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Real Estate Watch: Tarrytown Centre, Kraft

Tarrytown Centre has changed hands and the Kraft complex hopes to soon.

Two big deals are either complete or underway this week:

Quietly and under everyone’s radar, the Tarrytown Centre complex changed hands from Acadia Realty to Kurtsam Realty to the tune of $12.8 million, or about $366 per square foot.

According to the CoStar Group commercial real estate information site:

124-134 Wildey is a single-story, 9,379-square-foot retail building built in 1956. 135-139 Wildey is a single-story retail building built in 1976. The center... was 94-percent leased at the time of the sale with Walgreen's as the anchor tenant. The property will be managed in-house by the new owner. 

The square footage totals about 35,000 square feet. Osaka Sushi is on the way soon. The former site of Van Tassel Cleaners (which moved across the plaza) remains empty. Between Walgreens and that other anchor McDonald’s, there is action here 24-7.

Kurtsam Realty Corp., founded in 1962, is a Westchester-based group, whose President and Chief Investment Officer is Joanne Landau of Croton-on-Hudson.

According to Landau’s online resume, “Kurtsam’s core properties consist of grocery-anchored neighborhood shopping centers and small commercial warehouse space. Valued near $100 million, Kurtsam and related companies focus on the affluent tri-state area outside of Manhattan.” 

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On the other end of the village, multiply this square footage by almost 10 and you have the 300,000 space up for sale (price unknown) of Kraft complex. Montefiore Hospital has signed an intent to purchase agreement, with the plans that they would fill half the space with over 800 of their Westchester-based employees and lease the other half to the Kraft employees already there.

This news comes on the heels of Kraft’s move within weeks of officially splitting into two companies for global snacks and North American groceries.

Stay tuned on this and other real estate action around town.

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Patricia September 22, 2012 at 01:28 PM
Does Montefiore receive a tax exempt status due to it being a "religious" hospital? I know it will be office space but it may be exempt from the tax roll. I was also wondering the same thing regarding the "old GM" training center which will be the site for the new JCC. I am happy to have both in the community but would like to know if they will be tax exempt.

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