The new owner of the M&T Bank building at 1019 Park Street in downtown Peekskill has work crews going full throttle, cleaning up the building interior to clear the way for extensive renovations.
But Ram Bathija will take a 90-day break from overseeing the work for a little trip he and his best friend have scheduled – a 15,000-mile motorcycle odyssey from “Times Square to Taj Mahal.”
Bathija recently closed the deal to buy the building and it’s not his first investment in Peekskill real estate. He has an interest with partners that own the Hampton Oaks shopping center at 1099 North Division Street and he’s interested in an empty lot on Main Street that could be developed into an apartment building.
Having lived in Northern Westchester for many years, he looks at Peekskill and sees the potential for uncovering the value that the city’s Hudson River location presents.
“In my life I’ve always seen that the waterfront properties are always more money than the inland properties. It’s the reverse here [in Peekskill],” he said. “I’m from the neighborhood – I’ve seen Beacon and I’ve seen Ossining. You can’t afford Ossining today. I’m optimistic about Peekskill.”
Restoring a downtown asset
The 17,000-square-foot Park Street building is underutilized now, with one law firm and one dentist as upstairs tenants. M&T Bank takes up 2,700 square feet at street level and will be staying there for up to 20 years.
The other 3,100 square feet of ground level space is being cleaned up and will be renovated for use as a restaurant, according to the current plan. “Back in the day the entire first floor used to be all a bank so there’s a vault there now,” Bathija said. His real estate broker in New York City is seeking possible tenants for the space.
Bathija started negotiations to buy the building in 2023 with an asking price of $2.1 million by M&T, the owners who took possession when they absorbed Hudson City Bank.
He discovered the central air conditioning system did not work and “the air handler is older than my father,” so the final price came down to $1.6 million, giving him a cushion to do necessary upgrades.
The 7,000 square feet of upstairs space is designed with seven offices now, two of them occupied. Bathija initially thought of tech companies as potential tenants but he’s not sure there would be demand for that use. “In my plan now it would be one big open space. A tenant might walk in tomorrow morning and say I want the whole thing. A few people have reached out already to do some kind of an art studio/training classes/wine and paint concept.”
Bathija says he’s received a nice reception since arriving here. He’s had discussions with Peekskill’s Building Department and he’s working with “a very, very good architect in Joe Thompson.” He met with Carole Voisey at the Hudson Valley Gateway Chamber of Commerce and plans to sit down with Peekskill restaurateur John Sharp soon. “I’m starting to get to know the community. Bill Powers of the BID [Business Improvement District] spent an hour with me and sent me a whole list of people that I should be in touch with.”
“The new property owner of the M&T Bank building has many innovative ideas that will enhance the downtown business community,” said Richard Rogers, president, Board of Directors, of the Peekskill BID.
“After meeting with him and touring his available space, we put him directly in touch with fellow business owners to get valuable first-hand feedback on what types of businesses might succeed in his location.”
From Bombay to Peekskill and around the world
Bathija consults on long-term projects with Fortune 500 companies. His firm, Manhattan-based “human (equation),” helps organizations with their people. “I’m a business coach and technologist. I’m not a software developer but I help the software developers work better. I coach managers, leaders on strategy and on relationships. I’m called when there’s trouble – either they’re not making their deadlines or the team is dysfunctional, so that’s where I come in. I love that. I solve problems.”
He came to the U.S. from Bombay in 1999, seeking “the American Dream.”
“I’m an entrepreneur, an adventurist and a life coach. It’s a very crazy combination. I have my boat parked here in the marina, I have a pilot’s license and I fly at least two times a week, but my biggest passion is motorcycles.”
That passion has played out with road trips through 49 states (all but Hawaii) and throughout Europe, all of India and parts of Mexico.
This upcoming adventure starts at Times Square, where he and his best friend will ride to Toronto, load their bikes (he’s riding a BMW) on a plane bound for London Gatwick Airport, and head for the continent, covering 30 countries in 90 days. “There’ll be YouTube videos and the whole shebang.”
The itinerary is set but there’s adventure along the way.
“Up to Turkey, no problems. Civilization, hotels, money works,” Batija said. “After you leave Turkey and go into central Asia – Uzbekistan, Kazakhstan, Tajikistan, all those stans – nobody knows.”
The initial plan was to get into Afghanistan and then go through Pakistan into India but the borders are closed. “So we’ve arranged a guide for us through China because you can’t travel alone. We’ll go 15 days through China, but no cellphones, no social media, no satellite phone – nothing.
“Then get into Tibet, then Nepal, and then two weeks in India. So by the 15th of November, I should be posting from the Taj Mahal.”
At age 58, Bathija says he’s looking to his business future by investing in Peekskill real estate while continuing his quest for adventure. It seems he’ll be very busy becoming part of Peekskill’s business community – and planning the next motorcycle road trip.
“If we come back unscathed from this one, in the next five years I want to do Alaska all through Patagonia.”
