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New York & Tri-State  + Fairfield/Westchester  + Retail  | 

Grocery-Anchored Armonk Center Trades for $26.5M

Royal Properties Inc. brokered the $26.5-million sale of Armonk Square, located at 402 Main St. and Maple Avenue in Armonk, NY in central Westchester County. The 53,000-square-foot center, which includes 12 retail stores and 10 residential units, is anchored by Decicco & Sons Supermarket.

“This was a quietly marketed campaign that yielded a wonderful result for both buyer and seller and we are grateful for the opportunity to have played a role,” said Jim Aries, managing director of Royal Properties. Aries and principal Jeff Kintzer were the sole brokers on the transaction. Buyer and seller were not disclosed.

Armonk Square is located in one of the wealthiest suburbs of New York City, with average household incomes exceeding $215,000 within a three-mile radius. In addition, Armonk is home to several prominent corporations such as IBM, Swiss Re Insurance and Kayne Anderson, which generate significant daytime population.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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