The historic Westport building at 87 Post Road East housing Patagonia and other businesses has sold for more than $16 million.
- 87 Post Road East in Westport. Photo by Danielle Brody
David Adam Realty”™s entity 87 Post Road Associates LLC sold the building to LJG 87 Post Road Westport LLC, a New York City-based investor, for $16,635,000.
Sean Grathwohl of David Adam Realty, a Westport-based real estate firm, represented the seller in the off-market transaction and helped find the buyer with Northeast Private Client Group. David Adam Realty will provide ongoing property management and leasing services.
The 14,400-square-foot flat-iron building was originally built in 1924 for Westport Bank & Trust Co., which occupied the building for 80 years. In 2004, David Waldman, president of David Adam Realty, and his partners acquired the property and renovated it for their anchor tenant, Patagonia.
“Having Patagonia involved from the beginning allowed us to go beyond local historic designation and receive federal designation,” Waldman said.
Upon the sale of the property, it was 100 percent leased to Patagonia, Pink Sumo Japanese restaurant and Balance Point Capital Partners.
The building is among other national retailers on Main Street and is adjacent to another of Waldman”™s developments, Bedford Square, a mixed-use project under construction on the corner of Post Road, Main Street and Church Lane.
