Former Vanilla Bean has new owner
The former Vanilla Bean bakery in Latham, N.Y., is expected to get a new life as a gift shop for collectible dolls, figurines and artwork.
John Avakian, owner of Maggie’s Gift Shop, a long-standing business in Watervliet, plans to buy the former Vanilla Bean at 521 Troy-Schenectady Road in Latham.
The purchase price is $400,000. The deal is scheduled to close Nov. 24.
The sale came together after well-known restaurateur Angelo Mazzone’s top bid of $395,000 for the property was rejected by the sellers at a Sept. 24 auction.
Mazzone was considering using the site as a wholesale bakery to supply his restaurants and catering operation and as a retail coffee and pastry shop. Mazzone Management Group’s operations include Mansion Catering, Prime at Saratoga National, 677 Prime in Albany and Aperitivo Bistro in Schenectady and the Glen Sanders Mansion in Scotia.
At the time, the family trust that owns the building and half-acre of land said it wanted at least $500,000. An appraisal put the value of the property at $690,000.
