9W Bike Shop Property, Franklin Avenue Mixed-Use, Madison Avenue Acreage All Sell; Myrtle Avenue redevelopment continues

RCBJ-Audible (Listen for free)

DeMan Motor Sports acquires 9W bike shop in Upper Nyack

9W Bike ShopRick DeMan of Deman Motor Sports, at 700 Bradley Hill Road in Blauvelt, has purchased the former location of the 9W Bike Shop on North Highland Avenue (Route 9W) in Upper Nyack. The 1.44 acre lot at 530 North Highland Avenue includes a 4,050 square foot building built in 1970.

The buyer paid $1.3 million for the property and plans to move his business from 700 Bradley Hill Road to Blauvelt.

Matthew Poole of SSM Holdings LLC was the seller. Poole bought the property in 2017 for $650,000. The bike shop was previously known as Toga Nyack and later as Piermont Connection.

DeMan Motorsport is a full-service Porsche facility that caters to street and race cars.

Nyack mixed-use properties sell for $1.9 million

40-42Franklin NyackThe mixed-use buildings at 40-42 South Franklin Street in Nyack have been sold for $1.9 million to Leon Vedovato of Scarsdale-based Westchester Tile & Marble.

The commercial building on 0.05 acres on the southwest corner of Depew & South Franklin houses the Corner Frame Shop (opened 2009) at 40 South Franklin and Hudson Spectacles at 42 South Franklin. Both tenants plan to stay and have leases in place.

The property was acquired as a real estate investment, according to Vedovato, and not as a location for a Tile & Marble store outlet.

Residential apartments above retail include studios and larger units ranging from $1,000 to $2,200 per month. The original list price for the property was $2,095,000. The seller, Dreisam, Inc. purchased the property in 2002 for $430,000.

Madison Avenue buildable land in Garnerville sells for $1.3 million

MadisonAvenueGarnervilleLots at 45, 75 and 55-63 Madison Avenue in Garnerville in the City of Haverstraw, which feature residential units, were sold last week to All Madison, LLC, a Monsey-based single-family home developer. The combined 4.94-acre parcels sold for $1.3 million.

Joel Salamon, the director of All Madison, LLC, said he has not yet developed a plan for the property, but will likely subdivide the property into buildable lots and build homes.

The 4.94-acre, 215,186-square-foot-equivalent property sits in an R-15 (Medium Density Residence District), which allows single-family residential homes on lots of at least 15,000 square feet. This would allow 15 units, before special deviations or permits would be required for greater density.

The seller of the property was the Estate of Sarah Raymond, through her executors.

Myrtle Avenue redevelopment continues unabated

Myrtle AvenueMoses Friedman of Johnson Manor Development, LLC acquired the properties located at 33 and 37 North Myrtle Avenue in Spring Valley for $2.9 million.

Freidman plans to subdivide the property and build a yet-to-be-determined number of two-family homes. The property, approximately two-thirds of an acre, is located in the R-2 medium density zone which allows for two-family dwellings on 10,000 square foot lots. A derogation or a special permit would allow denser development.

Moses Friedman is also the director of Dynamic Builders & Developers Inc. of Spring Valley and has a project planned for 101 South Madison Avenue in Spring Valley.

The acquisition of the property was financed by the Northeast Community Bank of White Plains for the amount of $1,620,000.

Also on Myrtle Avenue at 22, 24, and 26 are several gated country homes and truck parking, totaling 76,465 square feet (1.76 acres) to be redeveloped by another developer. A special permit will allow the construction of multi-family dwellings. Three independent four-storey buildings are planned, comprising 20 two-bedroom apartments, 30 three-bedroom apartments and 30 four-bedroom apartments.