Photo courtesy of Angel Commercial LLC

An industrial building in Milford was bought by a New York business looking for space in the area.

The 20,120-square-foot 435 Woodmont Road building traded hands for $1.57 million. The seller was Richard Vecsey, according to town property records, who bought the building in 1992 for $815,000. The building was formerly used as the home for a business called Reliable Tool & Die for several decades.

The buyer was Team Woody LLC, which is registered to two people at a residential address in Corona, in New York City’s borough of Queens. According to Angel Commercial, whose president John Angel represented the seller, the LLC plans to “use the building for their own business operations.”

The single-story building in Milford’s main industrial zone near Exit 40 on Interstate 95 has one loading dock and 2,930 square feet of air-conditioned office space, and sits on 1.5 acres of land, according to town assessor’s records.

“We continue to see a low inventory of available space for sale as well as for lease and expect this latest acquisition to impact the local economy positively,” Angel said in a statement.