Tenant buys former Dobbs Ferry bank building

A former bank building in Dobbs Ferry has been sold to a tenant that has renovated and converted the Main Street landmark to a mixed-use building.

GHP Office Realty LLC in West Harrison recently announced that Ward Capital Management LLC, a real estate investment and development company, purchased 81 Main St. in the riverfront village for $595,000. The deal for the 3,000-square-foot former bank building closed in September.

GHP Realty three years ago paid $411,138 to acquire the vacant foreclosed property from First States Investors TRS L.P., an affiliate of Gramercy Property Trust in Manhattan. Ward Capital Management subsequently leased the building and has done extensive renovations to convert it to mixed use with a residential unit on the newly built second floor and a retail unit on the ground floor, said Andrew M. Greenspan, principal of GHP.

Greenspan said the Art Deco building, in the central business district of Dobbs Ferry, was built in 1927 by Greenpoint Savings Bank.

Greenspan and Brendan Hickey, an associate at GHP, represented the seller. Attorney Jamie Schwartz, of James E. Schwartz P.C., who is also GHP”™s executive vice president, provided legal representation for the firm.

D”™Wayne Prieto, managing principal of Ward Capital Management, represented the buyer.  Ward Capital”˜s attorney in the transaction was Christian Daglieri, a partner in the New York City office of Montgomery McCracken Walker & Rhodes LLP.