SCARSDALE, N.Y. (Nov. 23, 2022) – The Village of Port Chester, N.Y., has approved a site-plan application for a 12-story, 185-unit apartment building at 208-216 King St., a pedestrian-friendly location convenient to downtown and steps away from Metro-North suburban trains, major bus stops and highways.

The property is within Port Chester’s Opportunity Zone, which provides benefits that include waiver of capital gains taxes. The approval includes certification that there will be no adverse environmental impact from construction.

“We are pleased that the Village has approved this application to build an attractive, luxury multifamily destination in an area where housing demand far outstrips supply,” said commercial real estate broker Rajeev Chennattu, who operates applicant Regency Port Chester JV LLC. “Westchester County is known for its growth and economic success, and this project will contribute to the community’s flourishing quality of life.”

Chennattu said Port Chester’s approval has been eagerly awaited since October 2021. He said he will be seeking a development partner to take over or co-develop the project.

Apartments will range from studios to three-bedroom units. Tenants will have access to 13,087 square feet of luxury amenities, which include a top-floor clubroom/lounge, co-working area, fitness area, yoga room, conference center and dog run, in addition to a rooftop amenity deck and pool. The development, on a little more than half an acre, will include 221,000 square feet, 152 vehicle parking spaces and 47 interior parking spaces for bicycles. Nineteen units will be available as affordable housing.

Project team members include attorney Anthony B. Gioffre III of Cuddy & Feder LLP, architect Stuart A. Johnson, AIA, of Minno & Wasko Architects and Planners, and Bonnie VonOhlsen, AICP RLA, of Kimley-Horn Engineering and Landscape Architecture.

Regency Port Chester JV LLC is affiliated with Regency Commercial Real Estate, based in Scarsdale.

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Expert Advice on How to Successfully Navigate Turbulence to Drive Powerful Portfolios and Profit

Leading Real Estate Investor, Builder and Trends Analyst Available For Media Interviews

WHAT: Soaring mortgage rates have hit a 16-year high and commercial interest rates are skyrocketing. The culprits? Inflation, recession fears and the powerful risks of the unknown. But savvy investors and real estate brokers aren’t on the sidelines ducking for cover. They’re using their battle-tested experience and expertise to parse out value. They know what segments of commercial real estate are attractive now and will star moving forward, the pitfalls to avoid and the balance needed to achieve a smart, power-laden portfolio. In short, when economic headwinds blast in, these investors strategize shrewd moves that pay off in the short and long term. Today, they’re already positioning their clients to capitalize on commercial real estate investment in 2023 and beyond by putting their money where their mouth is and investing opportunistically. They do so by analyzing data and societal trends, inflation’s outlook on construction and rental prices and other key performance indicators.

WHO: Rajeev Chennattu, founder and owner of Regency Commercial Real Estate, has been a leading real estate investment adviser and broker for 35 years. He’s a multi-dimensional entrepreneur and deal maker who has successfully surfed all economic climates. He does so by specializing in creating and diversifying real estate portfolios, whether through acquisition or realigning holdings. His ability to anticipate trends, analyze market needs and identify opportunity are why he routinely seals complex deals and continues to successfully serve clients in numerous sectors. Plus, his success has been earned in Westchester County, N.Y., home to some of the most competitive, valuable and expensive real estate turf in the nation. But Chennattu also prizes that the art of his deals is anchored in a clear value proposition: a collaborative personal touch that cultivates long-term, profitable and successful client relationships.

WHY: Chennattu is available for media interviews on real estate data and market analysis, financing, income properties, industrial real estate, multi-family rental housing, land use, navigating municipal and regulatory approvals and more. His authoritative perspective and fact-based analysis also can be tapped to comment on news, trends and issues stories. Learn about Regency Commercial Real Estate and Chennattu’s previous deals at