Greenwich firm redevelops Arch Street building for HQ

Father-and-son team Arthur and Jordan Sanders hope their latest real estate project will play a part in transforming downtown Greenwich’s Arch Street.

The president and executive vice president, respectively, of Greenwich-based Sanders Equities, a real estate investment and management firm, bought the property at 68 Arch St. last fall for $1.8 million, according to town property records. This fall, they expect to complete a full renovation of the building, flipping it into their new company headquarters that will serve as an exemplar of their work.

“This investment is our commitment to Greenwich and Connecticut,” Jordan Sanders said, with his father adding, “It will be a marketing tool to show what we can do. There’s a different level of credibility when you can bring customers into an office that has your thumbprint on it.”

The two-story Arch Street building was built in 1905, per town records, and underwent renovations in the 1980s, Arthur Sanders said. Like several commercial properties surrounding it, 68 Arch St. resembled a residential home, though it’s zoned for mixed-use in Greenwich’s central business district.

The Sanders’ overhaul of the building, ripping it down to the studs and redesigning it into a contemporary space, marks one of several major renovations on the street in recent years. At 47 Arch St., The Perfect Provenance owner Lisa Lori received an award in 2016 for best adaptive reuse. With the help of Murphy Brothers Contracting, Lori turned the 1892 Victorian-style home into an upscale shop and cafe that’s earned several recognitions.

Next door to the Sanders’ work in progress, the office building at 60 Arch St. is undergoing its own round of renovations.

During a recent walking tour of the project, the Sanders laid out their plans for the building. For now, they’re renting space at 41 W. Putnam Ave., located near the top of Greenwich Avenue. When they began looking for a building they could buy, they knew they wanted something near downtown but it was tough to find something that met their specifications — big enough but with some room to grow.

They chose 68 Arch St. for its size, location and potential to customize. Right now the building is just a shell, but their plans ensure it won’t look anything like the former yellow-sided, red-shingled home from months ago.

Renderings depict a sleek gray exterior with additional windows. Inside, walls have been knocked down and a new glassy entrance is planned for guests entering from the parking lot underneath the building. Leading from the entrance to the second floor will be the Sanders’ crowning addition, a floating glass staircase.

“There used to be a claustrophobic entrance, and the space didn’t have a gracious feeling,” Arthur Sanders said. “This staircase works to create drama.”

The Sanders intend to indicate their “long-term investment” in Greenwich with the renovations, Jordan Sanders said, adding that aligns with their entire portfolio.

“We are buy-and-hold investors; longevity is key,” Arthur Sanders said. “We don’t do one-off properties.”

With the majority of Sanders Equities’ portfolio on Long Island, N.Y., the pair hopes this will be the first of several investments in their hometown. “We want to make this a gem,” Arthur Sanders said.

His son added that he believes other landlords will take a cue from their investment. “You’ll see the street change. With what’s going on next door and here, people will realize this could be the next Milbank (Avenue).”

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