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Staten Island Tradition Continues at 40 Year Old Motorcycle Sales Company |
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Island Cycle Sales has been the largest motorcycle dealership in Staten Island since its founding in 1970. Three brothers, Ralph, Mario and Thomas Costagliola, have now purchased the dealership from the retiring original owner. Now to be known as Staten Island Power Sports, the company is not only the largest dealership in the area but is the only multi-line dealer located within 50 miles. They sell and service motorcycles and off road vehicles (including parts and accessories) for Honda, Yamaha and Suzuki to name a few. The entire motorcycle and off road vehicle industry is expanding nationwide as people look for more economic, fuel saving means of transportation, and diverse recreational opportunities.
The Costagliola family brings a wealth of experience to the business and will be expanding the company with new lines such as go carts, scooters and additional parts and accessories. While past business relied strictly on local word of mouth, the new owners will be entering into an aggressive marketing campaign throughout the metropolitan area going into New Jersey. Internet sales outside the US are another growth avenue.
As part of the takeover and expansion of the company, the Costagliolas purchased the building and land of the facility at Arthur Kill Road in Staten Island. New Millenium Bank is financing the business purchase and participating in the building acquisition with financing as well. The 13,150 square foot building will be financed by a conventional loan in first mortgage position from New Millenium and a second mortgage loan from Greater New York Development Co. under the SBA 504 loan program. Both New Millenium and GNYDC are making 20 year loans.
The attractive financing and growth plans for Staten Island Power Sports will enable this dealership to continue and improve a long standing tradition in the community and beyond.
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