Westchester County Business Journal 041618

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SALES SLIP

SPECIAL REPORT

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APRIL 16, 2018 | VOL. 54, No. 16

YOUR ONLY SOURCE FOR REGIONAL BUSINESS NEWS, COVERING THE HUDSON VALLEY

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New start for ancient tradition ASAHI SHUZO CO. READY TO BUILD $28M SAKE BREWERY IN HYDE PARK BY RYAN DEFFENBAUGH rdeffenbaugh@westfairinc.com

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ith shouts of “kampai,” a room filled with chefs, elected officials and educators at the Culinary Institute of America on April 10 raised up glasses of sake. The gesture marked the official welcoming of Asahi Shuzo Co. Ltd., a sake maker that will spend $28 million to build its first international brewery in Dutchess County. The Japanese toast kampai, described as an equivalent of bottoms up, is a refrain that CIA and regional officials hope to hear many

Asahi Shuzo President Kazuhiro Sakurai, left, and company chairman Hiroshi Sakurai toast to a new partnership with the Culinary Institute of America. Photo by Ryan Deffenbaugh.

more times in the Hudson Valley starting next year. That’s when Asahi Shuzo, maker of Dassai premium sake, plans to open its brewery about a mile north of the CIA campus in Hyde Park. Gov. Andrew Cuomo first announced the partnership between the company and the CIA in a February speech in Poughkeepsie. The April 10 event, held in a reception room at the school’s Marriott Pavilion, marked the official welcoming of Asahi Shuzo to the region. The company used the reception to describe its plans in greater detail before it starts construc» BREWERY

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Blockbuster deal GINSBURG, ROBERT MARTIN CO. TEAM UP FOR MAJOR REDEVELOPMENT IN WHITE PLAINS BY RYAN DEFFENBAUGH rdeffenbaugh@westfairinc.com

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n what developer Martin Ginsburg described as a “legacy project,” his firm announced that it will lead a major redevelopment of two of downtown White Plains most prominent office buildings.

The Elmsford developer’s company, Ginsburg Development Cos., said on April 11 that it has teamed with Robert Martin Co. on an $83 million deal to acquire Westchester Financial Center, two office buildings comprising about 570,000 square feet on Main Street and Martine Avenue.

Ginsburg said he will use the properties, along with an apartment building on the same block he bought last year, to create a new “City Square” with apartments, green space, restaurants, retail and renovated offices near the city’s train station. “This offers a tremendous opportunity,”

Ginsburg told the Business Journal in a phone interview following the company’s announcement. “This is the key gateway location to White Plains.” The deal includes 50 Main St., a 15-story, 309,000-square-foot office tower and 1-11 Martine Ave., a 14-story, 262,000-squarefoot office building. Both

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were previously owned and operated by Mack-Cali Realty Corp. The two buildings share a block with a 124unit apartment building at 34 S. Lexington Ave., which Ginsburg bought for $35 million last year. The three buildings are bordered by Main Street, Martine Avenue, Bank

Street and South Lexington Avenue. Ginsburg’s development team plans to take advantage of that full block to create the City Square concept. “What we’re talking about is creating a much more diverse, today type development,” Ginsburg said. “So combining apart-

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