Simone Development Companies Purchase Greenwich Auto Dealerships

Simone Development Companies has purchased four auto dealerships along West Putnam Avenue in Greenwich. 217 West Putnam Avenue sold for $5.2 million, 252 West Putnam Avenue sold for $2.8 million, 261 West Putnam Avenue sold for $13.5 million, and the service center located at 262 West Putnam Avenue sold for $2.5 million. Combined the properties sold for a total of $24 million, or approximately $496 per square foot. The area along West Putnam Avenue has a concentration of luxury auto dealerships.

The four properties total 48,376 square feet according to the Greenwich Assessor’s Office. 217 West Putnam Avenue is occupied by Greenwich Cadillac-Oldsmobile. Mercedes-Benz of Greenwich occupies 252, 261, and 262 West Putnam Avenue. 252 West Putnam Avenue houses the showroom, 261 West Putnam Avenue contains the dealership, and  262 West Putnam Avenue is home to the Mercedes-Benz auto service building.