The commercial space at 124 Elm St.—for years and until recently the home of Pennyweights, which moved a few doors down—sold this month for $1,616,000.
The commercial space at 124 Elm St.—formerly Pennyweights, which moved just a few doors down—has been sold for $1,616,000. Credit: Michael Dinan
According to town tax records, the property on Aug. 9 transferred between the limited liability companies 124 Elm LLC and Tres Amigos 124 Elm St LLC.
The new ownership company’s principal is Elizabeth Elliott, according to records on file with the Connecticut Secretary of the State.
Elliott, owner of women’s clothing shop More ‘N’ More next door and Shoes ‘N’ More across the street, could not immediately be reached for comment.
More ‘N’ More women’s clothing shop is at 120 Elm St. in New Canaan. Credit: Michael Dinan
Number 124 on Elm includes 1,491 square feet of retail space, tax records show.
According to one person familiar with the transaction, plans call for More ‘N’ More to expand into the former Pennyweights space. Opening up the wall between the two spaces would more than double More ‘N’ More’s current space of 1,349 square feet, according to tax records.
The property at 124 Elm St. last sold for $1.1 million in 2010, and underwent approximately $33,000 in renovations in 2013.
Speaking of new businesses popping up and the whole “rules” regarding who can have store-front space on street level, I see there is some kind of furniture liquidation company advertising “Italian leather couches” for 50% off in the old Jos A Bank space. So, Yoga studios are bad but discount sofa clearing houses are appealing? Interesting…