Two well known Westport automobile dealerships on Post Road East long owned by the Crabtree family—Toyota of Westport and Lexus of Westport—have changed hands.
The buyer was Michael J. Cantanucci of the New Country Motor Car Group of Saratoga Springs, N.Y., which operates Lexus, Mercedes-Benz, Maserati, Ferrari, BMW, Porsche and Audi luxury automobile dealerships in Connecticut, New York and Florida.
The real estate portion of the Lexus dealership at 1317 Post Road East, comprised of 0.73 acres sold for $4 million and the land occupied by the Toyota dealership at 777 Post Road East comprised of 2.14 acres sold for $6 million, according to filings in the Town Clerk’s Office.
The sale price of the businesses was not disclosed although documents filed with the Town Clerk’s Office showed that financing of up to $362.8 million was extended to New Country as part of the transaction.
Matthew Keefe, president of Westport’s HK Group commercial real estate, was sole broker. He said the sale includes Fairfield-based Lexus Service Center at 80 Kings Highway Cutoff and the Lexus Pre-Owned business at 187 Kings Highway Cutoff.
Robert “Bobby” Crabtree Sr., owner of the Lexus and Toyota dealerships in Westport as well as six others in the area, died in 2005 at his Greenwich home at the age of 79. (See WestportNow Feb. 10, 2005)
Crabtree opened the Toyota dealership in 1982 and the Lexus dealership in 1991. When he died, he left the dealerships in trust to his family, including sons Robert and Joseph and daughters Margaret and Constance.
During his more than 50 years in the business, Crabtree ran as many as 21 dealerships at a time, family members said.
In addition to the two Westport dealerships, at the time of his death Crabtree also ran a Toyota dealership in Milford; Mitsubishi, Cadillac, Kia and Subaru dealerships in Shelton, and a Dodge dealership in Derby.
