**Grocery-Anchored Armonk Square Sells for $26.5 Million**
Royal Properties Inc. has successfully brokered the $26.5 million sale of Armonk Square, a mixed-use property located at 402 Main Street and Maple Avenue in Armonk, New York. The centrally positioned Westchester County site comprises approximately 53,000 square feet and includes 12 retail units and 10 residential apartments. The retail mix is highlighted by anchor tenant DeCicco & Sons Supermarket.
“This was a quietly marketed campaign that yielded a wonderful result for both buyer and seller, and we are grateful for the opportunity to have played a role,” said Jim Aries, managing director at Royal Properties. Aries, alongside company principal Jeff Kintzer, served as the sole brokers on the transaction. The identities of the buyer and seller were not disclosed.
Armonk Square is situated in one of the most affluent suburbs of New York City, with average household incomes exceeding $215,000 within a three-mile radius. The area is also home to several major corporations, including IBM, Swiss Re Insurance, and Kayne Anderson, providing a robust daytime population and strong consumer base for retail tenants.
