SOMERS, N.Y. - The 723-acre IBM facility on Route 100, which was purchased by an unknown buyer in September for $31.75 million, will feature a mix of commercial, retail and hospitality, said Supervisor Rick Morrissey.
Morrissey said he spoke with a representative at Sebastian Capital, a New York-based real estate firm representing the owner of 294 Route 100 LLC, which is based in Delaware. Morrissey said he was told that the property's five buildings will be repurposed for for-profit commercial uses. Morrissey said this news likely means there will be no “major tax implications” stemming from the loss of IBM, which is consolidating all of its Somers employees to another facility in North Castle.
Morrissey added that there are currently several other commercial and residential developments in the planning phase and those projects, once up and running, would also help to “off-set” taxes lost from the departure of IBM and PepsiCo.
A message left for Sebastian Capital was not immediately returned.