Council chooses properties to sell, auction, demolish

At a committee meeting on Friday, common council members agreed on a list of approximately 26 foreclosed properties that they will attempt to sell directly to buyers, and a list of eight properties that will be a priority to demolish. Council members also agreed to allow the Capital Region Land Bank to choose ten other properties that they wish to rehabilitate. The remaining properties will be sold at a public auction later in the year, possibly during the summer.

Jay Brundage, of the Amsterdam-based real estate business HIS Unlimited, attended the meeting. Brundage is one of several developers who have already submitted proposals to purchase some of the recently foreclosed properties. At the beginning of the meeting, Alderman Jim Martuscello said he would include the 14 properties that Brundage had submitted proposals for in the list that would be sold directly.

However, Controller Matt Agresta stressed that common council would make the final decision as to who to sell the properties to based on the recommendation of the Property Disposition Committee and what they believed to be in the best interest of the city.

During the discussion of one property on Elizabeth Street, Brundage said, “If there’s a person who wants to get it as a home owner, then I’d prefer not to have it. I’d rather the homeowner get it, because we need homeowners there.”

“If there’s a property that someone wants to live in, I would not want to compete against that,” he added.

Brundage said that he owns and manages approximately 70 rental units across 30 properties within the city.

Alderman Chad Majewski asked what the next step was for buyers interested in the properties.

Agresta answered, “Now that we know which ones we’re going to sell, we’ll look through that list for anybody who put a bid in, they have to be sent a letter. So does anybody [who lives] within 200 feet of that property. And we’ll advertise it.”

Any buyer interested in purchasing a city owned property may apply through the city engineer’s office.

The unofficial list of properties agreed on by the council that will be sold directly by the city:

1st Ward