GLENS FALLS — The co-owner of Grey Ghost Bicycles has bought The Post-Star’s former advertising building on Lawrence Street for $520,000.
An entity called Magic Mountain Enterprises bought the 78 Lawrence St. building from Elizabeth Miller, who also owns Miller Mechanical and opened the Park Theater in Glens Falls.
The purchase was completed on Tuesday, according to Warren County deed records. Paul Fronhofer is the agent for Magic Mountain Enterprises, according to the state Division of Corporations.
Fronhofer did not immediately return a message seeking comment on Friday. Grey Ghost opened in October 2012 and is currently located in the first floor of the Colvin Building at 206 Glen St. That building was bought in January for $945,000 by Brian Bronzino.
Paul Fronhofer has raced in Ironman competitions and competed in local and national races, according to the website. He runs the business with co-owner Dan Fronhofer.
The Lawrence Street building had been vacant since 2014, when The Post-Star moved its advertising operations into the building next door housing its news operations and business office.
Miller bought the property in April 2015 from Lee Enterprises, The Post-Star’s corporate parent, for $540,000, according to deed records.
Miller’s original intent was to lease out the two-story building to be used for office space, but that did not happen.
In January, Miller bought the building at 15-25 Park St., which is across the street from The Park Theater, for $500,000 and is working to renovate it.