Southside Oneonta to see new stores open

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May 24, 2012

Southside Oneonta to see new stores open

By Denise Richardson Staff Writer The Daily Star Thu May 24, 2012, 03:30 AM EDT

Developer Tasi Karabinis said he has tenants for two of three store sites in a recently expanded property on Southside Oneonta.

Metro Mattress opens this week at the 4987 State Route 23 property, and Country Junction, a gift shop and candle maker, will open there in July, Karabinis said Wednesday. He continues searching for a third occupant.

"There's a lot going on right now," said Karabinis, owner of Temple Realty Holdings LLC.

The Karabinis development, along with ongoing construction of a Courtyard by Marriott hotel nearby, is a sign of Southside attracting renewed interest, Supervisor Robert Wood said Wednesday.

The hotel is projected for completion by the end of this year, Wood said, and the town of Oneonta is "actively working" on establishing a water district so that businesses don't have to rely on their own wells.

"We're very pleased new business is coming to town," Wood said. "It's not only good for the town of Oneonta but also for Otsego County."

Southside Mall recently announced that a Dick's Sporting Goods store would open after completion of a construction project.

David Shiroff, president and chief executive officer of Metro Mattress, said he had been looking for about five years for a suitable location in Oneonta, which attracts shoppers from a regional area. The local market is "underserved" by retailers of mattresses and bedding, based on demographics, he said, and opening Metro Mattress No. 46 in Oneonta with Southside Mall across the street is an exciting opportunity.

"We ended up with a store exactly where we wanted it," Shiroff said. "Oneonta is going to be a great match for us."

Shiroff said the local store has hired three employees locally. Metro Mattress, based in Syracuse, started 37 years ago and has about 200 employees at stores across the state, he said. The Oneonta store opens Friday.

Shiroff said he worked with J. Fiorie and Co., a real estate firm in Rochester, to locate the local property, which Karabinis built to specifications.

Karabinis said construction about doubled the building size to 8,118 square feet. Metro Mattress occupies 3,200 square feet, he said, and Country Junction will have about 2,100 square feet.

The price tag on the 4987 State Route 23 property, which years ago had a Midas Muffler business, has increased in the past 15 years.

Henry Schecher, director of the Real Property Tax Service for Otsego County, said the property at 4987 State Route 23 is .92 acres. Temple Realty Holdings bought the property Nov. 21, 2008, for $910,000 from Bettiol Enterprises, he said.

Bettiol Enterprises had purchased the property March 15, 2008, for $750,000 from MBG Partners, which bought the property in 1995 for $380,000.

Generally, the most valuable real estate transactions in the county are on Southside Oneonta, Schecher said.