This northern Westchester village is becoming a definite bank headquarters with six financial centers.
The Westchester Bank has signed a 12-year lease for 1,808-square-feet storefront at 51 South Moger Ave. in a spot where Papyrus card shop was located.
This comes as Mt. Kisco Associates, the owners of the former Borders Books & Music property on East Main Street, is set to sign a foreclosure stipulation with debt of more than $9.1 million. It seems they were unable to rent the 20,000-square-foot space listed at just under $30 a square foot. And other vacant retail spots are in village’s main center.
“We are delighted to be opening our fourth bank branch. The Mt. Kisco area is an important location in the strategic growth of our bank branch system,” said John Tolomer, president of Westchester Bank, which is reported to have assets in excess of $460 million. “As the leading community bank in Westchester County, The Westchester Bank’s strong financial performance includes loans outstanding in excess of $350 million with deposits now over $370 million. The Bank is also recognized as one of the fastest growing community banks in the country.”
The Westchester Bank is headquartered in Yonkers at 2001 Central Park Ave., with other branches in White Plains branch at 464 Mamaroneck Ave., and in Thornwood at 994 Broadway.
Houlihan-Parnes Realtors of White Plains represented Westchester Bank and this will be its fourth bank branch.
“After an extensive search, we were able to find the perfect space for The Westchester Bank’s fourth bank branch. The space was not yet on the market at the time of our search, and we were able to negotiate a deal for the space prior to the existing tenant vacating,” said Jamie Schwarts of Houliahnd-Parnes who represented the tenant. Aaron Prince of Friedland Properties represented the property owner.
The storefront location on Moger is in the Mt. Kisco central business district, near Chase, Citibank, Bank of America, Key Bank and People’s Bank.