A contract was signed today to buy the property on Route 9 in Latham, New York, where Michael’s Banquet House was located for many years.
The buyer and purchase price weren’t disclosed, but the asking price was $1.38 million.
Tony Sabatino of Realty USA represents Michael’s Banquet House. Garry DeGonza of DeGonza Realty in Glenmont is representing the buyer.
They said it’s a cash deal.
The four acres at 1019 New Loudon Road is just south of Guptill’s Arena, a commercial district that has seen new investments in recent years including a New Country Lexus dealership at 999 New Loudon Road and Fuccillo Nissan at 976 New Loudon Road.
The sale is expected to close in early fall, provided the redevelopment plans are approved by the town.
The property was put up for sale last fall by Rick Treacy, whose family operated Michael’s Banquet House since 1998.
Michael’s Banquet House closed. Treacy is now in charge of the banquet house at Pinehaven Country Club in Guilderland. The business is called Michael’s at Pinehaven.
Michael DeMasi covers real estate, construction, retail and hospitality.