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IBM Sells Somers Campus For $31.75 Million

An entrance sign for IBM's Somers campus
An entrance sign for IBM's Somers campus Photo Credit: Tom Auchterlonie
IBM's Somers campus features office buildings with pyramid-shaped tops. The buildings are pictured in a view from Goldens Bridge.
IBM's Somers campus features office buildings with pyramid-shaped tops. The buildings are pictured in a view from Goldens Bridge. Photo Credit: Tom Auchterlonie

SOMERS, N.Y. -- Armonk-based IBM has sold its longtime campus in Somers for $31.75 million, according to records from the Westchester County Clerk's office.

The sale was agreed to, through a deed transfer, on Sept. 29. The transaction was recorded with the clerk's office on Oct. 18. The deal also included payment of a $127,000 transfer tax.

IBM owned the campus through a subsidiary called New Somers II, LLC.

Scant information is known about the site's buyer other than its legal name and hired representatives.

The buyer is a Delaware-based limited liability company called 294 Route 100, LLC. The name merely matches the campus' address, which is 294 Route 100.

No information about the company's ultimate owners (whether beneficial or for a parent company) could be found in the transfer document or in a Delaware corporations search, the latter of which shows that the entity was formed in July.

The only contact information pertaining to the buyer that is publicly available is for two companies that serve as its representatives: a title-transfer company listed in the deed-transfer and a registered agent in Delaware, which is listed in its corporate filing abstract.

The sale price for the property is a steep discount from its full market value, which is the town's estimate of the property's worth for tax purposes.

The town, in its current assessment roll, gives the campus a full market value of $122,150,943. The campus has 723.08 acres, according to the assessment roll, and carries an assessed value (taxable value) of $16,185,000.

The campus has entrances and exits that connect to Route 100, Route 138 and Route 116.

IBM announced in May that it was looking to sell the campus and to move staff out of it next year. Staff will be reassigned to the tech giant's North Castle campus.

Morrissey, when he reacted to IBM's departure announcement in May, wrote on Facebook that the company's headcount in Somers had been going down over time and that multiple buildings on the campus had been mothballed.

In a separate transaction, IBM is looking to sell property on the other side of Route 100 to the Somers Fire District , Daily Voice previously reported. That property contains the current New York State Police barracks. The fire district is looking to build a new firehouse on the site as a replacement for its facility along Route 202; plans call for sharing space with state police, which would become a tenant of the fire district.

The fire district is seeking subdivision approval from the Somers Planning Board so that it can close on a purchase; it was noted at a board meeting that both parties are in contract to sell the site.

The IBM campus' sale is the second major transaction to upend Somers' corporate landscape. Last year, the owner of the PepsiCo site sold its campus, which straddles Routes 100 and 35, to a company linked to Mexican business tycoon Carlos Slim as an investor, published reports noted.

That company was sold by a subsidiary of MHP Real Estate Services in a deal valued at nearly $87 million.

PepsiCo has since moved out of the property.

The legal purchasing entity for the former PepsiCo site deal is called One P Way, LLC, although its parent company is Sebastian Capital, a real-estate acquirer and asset-manager for outside investors.

Sebastian Capital is seeking to rent out PepsiCo's former office building - it has dubbed the place "Westchester Campus" - and proposes developing 220 housing units. It has not filed an application with the town for the housing component.

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