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Modell's Seeks Move Into Former Borders Site In Mount Kisco

The former Borders site in downtown Mount Kisco.
The former Borders site in downtown Mount Kisco. Photo Credit: Tom Auchterlonie
The southern end of the former Mount Kisco Borders site, pictured, remains available for rent.
The southern end of the former Mount Kisco Borders site, pictured, remains available for rent. Photo Credit: Tom Auchterlonie

MOUNT KISCO, N.Y. -- After years of speculation, one of Mount Kisco's prominent vacant retail spaces may get a new occupant.

Modell's Sporting Goods is seeking to move into the former Borders Books and Music site, according to village officials.

An application for a special use permit has been filed and it lists Modell's as the occupant, Interim Village Manager Gennaro Faiella said.

It is not clear how much space Modell's is proposing to use; Daily Voice filed a Freedom of Information Law (FOIL) request with the village to obtain copies of submission material included with the application.

The Planning Board has approval authority for special use permits. Its next meeting is on July 14, although no agenda has been released for it.

It appears, however, that the building could be subdivided, based on a rental listing from Ripco , which is the site's real estate broker.

The listing states that 6,000 square feet in the building remains available; records show that there is roughly 22,000 in total. The remaining space, according to the listing, includes 5,000 square feet on the southern part of the second floor and 1,000 directly below.

A floor plan included in the listing shows a stairwell and elevator in the southwestern portion that would provide a connection between the remaining spaces. Neither of the structures currently exist, which the listing does not note.

A representative from Ripco declined to comment.

The property, located at 162 E. Main St., has been vacant since Borders closed in 2011 as part of the chain's liquidation. The future of the site has garnered rumors over the years as to who will use it.

Local blog Best of Kisco , which first published the prospect of Modell's coming in, recapped several desired tenants for the space.

"A lot of people including me were hoping for something like Trader Joe’s or Whole Foods," Best of Kisco wrote.

The property is owned by a corporate entity called GCCFC 2007-GG11 Kisco Retail, LLC. The entity acquired the property after making a $6.5 million credit bid at a foreclosure auction last August and took title later that month, county records show.

The current owner was originally the holder of a $6.3 million mortgage taken out in 2007 by the previous landlord, Mt. Kisco Associates, LP. The entity filed a foreclosure lawsuit against the prior owner in February 2013, claiming that it defaulted on the mortgage. The two sides eventually agreed to let the property go into foreclosure.

Michael Blumenthal, an attorney who represented the entity during the auction, did not return messages seeking comment.

Modell's faces local competition from Mount Kisco Sports, which is located on South Moger Avenue.

Mount Kisco Sports is making its own investment; it was announced last October that the business purchased the historic building at 11-13 E. Main St. from the Elon tile shop for expansion. Construction at the new space is under way.

Mayor Michael Cindrich, in an interview where he discussed the proposed Modell's, added that he hopes it does not hurt business for Mount Kisco Sports.

The former Borders site includes the building and several parking spaces leased by the village. The 20-year lease, which dates to 1995, expires next month. However, Mount Kisco has the option to renew the lease for up to 20 more years.

Mount Kisco Village Board members discused lease renewal at a work session on Monday. A vote on the renewal could be held at a July board meeting, it was noted.

At the work session, Cindrich estimated that the village has lost out on between $30,000 to $40,000 in annual parking revenue and fines since Borders closed.

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