MORRISTOWN, N.J., Dec. 17, 2025 – JLL Capital Markets announced today that it has arranged KABR Group’s $30.675 million acquisition of 1 North Main Street, a newly constructed mixed-use multifamily and retail development located in the heart of Port Chester, New York.

The acquisition was facilitated by JLL Capital Markets, which represented the seller, an entity affiliated with G&S Investors and Robert Martin Company, which developed the property between 2020 and 2022. KABR Group acquired the asset as part of its strategy to further expand the firm’s multifamily presence in established downtown markets in the New York metropolitan area.

The JLL team was led by Senior Managing Directors Jose Cruz, Jeffrey Julien and Steve Simonelli and Director Austin Pierce.

The $30.675 million transaction underscores KABR Group’s commitment to investing in vibrant, transit-oriented communities and signals a new chapter in the revitalization of downtown Port Chester. The deal was financed by the Ari Klein team at Webster Bank, further demonstrating strong institutional support for the project. 1 North Main Street, completed in 2022, features five stories of market-rate apartments and 7,630 square feet of ground-floor retail, ideally situated less than 350 feet from the Port Chester Metro North Station and directly across from The Waterfront at Port Chester, a premier retail destination.

1 North Main Street benefits from a PILOT (Payment In Lieu Of Taxes) agreement with the City of Port Chester, providing long-term tax advantages and supporting the property’s financial stability.

“1 North Main Street represents a unique opportunity to acquire brand new construction in an undersupplied yet rapidly growing market,” said Cruz. “The property's location within a Qualified Opportunity Zone, combined with its transit-oriented positioning and long-term tax benefits, made it an attractive asset for investors seeking stable cash flow and growth potential.

“KABR Group is excited to be part of Port Chester’s renaissance,” said Ken Pasternak, Chairman of KABR Group. “This acquisition is a testament to our belief in the future of downtown Port Chester and our commitment to taking newly constructed multifamily buildings to the next level—delivering exceptional living experiences and supporting the growth of dynamic urban communities.”

1 North Main Street offers residents superior transit connectivity, with direct Metro North access to Grand Central Station in just 40 minutes, and immediate proximity to I-95 and I-287 for seamless travel throughout the tri-state area. The property boasts a Walk Score of 97, earning a “Walker’s Paradise” designation, and is surrounded by strong demographics, including an average household income of $192,863 and an average home value of $1,154,475 within a five-mile radius.

1 North Main Street’s diverse unit mix includes studio, one-, and two-bedroom apartments, all market-rate, designed to capture peak rents in Port Chester’s strengthening rental market.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500 company with annual revenue of $23.4 billion and operations in over 80 countries around the world, our more than 113,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY^SM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com. 

KABR Group, founded in 2008 by Ken Pasternak and Adam Altman, specializes in the investment, management, and development of commercial real estate across value-added, opportunistic, distressed debt, special situations, and ground-up development strategies. With over $300 million in equity capital raised and more than 100 assets acquired, KABR continues to shape the future of urban living.

For more information about KABR Group and its portfolio, please visit https://www.kabrgroup.com.