A local investor group paid $850,000 for the home of The Pub, the site of the city’s downtown watering holes since the 1920s, Westchester County land records showed.
The seller, Dennis “DJ” Schack had sought $975,000 for the 3 Elm Place property when he put it on the market last July. The deal was finalized on Jan. 22.
The new owners are 3 Elm Place, LLC, an investor group that includes a number of locals including John Lugano, listed as the group’s contact on state records, and Tim Capace, a restauranteur who operates the Purchase Street restaurants Rafele and Gordito.
Schack purchased the 713-square-foot, one-story building in 2018 for $710,000, according to county land records.
Schack — who purchased the 713-square-foot, one-story building in 2018 for $710,000 — said he was confident the new owners would continue The Pub’s tradition of being a popular bar, but 3 Elm Place, LLC has not yet revealed its plans for the property.
