Silver and Spano of Rand Commercial Services sell 12,500 s/f building in Sleepy Hollow for $2.4 million

Rand Commercial Services (RCS) has closed on a $2.4 million sale of a high-profile reconstructed building. The building at 1 New Broadway, a former car dealership, was completely gutted and converted into an office building on the corner of the village. "This piece of prime commercial real estate property will continue to create a hub of activity in Sleepy Hollow for years," Ann Silver, a licensed real estate agent for RCS who sold the property along with former state senator Nick Spano, who is also a member RCS. "Former senator Spano and Ann make a perfect partnership," Paul Adler, VP of Rand Commercial Services. "Former senator Spano has the ability to bring in the listing and Ann has the vast resources to match up the right buyer with that seller. Often buyers and sellers don't understand each other's needs, but we were able to put them together and it was a nice match." The property was sold to Open Door Family Medical Centers, which provides health care and human services at affordable prices to the economically disadvantaged. Silver said, "We priced it right, gave it publicity and showed it to a variety of buyers. This was a case study in the art of putting a buyer and seller together. It took an understanding of what the market drivers currently are and an understanding of what segments of the marketplace are continuing to grow; the medical industry is one of them." The building's former owner, Peter Grotto, bought the building in 2007 with the intention of moving his business, Peter Grotto Plumbing and Heating, Yonkers, to a larger space. But, he said, his business became too large for the 12,500-square-foot building. "It used to be loaded with mirrors and doors and the downstairs bays and service areas," said Grotto. "We had to come in, take that out and add new plumbing, sprinklers, electric, heating and air conditioning - the whole works." There are now five offices in the Class-A office building.