Retail Roundup: Porsche dealership has $40 million new home
Co-owner Evan Christodoulou on the stairs to the second-floor showroom at Porsche Gold Coast in Jericho. Credit: Newsday / David Trotman-Wilkins
A Porsche dealership has cruised into a new, $40 million home nearly nine times as big as the old one.
Porsche Gold Coast, formerly known as Porsche of Roslyn, recently held a grand opening event for its new, 125,000-square-foot facility in Jericho, at 125 S. Service Road.
The building has five levels, including one below ground, and holds all the dealership’s more than 200 new and used vehicles inside, including classic cars, said Rocco Del Greco, spokesman for Porsche Gold Coast.
Evan Christodoulou and Antoine Dominic are the dealer principals, or owners, of Porsche Gold Coast, one of the largest Porsche dealerships in the Northeast, Del Greco said.
So, what does it cost to roll out of the dealership in a car made by the German luxury brand?
“In today’s model lineup, probably a basic model Macan will run around at least $60,000 depending on the options, and a special order super sports car could run up to $450,000. … There [are] several models with different pricing but I would say the average car will run north of $100,000,” Christodoulou said.
(Student loan debt and a career in journalism won’t allow me to dream that big, but I digress.)
The customer waiting area at the new $40 million, five-level dealership. Credit: Newsday / David Trotman-Wilkins
Porsche Gold Coast started as Silver Star Motorsports in Roslyn Heights in the 1950s. Christodoulou and Dominic bought the dealership in 2004, and changed the name to Porsche of Roslyn.
“Basically, they went from one of the lowest-performing Porsche dealerships back in 2005 to one of the top-performing dealerships in the country. … To take the business to the next level, they decided they were going to build a facility that everyone could be proud of,” Del Greco said.
Christodoulou and Dominic sold the half-acre of land and 14,000-square-foot building that held Porsche of Roslyn, at 22 Mineola Ave. in Roslyn Heights, where a car repair shop will be opening.
The business partners added 15 more employees at Porsche Gold Coast, for a total of 55 now.
The new Gold Coast Porsche dealership at 125 S. Service Rd. in Jericho totals 125,000 square feet. Credit: Newsday / David Trotman-Wilkins
Porsche Cars North America, the Atlanta-headquartered division of Porsche AG, did not respond to requests for comment.
Retail Roundup is a column about major retail news on Long Island — store openings, closings, expansions, acquisitions, etc. — that is published online and in the Monday paper. To read more of these columns, click here. If you have news to share, please send an email to Newsday reporter Tory N. Parrish at tory.parrish@newsday.com.
Tory N. Parrish covers retail and small business for Newsday. She has worked at the Pittsburgh Tribune-Review and Observer-Dispatch in Utica, N.Y.
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