Mayor McCarthy Announces Sale of Six Properties for $277,500

Mayor McCarthy Announces Sale of Six Properties for $277,500

For Release: Immediate
Date: February 9, 2016
Press Release

Mayor McCarthy Announces Sale of Six Properties for $277,500

Schenectady, N.Y., February 8, 2016 –The City of Schenectady today announced the sale of six properties for $277,500. The property sales were approved by the City Council this evening.

Mayor Gary R. McCarthy said, “These property sales continue our efforts to move City-owned parcels back onto the tax rolls.  The City benefits from the proceeds of the sale and recurring revenue from new commercial and residential property owners.”

Council President Leesa Perazzo said, “The interest we are seeing in Schenectady property is not only encouraging, it’s exciting.  During last year’s budget process, we used the sale of nineteen City properties to cut taxes in 2016, and we are pleased to see these new sales move forward.”

The list of property sales includes the former City incinerator site at 1814 Maxon Road which sold for $200,000.

The City IDA completed an environmental review of the property last year at the request of Mayor McCarthy. The study revealed no significant environmental problems.  The City IDA is administered by Metroplex under Schenectady County’s unified economic development team.

The parcel will be purchased by Red-Kap Sales, the owner of the adjoining corner parcel.  The owner plans to develop the site which will create on-going tax revenue for the City, County and school district.

Jonathan P. Kaplan, Vice President of Red-Kap Sales said, “Having been located on the corner of Seneca Street since 1933, Red-Kap Sales is excited about the Mohawk Harbor project, and we are pleased to work with the City of Schenectady and Metroplex to redevelop this long-vacant site.”

Ray Gillen, Metroplex Chair said, “We are pleased to assist the City in selling and redeveloping vacant parcels.”

Metroplex also helped the City evaluate environmental conditions on State Street allowing construction of the new County Library branch and Family Dollar Store to move forward.  The City and Metroplex plan to work together to test and market additional parcel.

The City also sold three homes to new owner occupants:

–51 Linden Street for $25,000
–718 Mason Street for $20,00
–1234 First Avenue for $10,000

A property at 705 McClellan sold for $21,000.

A vacant lot at 227 Furman Street was sold for $1,500 to the owner of the adjacent property at 233 Furman Street. The house at 227 Furman was demolished using HUD funding obtained by the City. The vacant lot will be used for parking and to create a garden.  Both the Land Bank and HUD demolition programs are encouraging the sale of side lots to neighboring property owners following demolitions.

Former Incinerator Site

233 Furman Street – property at left (227 Furman Street) was demolished

A list of City-owned properties that are for sale can be found atwww.capitalregionlandbank.com

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