Darien Shake Shack Has a New Landlord: Baywater Sells Land to New Partnership, Continues as Part Owner [UPDATED]

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An entity of Darien Development firm Baywater Properties just sold the property that Shake Shack recently moved into at 1340 Post Road to a new entity with different owners, including Baywater. The price: $4,454,864.

The new owner, according to land records in the Town Clerk’s Office, is “BKP 1340 BPR LLC” at the offices of Earle W. Kazis Associates LLC of 161 Avenue of the Americas in New York City. David Genovese, principal of Baywater Properties, said his firm retains part ownership in BKP 1340 BPR.

Earle W. Kazis Associates describes itself on its website home page as “Real Estate Developers Managers Brokers.”

This longer description is also on the home page:

Formed in 1963, Earle W. Kazis Associates, Inc. is a financially strong real estate holding company. Our principal interest is in the development, management and brokerage of commercial property. Our portfolio includes millions of square feet of retail and office space, as well as hundreds of acres of vacant land for future development.

The official owner of the 0.716-acre property was Baywater 1340 BPR LLC, with an address at the Baywater Properties LLC office, 1019 Post Road. That changed with the sale on Wednesday.

Baywater Properties LLC and PMG/Corbin LLC were also listed as sellers. Also listed as buyers are Earle W. Kazis and (listed as husband and wife) Keren Kazis-Phillips and Brad Phillips.

Update, 6:03 p.m.: Genovese said Thursday afternoon that Baywater will still be a contact for Shake Shack. Brad Phillips had bought some property from Baywater in Westport and recently bought a medical building just down the road from Shake Shack, across the Post Road from Spring Grove Cemetery.

View from the parking lot entrance days before Shake Shack opened. The parking lot is considerably fuller now.

 

Baywater 1340 BPR LLC bought the property, which then was occupied for 46 years by Chuck’s Steakhouse, on Jan. 13, 2015, according to online town land records. In December, Chuck’s closed and vacated the building, which Baywater eventually tore down.

Baywater paid $2,045,000 for the property, buying it from R&W Associates LLP, according to town records. The sale price on Wednesday, a bit over two years later, is 118 percent higher than what Baywater had paid in 2015, after the building tear-down, recruiting Shake Shack and spending money on studies and presentations to town land use boards.

The sale generated $55,685.80 in taxes to the state and $11,137.16 to the town.

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Well before Chuck’s Steakhouse was on the property, there’s an unconfirmed report from a reliable source that it once had been home to a completely different kind of business — a whorehouse, about two blocks from where Darien Police Headquarters has stood since the 1920s.

The source is a former Republican Town Committee chair (from decades ago) and member of the Representative Town Meeting, who said (again, decades ago) that she had heard it from a Darien police chief.

Editor’s note: This article was updated at 1:36 p.m., Friday, to further emphasize that Baywater Properties is still part owner of the property.

Correction: The new real estate partnership is named BKP 1340 BPR LLC. Earlier versions of this article called it “PKP […].”