CHAPPAQUA, NY (WCBS 880) –The four Pegasus sit atop the old Reader’s Digest building in Chappaqua, and while the company’s logo is still there, the 700,000 square foot building remains empty.
With the Reader’s Digest company long gone, the question as to what to do with the property remains.
Geoff Thompson of Summit Greenfield Partners, the property’s new owners, spoke with WCBS 880’s Catherine Cioffi.
“Many important people walked these grounds in these hallways,” he said.
According to Thompson, New Castle has restricted what they can do with the property.
WCBS 880’s Catherine Cioffi reports
“Under the current zoning you can’t lease the whole building,” he said. “It’s a black hole in the middle of the community at this point.”
He says they’re now fighting – and considering legal action – to build condos, but some residents are up in arms over potential surges in traffic.
Calls to the town have not been returned.
LINK: Chappaqua Crossing