Raymour & Flanigan Takes Central Avenue Property

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YONKERS-Retailer Raymour & Flanigan Furniture purchased a 40,000-sf building that sits on almost 2.5 acres from Gimmel Associates of Yonkers. The former Futurama Furniture building at 1855 Central Ave. sold for $12.5 million.

The company had originally opened the store several months ago under a lease and later decided to acquire the property, according to Rick Stassa, a broker with NAI Friedland Realty, who represented both the buyer and the seller. The deal was part of a three-store purchase from Futurama Furniture. The other Futurama stores acquired by Raymour & Flanigan were locations on Route 9 in Wappinger Falls in Dutchess County and at 531 State Highway 46 in Fairfield, NJ. The retailer has opened those stores under lease agreements.

Stassa also brokered another deal involving a furniture retailer in the region. Earlier this month, Moda Furniture of Passaic, NJ purchased the 72,000-sf former Rickel’s Shopping Center on Route 211 in Middletown from Caroland Cos. of Goshen for $2.15 million. Moda will operate a 33,000-sf store at the site. Moda also has stores in Manhattan and Elmhurst, and Paramus, Fairfield and Passaic, NJ. Stassa represented the buyer and the seller in that deal as well.