The Real Deal New York

International distiller pays $3.2M for Putnam County development site

January 10, 2019 12:05PM

Just north of Westchester County, a Romanian spirits producer planning to build its first U.S. distillery at a development site in Carmel has officially bought the Putnam County property. Alexandrion Group, advised by the global law firm Shearman & Sterling, officially acquired the 12.75-acre hilltop site at 39 Seminary Hill Road from Hinckley Holdings and Covington Development for $3.2 million, according to Avison Young’s New York office, which arranged the sale. The property, formerly known as the Paladin Center Campus, includes an office and warehouse facility, as well as parking, and was “the ideal site, as it met our client’s economic and infrastructure requirements while providing close proximity to New York City,” said a statement from Avison Young principal and Tri-State president Arthur Mirante II. Alexandrion reportedly plans to invest $40 million into an 118,400-square-foot distillery, visitors center and tasting rooms. Last summer, the office of New York Gov. Andrew Cuomo championed the deal in a press release, noting that the agreement could bring 102 new jobs to the region. [Avison Young]