Town To Evaluate Former Bank For Possible Acquisition: Supervisor

SOUTHOLD, NY — A former bank building in Southold is on the market for $4,599,999 — and officials are set to take a look and see if it meets the town's needs.

According to Daniel Gale Sotheby's International Realty, which is handling the sale, the property, located at 1400 Youngs Avenue, is an approximately 19,000 square foot brick office building with "room to social distance. Meticulosity maintained over the years. Located in the heart of the town of Southold and across the street From Southold's LIRR train station."

The property features windows for natural light, separate private office spaces on both floors, and a basement with a cafeteria, meeting space, and three-bay storage garage, the listing said.

Southold Town Supervisor Scott Russell said the town had looked at the property, the former North Fork Bank building, a few years ago.

"It wasn’t viable for our needs at the time," he said.

The town purchased the former Southold Savings Bank — which then became the Capital One building — for $3.1 million in 2018. That facility, also located on Youngs Avenue and Route 25, had previously been rented by the town for annex space and offices, with a new justice court initially planned.

The time could be right to once again consider the former North Fork Bank building, Russell said. He added that he has contacted a representative of the owner to coordinate another walk-through with the town engineer, consultant and Department of Public Works Commissioner "to evaluate it again."

Russell said the town would look at the building "to perform due diligence although, it is no more likely to address our needs as it was the first time."

As for justice court plans for the already-purchased Capital One building, Russell said nothing has been decided yet in regards to the roughly $32 million plan.

"We are trying to develop long-term solutions to our space needs specifically, the general government offices, Justice Court and police headquarters," Russell said. "Where the old bank building may fit into our plans, if at all, has not been determined yet."