(Credit: Gordon Woodworth, 2023)
(Credit: Gordon Woodworth, 2023)
A pair of Saratoga Springs developers have purchased 58-66 South St. in Glens Falls for $270,000.
Business partners Gregg Singer and Larissa Ovitt purchased the three connected buildings from Tony Poulos and David Johnson last week.
Singer and Ovitt have started renovations on the old Irish Pizza space at 66 South, and Kerry Smith, who opened Glens Falls Bagels in mid-November, will stay in his current spot at 58 South Street until renovations are completed. Glens Falls Bagels will then move into the renovated space.
“I have signed a new lease,” Smith told FoothillsBusinessDaily.com. “It’s a very friendly, mutually beneficial lease with incentives and options.”
Smith added, “I’m encouraged and excited. I feel like I owe this community nothing but the best because of the incredible support I have received since we opened. We will have an expanded menu, and I’m looking into franchising as well.”
[South Street is undergoing major redevelopment as part of the private-and-state-funded Downtown Revitalization Initiative. Read our extensive coverage, including a story about Glens Falls Bagels, here.]
Singer said he and Ovitt own Empire Rental Group, which he said already has several short-term rental properties in Glens Falls.
“We were looking to buy, and this fell into our lap,” Singer said. “Larissa has lived here her whole life, and we were looking to expand here, and this building is a good diversification of what we do and we can help build out the commercial district here on South Street.”
Singer said they are working closely with City officials, who he said are calling them “trendsetters.”
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Plans are to renovate the second floor into four one-bedroom apartments which they will manage as short-term rentals, he said. The property comes with nine parking spaces next to 66 South St.
Once Glens Falls Bagels moves into the former Irish Pizza space, Singer and Ovitt plan to renovate the vacated bagel shop space into a bar called the Golden Monkey Lounge. Singer said they will manage the business, which he envisions as a “lounge bar with couches, plants and live music, and a nice outdoor space out back. We hope it will have a very comfortable feel.”
City real estate records show Tony Poulos and David Johnson bought 58 South St. for $270,000 in 2004, and purchased 64-66 South Street for $80,000 in 2005.
Angela Cugini-Girard of Howard Hanna represented the buyers. Sandra Poulos of Howard Hanna represented the sellers.