Port Jefferson Village’s Chandler Square, the beloved red brick shopping center where you can sip a locally brewed beer, grab a cone from the ice cream window, or buy a pair of fashionable shoes, has a new owner.
The Northwind Group has acquired the mixed-use property for $8.2 million.
Chandler Square actually consists of three separate buildings, with 12 retail spaces and 24 rental apartments, including The Port Jeff Brewing Company, Slurp Ramen, the seasonal Chandler Square Ice Cream shop, and artist Jennifer Hannaford’s gallery.
The 45,000-square-foot space sits on a .83-acre property.
Lately, Chandler Square has fallen into noticeable disrepair, but the group has said that they will address the issue.
Port Jefferson Mayor Margot Garant told GreaterPortJefferson.com that the village is enthusiastic about the changes Northwind will bring to the walkable open air shopping strip.
“We look forward to a new local owner helping bring vitality and upgrades to this all-important corner and outdoor plaza, which has been neglected for far too long,” Garant said.
The Northwind Group also developed and owns the 53-unit Overbay apartment complex, close to Chandler Square on West Broadway. The apartments overlook Port Jefferson Harbor and are next to The Shipyard luxury apartment complex.
Jim Tsunis, owner of Northwind Group, said Chandler Square fits nicely into the company’s portfolio.
“The location of Chandler Square falls in line with the boutique brand that we would like to bring to Port Jefferson,” he said in an email to GreaterPortJefferson. “Port Jeff is a grand area and with this acquisition we hope to reform Chandler Square to have a more modern feel.”
In the short-term, the idea is to bring the property up to Northwind’s standards.
“Our long-term objective is to make this the showplace of the Village of Port Jefferson,” Tsunis said. “We plan on meeting with village officials before making any plans to renovate the property.”
Currently, the retail portion of the property is 100% occupied.
Real estate agent Maria Palmar, with an office at 202 East Main St., brokered the sale. Among other residential and commercial real estate transactions in and around the Village of Port Jefferson, Palmar has been leasing both the retail and residential units at Chandler Square for over 15 years for the former owner, bringing in the Port Jefferson Brewery, Shoe Tabu, Sweet and Savory and Renaissance, which is set to occupy the old Village Way space.
She said the owners of the new restaurant will keep the integrity of the Village Way’s iconic look intact, while updating it to a pub and restaurant concept. They are now waiting for final permits in order to open at some point in August, she said.
Palmar had been trying to sell Chandler Square for two years. Tsunis came to her to negotiate a deal with the sellers.
“He said, ‘Maria, I’ve been looking at Chandler Square for years. I want Chandler Square,’” she told GreaterPortJefferson.
Tsunis mentioned that his real estate attorney Scott Zamek was also instrumental in acquiring the property.
Palmar said that she has brought hundreds of residential rental leases and over 60 retailers to Chandler Square but Northwind has its own leasing agent for the space. She said she is confident Tsunis will do what needs to be done with the property.
“He will make it beautiful,” she said. “This is what has been needed.”