Two apartment complexes in Saratoga County Sold
The Canfield Apartments in Gansevoort and the Halfmoon Garden Apartments in Halfmoon have sold for just over $8 million, the Albany Business Journal is reporting. Sunrise Management & Consulting or Latham will add a total of 93 units to its portfolio of 700 units owned and another 400 managed, the story says. Most units are occupied and in great shape, the new owners reported, adding the sellers are retiring.
Former Colonie Turf Inn sold
A small group of local buyers purchased the former Turf Inn and, more recently, Red Lion Hotel in Colonie. They plan to redevelop the 13 acres on Wolf Road. The sale price was reportedly $10 million, though neither the buyers nor the price were recorded on the deed, a story in the Albany Business Journal says. The hotel was financially stressed before the pandemic, closed and never reopened. The main building likely will not reopen as a hotel, the story says.
Nonprofit buys more Cambridge property
Cambridge Valley Community Development and Preservation Partnership Inc. purchased 2.6 acres of property along West Main Street in Cambridge. It's the latest move of the local development nonprofit, the Post-Star is reporting. In this round the group bought five buildings, open space, and 600 feet of Owl Kill shoreline. They have already redeveloped property on East Main Street, the story says.
Saratoga passes budget
Saratoga County officials passed a $381 million operating budget for 2022, up from 2021 by nearly $11 million, the Daily Gazette is reporting. Passage comes with a slight property tax reduction for property owners. “I am pleased to report the County remains in excellent fiscal shape as we rebound from the challenges associated with the pandemic,” County Administrator Steve Bulger’s budget statement read, according to the story.
Cuomo’s SUNY pick resigns
Former Gov. Andrew Cuomo’s shadow is broad and dark. His pick for Chancellor of the State University of New York system announced he would resign Jan. 14, the Daily Gazette is reporting. This stems from criticism he has received for text messages he has sent. The messages attacked at least one woman who accused the then-Governor of sexual impropriety. A recording of Malatras has surfaced as well in which he berates a female subordinate at a previous job.