Miracle on 96th Street: Visionaries Named Stone Harbor Citizens of the Year
The meeting was measured in minutes, its impact in years.
Stone Harbor still benefits from the impromptu summit between then-Tyco International chairman Ed Breen and Pennsylvania oncologist John Sprandio in 2008. The roots of The Reeds at Shelter Haven, a downtown monument to elegance, blossomed to the tune of a multimillion-dollar transformation on 96th Street after the two Stone Harbor homeowners met over coffee.
Must have been strong coffee.
They conversed, shook hands and launched a rare multiyear partnership devoid of long meetings and paperwork. Their venture made a permanent contribution to the borough’s business pulse.
As 96th Street rejuvenated Stone Harbor, Breen and Sprandio were often noted informally for their contribution. Official recognition came in the fall via the high-profile Stone Harbor Property Owners Association, which awards leaders who make big contributions to the borough.
“SHPOA was honored to name John Sprandio and Ed Breen as our co-Citizens of the Year for 2019,” says Robert Charamella, president of the SHPOA. “They both have added immeasurable stature to our borough with their considerable financial investment and time to make Stone Harbor a better place in which to live and vacation. Starting with a simple conversation over coffee, they envisioned and created a memorable resort right in the heart of town.
“Later expansions of additional restaurants and a spa have enhanced The Reeds’ presence in Stone Harbor resulting in a lively downtown area. John and Ed are indeed a credit to our community and we thank them for their vision and fortitude.”
The fortitude pushed them through the customarily draining process of permits and approvals. Once that was met, their shared vision emerged. The property opened in 2013 and further contributed to the Stone Harbor landscape in 2015 with the addition of Buckets the Margarita Bar & Cantina, in 2017 with the Stone Harbor Pizza Pub, and last spring with the Salt Spa at The Reeds, which completed the expansion.
The tandem knew they’d struck a chord during a meeting designed to recruit investors in 2008. Sprandio, who had purchased this property in the heart of town several years earlier, wanted financial company to implement a business plan. He and his wife, Denise, had met with community leaders, observed the enthusiasm of holiday events, and sought a social center to attract more downtown activity.
What Sprandio needed was investors. Or one giant investor. Little did he know a recruitment meeting would entice Breen, the Tyco chairman and a current executive both at Comcast and DuPont. Breen has been named one of the 100 Most Influential People in Business Ethics by Ethisphere.
Sprandio, who has spent a lifetime implementing programs to enhance the lives of cancer patients, wanted to advance a business idea outside of that realm.
“During the presentation, and there may have been about 35 people there, I noticed some people listening to every word I was saying, nodding and smiling, they were the friendliest people in the audience,” Sprandio recalls.
“They turned out to be Ed and his wife, Lynn. When that meeting was over, Ed and I literally went out to get a cup of coffee, realized we had the same vision about what is needed in this town, and said, ‘How about just the two of us being the partnership team?’”
Breen recalls the leap of faith they made. Resort communities are considered summer gold mines and nine additional months of significant risk.
“A lot of people did not think it could be a success because the season is too short,” Breen says. “But we really liked the plan involving a wedding venue and an attraction that could spread the season out. That vision is exactly what has happened.”
Sprandio says the venture addressed a social need in the borough.
“If you wanted to go somewhere to have a cocktail or watch the sunset, you had to drive to Cape May,” he recalls. “The seasonal visitors were not having their social and entertainment needs met in Stone Harbor.
“When those needs are met on 96th Street, there is more traffic, more customers, more opportunities for business to renovate, more restaurants, chefs, theaters, etc.”
Sprandio and Breen allow local management to run daily operations while retaining their own high-profile businesses. Both cite the need to deliver services that are highly personal, exceed customer expectations and have employees buy into the vision.
Their partnership, informal for a project of this magnitude, hasn’t changed.
“We work very well together,” Breen says. “We literally have 10-minute conversations or go down the shore to meet for coffee and almost immediately come to the same conclusion. It’s been incredible. We are very compatible; we go over this and that and we never disagree on anything. Our families know each other.
“It feels great that so many people in town thank us,” Sprandio adds. “ When you look at the restaurants, and the stores and the fact that a lot of people roll through here, you see that if you have a Friday or Saturday wedding at The Reeds, there are a couple hundred extra people here that otherwise would not have been in the town.”
Clinton Bunting, a previous Citizen of the Year recipient, launched his multi-million-dollar vision right next door. The Harbor Square Theatre area, which includes a restaurant and mall, provides another potent downtown magnet.
“These guys are both very good at their original professions and they brought that over to what they built here,” Bunting says. “They do things the right way. Their operation is very classy, they keep the place clean and they have a great product with great service.
“We work hand-in-hand. They bring people in town for the hospitality reason and we hope to complete it with the theater and the mall. Right now, Stone Harbor is the perfect beach town.”
Breen and Sprandio fell in love with Stone Harbor several decades back. The borough has fallen in love with them, too.
