Saturday, July 20, 2024

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Wright Street Office Buildings Sell for $30 Million

The office buildings at 8 and 10 Wright St. overlooking Westport’s downtown have changed hands for more than $30 million, almost double the purchase price five years ago.

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The office buildings at 8 and 10 Wright St. overlook Westport’s center. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com

The seller, Boston-based Marcus Partners, said it invested more than $5 million in a large-scale capital improvement program in the buildings, including renovation and upgrades of the lobbies and all common areas. The Town Clerk’s Office said the sale was recorded on June 28 for $30,021,500.

Marcus Partners said the property is currently 94% leased and consists of two office buildings totaling 83,964 square feet. The buyer was identified as WFF Westport TT LLC, a Boston-based firm of Waterway Capital, LLC, according to the sale documents.

Tenants at 8 & 10 Wright Street include: UBS, Regus Corporation, Berkowitz, Trager & Trager, Energy Income Partners, and Ameriprise Financial, among other boutique financial services firms.

Almost Ready

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Elvira Mae’s, formerly known as Elvira’s, expects to debut its window service (through new service window on right) on Wednesday in time for the annual fireworks celebration, according to new owners Hal and Betsy Kravitz. “We’ll offer ice cream, coffee (hot or iced), cold beverages, hot dogs, hamburgers and snacks,” said Hal. ”Then,  we’ll open the doors for in-store business toward the weekend.” As Elvira’s, the store has served the Old Mill Beach area for decades. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com

Comings & Goings: Alala to Bedford Square

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Alala, a women’s luxury activewear store, opens soon at 31 Church Lane, opposite Spotted Horse Tavern, in the Bedford Square complex. The business, founded by Denise Lee in 2014, distributes its brand through over 100 high-end retailers including Nordstrom and Bloomingdale’s and operates a retail store at 1082 Madison Ave. in New York. According to its website , Alala is derived from the Greek goddess “whose name signifies a battle cry, a call to arms.” The website adds: “to us, ALALA represents all that we aspire to be as modern women.” (CLICK TO ENLARGE) Dave Matlow for WestportNow.com

Lamont: CT Will Get the Extra Income Tax Receipts Built Into the New Budget

By Keith M. Phaneuf

www.ctmirror.org

Gov. Ned Lamont and his budget director today defended their decision to build $180 million in extra income tax receipts into the new state budget, with Lamont offering assurances the money will flow as planned into the state’s coffers.

The governor, who pledged to sign the $43.4 billion, two-year state budget into law later this week, insisted the package passed by his fellow Democrats in the legislature is balanced without gimmicks.

And his budget director, Office of Policy and Management Secretary Melissa McCaw, said additional income tax receipts built into the budget are modest compared with the revenue growth her office anticipates from this source.

“I promised the people of Connecticut they were going to get a good, honest budget done on time,” Lamont told Capitol reporters following a bill signing ceremony. “And that’s just what we did and I’m going to sign the budget this week.”

Comings & Goings: Meatball Shop Opens

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The Meatball Shop, a casual dining eatery, opens Tuesday at 5 p.m. at 2 Post Road West in the street level of historic National Hall, according to CEO Adam Rosenbaum (r). He said the Westport location, its eighth, is the first in the state in addition to six in in New York and one in D.C.  Executive Chef Daniel Sharp (l) describes the menu as “simple, straightforward and wholesome without the pretense.” (CLICK TO ENLARGE) Dave Matlow for WestportNow.com

Comings & Goings: Neat Capital to Railroad Place

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Neat Capital, a mortgage lending company, has opened at 44 Railroad Place, across from the westbound Metro-North platform, in space formerly occupied by Quentin Row, owned by Ryan Mesersole, a maker of tailor-made men’s wear.  According to Chris Carmichael, Neat Capital national sales manager, the Westport location is the second office for the Boulder-based business founded in 2015. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com

Comings & Goings: Sparkly Soul to Main Street

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Sparkly Soul, a sports fashion accessories store, has opened at 72 Main St. in the space formerly occupied by Shoes ‘N More, which recently relocated to Playhouse Square. Owner Dari Herman (above), a former sports and entertainment corporate lawyer, relocated to Westport from New York two years ago with her husband Steven, a Westchester-based chiropractor. “We’ve been operating our business under the Sparkly Soul name (http://www.sparklysoul.com) for over eight years supplying major sports participation events with logo products especially featuring unique head bands at the Boston and New York Marathons,” she said. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com

Tax Collector: Taxes Due July 1

Even though all tax bills have yet to go out, Tax Collector Harry Whiteley reminded residents that first quarter real estate taxes, personal property taxes, motor vehicle taxes and sanitary sewer use and assessment charges are due July 1.

Taxpayers have until Aug. 1 to pay taxes without penalty. Accounts will be subject to an 18% (1.5%/month) penalty charge if paid late. Minimum interest charge is $2. 

Failure to receive a bill does not abate the charges or interest, Whiteley said.

Real estate taxes, personal property taxes, motor vehicle taxes and sanitary use and assessment bills may be paid by credit card, debit card, or direct withdrawal from a checking account online at https://www.westportct.gov/ and choosing “Pay Taxes Online” from the homepage.

At P&Z, ‘High Density’ Text Amendment Raises Concerns

By James Lomuscio

A site specific text amendment that would allow greater density to facilitate a proposed 32-unit, rental housing development at 1480 Post Road East, the former Roger’s Septic Tank property. raised concerns at Thursday night’s Planning and Zoning Commission (P&Z) meeting about its implications townwide.

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Plans call for three buildings on the property, including two with one townhouse each. (CLICK TO ENLARGE) Contributed graphic

“Text amendments affect the entire town,” said Peter Gold, a Representative Town meeting (RTM) member speaking as a member of the public. “There are other possible sites that it may affect.

“You guys have an obligation to think of the town as a whole, not a specific site,” he added.

His concerns about text amendment 772, designed to increase density in inclusionary zone two- and multifamily lots, were shared by some P&Z members, as well as the public.