Restaurant Owner Buys Main Street Properties

By Leonard Sparks, Senior Editor | February 17, 2023

Tenants include Cathryn’s, Split Rock

The owner of the Depot Restaurant has purchased eight buildings on Main Street in Cold Spring for $8 million, making him the largest property owner on the village’s commercial heart and landlord to some of its most-popular businesses.

In a deal with Love Realty Management Corp., Greg Pagones bought 1 Depot Square, which houses his restaurant, for $1.5 million and 93-97 and 89-91 Main St. for $2.7 million, according to deeds filed on Feb. 9. Tenants in the latter two buildings include Antique Alley, Split Rock Books and Cathryn’s Tuscan Grill.

Pagones, who declined an interview, also acquired the buildings containing the Cold Spring Antiques Center, The Foundry Rose, Old Souls and Pink Olive, and a garage at 57 Main St. He also owns 155 Main St., whose first-floor tenant is the Romeo and Juliet salon.

57 Main St. $160,000
59-63 Main St. (1875) $1.016 million
79 Main St. (1870) $880,000
1 Depot Square (1894) $1.536 million
80 Main St. (1875) $768,000
55 Main St. (1880) $920,000
89-91 Main St. . .
. . .and 93-97 Main St. $2.72 million

The sales represent a divestment by Love Realty, a White Plains company that is managed by Steven Handelsman and Sharon Stocker and acquired its Cold Spring properties between 1988 and 2004. Steven Handelsman and Stocker are the children of Burton Handelsman, a real estate mogul who died Jan. 5 in Florida.

Burton Handelsman amassed holdings from New York to Florida whose value was once estimated at $550 million. His family still owns 72-76 Main St. in Cold Spring, which is valued at $1.2 million.