Simone announces acquisition of Greenwich car dealerships

Simone Development Companies has announced the acquisition of four properties on West Putnam Avenue.

Together, these properties house two luxury car dealerships, including the local Mercedes-Benz and Cadillac franchises.

“This stretch of West Putnam Avenue has become a magnet for luxury auto dealers, and these properties are right at the 50-yard line,” President of Simone Development Companies Joseph Simone said in a press release.  “We believe they are valuable as car dealership space, and will continue to be so.  Simone invests in all types of commercial and residential real estate, and these properties will further diversify our portfolio.”

The property addresses are 217 West Putnam Avenue, which houses Cadillac’s Greenwich location; 252 West Putnam, which is the showroom for Mercedes-Benz of Greenwich; 261 West Putnam, dealership space for Mercedes-Benz and 262 West Putnam, which is the Mercedes auto service building.

The row of dealerships also includes Porsche, Audi, Aston Martin and Bentley.

Simone’s other holdings in Greenwich include One Sound Shore Drive, a multi-tenant office building located within walking distance of the Greenwich Metro-North train station, and 644 West Putnam Avenue, a newly redeveloped 40,000-square-foot mixed-use property anchored by a CVS drugstore.

Simone Development Companies is a full-service real estate investment company specializing in the acquisition and development of office, retail, industrial and residential properties in the New York tri-state area.

Headquartered in the Bronx, the privately held company owns and manages more than five million square feet of property in the Bronx, Westchester, Queens, Long Island and Connecticut.

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