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Brokerage
Posted: February 5, 2019
Mirante, Cottingham, and Pynn of Avison Young broker $3.2 million sale for Alexandrion Group
Carmel, NY According to Avison Young (AY), the firm has arranged the $3.2 million sale of a 12.75-acre development site located at 39 Seminary Hill Rd. in Putnam County.
Arthur Mirante, principal and tri-state president, Martin Cottingham, principal and Matt Pynn, associate, of AY arranged the sale on behalf of the buyer, Alexandrion Group, an international distiller. The seller was Hinckley Holdings, LLC & Covington Development, LLC.
The site includes a 136,000 s/f office and warehouse facility with parking and is part of a larger 50-acre campus. The buyer plans to build its first distillery in the U.S. on the site.
“The acquisition of this development site will prove to be a smart investment for the buyer,” said Mirante. “Before engaging Avison Young, the Alexandrion Group had been seeking a property that would serve as its first U.S. distillery facility for quite some time. After a prompt but careful search, we were able to identify this sprawling property in Carmel as the ideal site, as it met our client’s economic and infrastructure requirements while providing close proximity to New York City.”
The law firm of Shearman and Sterling served as the legal representative for Alexandrion Group in the transaction.
The site was the former home of Guidepost Publishing Group of the Foundation for Christian Living and at the time of the purchase, the property housed Paladin Center, a tactical training center for law enforcement and private security groups. Alexandrion Group produces Saber Elyzia liqueurs, Brâncoveanu brandy, Alexander Vodka and Gin, Kreskova vodka and Zolmyr liqueurs.
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