For Immediate Release
Contact:
Jay Verro 518-465-1400 jverro@ccim.net
Cory Tyksinski 518-465-1400 ctyksinski@naiplatform.com
NAI Platform Sells IT’S FIVE O’CLOCK SOMEWHERE FINE WINE & SPIRITS to Local Buyer
Stamford, New York (June 27, 2023) – NAI Platform of Albany, New York is pleased to announce the sale of Its Five O’Clock Somewhere Fine Wine & Spirits located at 75 Main Street. Sellers Colin and Patricia Heath started the biz in 2013 to enhance their retirement income. They grew the business from a start-up to almost $1,000,000 per year in gross sales when listed for sale.
The buyer, Jonna Altheim of Altheim Enterprises LLC will retain the original name, It’s Five O’Clock Somewhere Fine Wine & Spirits.
The final agreed-upon sale price was $438,000 which the buyer’s attorney broke down as follows:
- $85,000 for the real estate (sellers were OK with this as it eliminated their capital gains and they were more concerned about the total price offered)
- $353,000 for the Biz further broken out as $350,000 Good Will and $3,000 for Equipment /Furnishing.
The property is located within the small rural community of Stamford, NY in Delaware County, which has become a popular 2nd home destination for Down-staters.
Quote from seller, Colin Heath: “We chose Jay Verro and NAI Platform because their vast resources could reach well beyond the Capital Region.”
“It took a little longer than we thought it would, but finding the right buyer was our number one priority. Because we were an integral part of the community, we didn’t want just anyone buying this business. Jay acted with absolute professionalism and was able to filter all the potential buyers to find the right one”.
