A 108,000-square-foot, high-end mixed-use project in downtown Westport has landed substantial financing.
Bedford Square is located in the “golden triangle” of downtown Westport and reuses the town’s old YMCA property. The project was completed in 2017.
The project contains roughly 80,000 square feet of retail, restaurant, and office space, anchored by a 40,000-square-foot Anthropologie store. Other retail tenants include Williams-Sonoma, Nic+Zoe, Barbour, Savannah Bee Co. and Wafu, an Asian bistro. Office users include Charter Realty & Development, HSBC and the Higgins Group, a local Christie’s International residential real estate affiliate.
Bedford Square also includes 24 luxury residential units ranging in size from 700-square-foot studios to 2,100-square-foot two-bedroom duplexes. Four of the units are built as maisonettes in individual buildings with a private internal courtyard connecting them. Most units have outdoor balconies, and each unit has dedicated lower-level garage parking, an unusual feature in Westport.
Cronheim Mortgage secured $68 million in financing for the project. The 10-year, interest-only loan was placed for the borrower, Bedford Square Assoc. LLC, an entity formed by the individual principal partners Paul Brandes, Daniel Zelson, David Waldman and Lance Sauerteig.