OLD GREENWICH – A New Rochelle property management investor has purchased a multiple commercial tenant and apartment building on Sound Beach Avenue for $2.7 million, according to National Multifamily Corp.
The deal for the 4-unit mixed-use property, which sold for $675,000 per unit, closed on Feb. 12, according to Matt Cawley, president of the representative for the seller National Multifamily. The new owner is 193 SB LLC, whose principal is listed on property records as Bharat Chachra of New Rochelle’s Avon Realty & Management, was formed on Feb. 6, 2026, according to the Secretary of the State’s office. The sellers were Mary Louise Bennett and Phyllis Odiseos, trustees of the will of Smaro Odiseos. The family has owned the property for decades.
The 5,570-square-foot property, which includes Old Greenwich Wine Merchants, The Rummage Room and two full-sized apartments, was originally listed for $2.15 million. The property, built in 1915, sits on a 0.14-acre site, and has 6 off-street parking spaces.
The Old Greenwich Wine Merchants (whose address is actually 195 Sound Beach Ave.) opened its doors in 2014 replacing a former wine store that had been in its place. The store currently has a lease through March 31, 2028 with 3% increases each year. The Rummage Room (at 191 Sound Beach Ave.) has been in continuous operations for more than 60 years. It does not have a lease and is currently month-to-month.
“We are pleased to have represented the seller whose family had maintained the property through multiple generations,” Cawley said. “Our marketing generated 15 offers in the first week, showing the strength of Connecticut’s transit-oriented business districts for mixed-use properties. We look forward to what the buyer has in store for the property as they bring the building into the next era.”
