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Town Of Rye Sells Town Hall To Cap And Neri's Owners

Rye Town Hall, located on Pearl Street in Port Chester, has been sold for $1.85 million to the owners of Neri's Bakery and the Capitol Theatre.
Rye Town Hall, located on Pearl Street in Port Chester, has been sold for $1.85 million to the owners of Neri's Bakery and the Capitol Theatre. Photo Credit: Casey Donahue

PORT CHESTER, N.Y. -- The Town of Rye has agreed to sell Rye Town Hall to the owners of Neri's Bakery and the Capitol Theatre for $1.85 million.

The building is located at 10 Pearl Street in Port Chester, within walking distance of both Neri's and the Theatre. The Town of Rye is in negotiations to move its operations to the Village of Port Chester's office, located at 222 Grace Church St. The Town Court will move to the Port Chester police station and court house on North Main Street.

The Town Board approved the sale of the building to Neri's CEO Dominick Neri and Capitol Theatre owner Peter Shapiro at its meeting last week. The business owners intend to use the property for a mixed residnetial and commercial building with a parking garage. The motion was passed in a 4-1 vote, with Councilman Bob Nioras voting against the sale.

The Town of Rye currently occupies less than half of the 11,000 square feet of space at the 65-year-old Town Hall building. The building originally held the offices of both the Town of Rye and the Village of Port Chester, until Port Chester moved out in 2008. The Town of Rye tried to lease out the space but was unsuccessful, and has been considering selling the building for the past two years.

The sale is expected to save the Town more than $245,000 a year, according to Rye Town Supervisor Joe Carvin. This includes the cost of operating the building, the loss of rental income, and the cost of necessary repairs that would need to be made in order for the Town to continue to occupy the space. If a deal is reached with the Village of Port Chester, the Town of Rye would pay Port Chester an annual rent of $67,500 to use the space at the Grace Church Street building. The Town of Rye would move out of the Town Hall space by the end of the year.

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