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Prime Parcel In Piermont, Home To Otto’s Full Service Restaurant, Sells For $3.1 Million
505 Piermont Avenue LLC and Plan-B Piermont LLC sold the property at 505 Piermont Avenue in the Village of Piermont for $3.1 million. The buyer is Bronx-based MortPine Ventures LLC.
The 5,093 square foot building, sitting on .27 acres, is the home of Otto’s Full Service restaurant, which will remain operating at the site. According to the property offering, the 14,000 square foot lot could accommodate a three-story, mixed-use building with retail on the ground floor and apartments above.
The one-story building was constructed in 1932 and renovated in 2020.
Updates to Piermont’s zoning code are in flux, pending completion of its Comprehensive Plan and review of controversial amendments to its zoning code in the downtown corridor by a new administration after this year’s election.
The property was listed and sold by Hamid Moghadam of Ellis Commercial Realty in Nyack.
Plan-B Piermont LLC acquired a part of the road bed adjacent to 505 Piermont Avenue from the Village of Piermont in 2020 for $32,000. That parcel was sold along with the larger parcel.
Self-Storage Developer Purchases Thruway Plaza Condominium Parcel In Nanuet For $3.1 Million
Thruway Plaza of Rockland Associates sold a parcel at 286-330 West Route 59 in Nanuet to Scottsdae, AZ-based 286300NY59 NY Owner LLC. The sales price was $3.1 million.
The property is part of Gateway Commons of Nanuet.
The original plan for the project included a five-story 121-room Holiday Inn Express, a QuickChek with gas pumps, and the existing KFC/Taco Bell on the 6.6-acre site. Plans for the hotel were abandoned and the developers returned to the Town of Clarkstown for approval of a self-storage facility on the site.
Last month, the owners converted the property to condominium ownership and recorded a Condominium Declaration establishing the Gateway Commons of Nanuet Condominium. Along with the sale, the buyer is also acquiring a 44.7% interest in the common elements of the project.
According to the declaration, the property will house a 115,000 square foot, four-story self-storage facility and a cell tower.
The buyer is affiliated with 1784 Holdings, a real estate investment company with a nationwide portfolio of self-storage facilities.
Airmont Commercial Property Sells For $2,564,750
Airmont Properties LLC sold 12 North Airmont Road in Airmont to Growing Stars Center LLC. The sales price was $2,564,750.
The 8,680 square foot building, sitting on .63 acres, sold for $295 per square foot.
Airmont Properties purchased the commercial building in 2021 for $1.9 million.
New City Bank Building Sells For $1.575 Million
Torsoe Properties sold the former HSBC bank building at 219 South Main Street in New City for $1.575 million. The buyer is 219 South Main Street LLC affiliated with Howard Hellman of Hellman Properties.
The long-vacant bank building on South Main Street sits on .72 acres in the New City Hamlet H4 zone which allows for both residential and commercial use, in accordance with recent revisions to the Town of Clarkstown zoning code and Comprehensive Plan.
