48 First Street

Pelham, NY

• Ownership originally acquired vacant 6,500 SF two-story warehouse built in 1924 in September 2017.

• Secured full site plan approval twice (first approval expired due to Covid delays), most recently as of April 2023.

• Subsequently demolished the existing vacant warehouse.

• Received a building permit from the Village of Pelham in mid-2025 and have commenced with site work and excavation.

• Project will be ground-up construction of eight upscale, two-bedroom multifamily rental units with at-grade parking garage.

• Ownership using modular construction company Simplex Modular, Scranton, PA.

• Pelham is the southern most village in Westchester County, a 30-minute train ride to Grand Central Station in Midtown Manhattan.

• The Property is located three blocks from the Pelham Metro North Railroad station and Downtown shops and restaurants; one mile from Hutchinson River Parkway