction financing from First County Bank to develop a 59,540-square-foot residential rental building in White Plains, New York.

Located at 8 Chester Avenue, the four-story building will comprise 74 rental units, formed by combining two properties, 6-8 Chester Avenue and 10 Chester Avenue.

Harris Beach PLLC represented the White Plains Industrial Development Agency. Lester Bleckner & Shaw LLP represented Chester WP II, LLC on everything related to the development, with Cuddy + Fedder LLP as co-counsel specifically on matters related to the IDA.

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Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money. With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.

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