WESTPORT, Conn. -- Post Road East Associates has sold 87 Post Road East in Westport, the home of a Patagonia store, to LJG 87 Post Road Westport, a New York City based investor, for $16.635 million.
Sean Grathwohl, of David Adam Realty. represented the seller in the off-market transaction, as well as assisted in the procurement of the buyer with Northeast Private Client Group.
Built in 1924, the 14,400-square-foot flat-iron building originally was built for and occupied for more than 80 years by the Westport Bank & Trust Co. In 2004, David Waldman, president of David Adam Realty, and his partners acquired the property and began an intense renovation effort 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 in a press release.
Upon the sale, the property was leased to Patagonia, Pink Sumo Japanese restaurant and Balance Point Capital Partners, according to a press release.
Area retailers include Tiffany, Restoration Hardware, Lululemon, Brooks Brothers, as well as more than 50 other national retailers on Main Street, Church Lane and Elm Street in downtown Westport.
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