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The announcement comes in the form of a prominent poster displayed on the western side of the building, which was once home to bookstore chain Borders before closing in 2011 due to bankruptcy.
The Mount Kisco Planning Board voted in November to approve a special permit for Modell's, which plans to take up 12,794 square feet of the 2-story structure. The structure, which totals around 22,000 square feet, is also intended to host a future second tenant that would take up just under 8,000 square feet on both floors. The balance of the space would be set aside as a common area.
At Monday's Mount Kisco Village Board of Trustees meeting, Mayor Michael Cindrich was upbeat about recent news for the property. He also recalled speaking with a member of the Modell family in late November, who thanked him for the Planning Board's reaction. Cindrich added that he requested decorating the building for the holiday season, which was ultimately done.
The decorations include a Christmas tree in the second-level vestibule, frosted holiday window imagery, and exterior wreaths and decorative lighting.
Cindrich expressed optimism about Modell's, predicting that it is “going to do well in Mount Kisco.”
Modell's does not need any additional approvals from the village, according to Village Attorney Whitney Singleton.
“As far as approvals, they have any and all approvals that they need," Singleton said at the board meeting.
The only thing that Modell's has to do at this point, according to Singleton, is to get its space built out, which he called "entirely administrative."
The property was purchased last summer by investors including the Modell family and real-estate businessman Stephen Lerner for $6.25 million, Daily Voice previously reported. The investors' ownership stakes are held through limited liability companies.
The property was previously owned by an entity called GCCFC 2007-GG11 Kisco Retail, LLC, which acquired the property in August 2014 after making a $6.5 million credit bid at a foreclosure auction. The entity was also holder of a $6.3 million mortgage taken out in 2007 by the previous owner, Mt. Kisco Associates, LP.
Previous coverage regarding Modell's coming to Mount Kisco is available here.
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