The former TD Bank building in Middletown has officially been sold - and to none other than a brewery.
Equilibrium Brewery closed on the TD Bank building sale Friday, March 1. The building, located at 2 South Street, was purchased from the City for a total of $650,000.
Of the total $650,000, $150,000 will be secured by a note and mortgage. An additional $100,000 was paid at closing and the remaining $400,000 will be paid in increments of $100,000 on the anniversary of the closing date for the next four consecutive years.
“This expansion will continue to create more jobs and repurpose another building in our downtown,” said Maria Bruni, Director of Economic and Community Development for the City.
Equilibrium Brewery representatives say that they do plan to expand brewing operations to keep up with growing demand. The new location will include an enclosed pavilion and patio as well as a tasting room. Plans for a possible restaurant on the upper floor are also being discussed. In total, the brewery anticipates an investment of more than $2 million.
“The City of Middletown is happy that Equilibrium chose our downtown as their home, and are thrilled that they chose to expand here as well,” said Mayor DeStefano. “They have had such a positive influence on not just our downtown, but Middletown as a whole.”
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