[RP TownTalk] Town thinking about selling off land

[Jim Coleman]

The lots comprise 15,375 sqft. The sold price of the nearest property in the
5000 block of Tuckerman Street in June of this year was $83,000 for 11,349
sqft. This leaves roughly 7.31 per sqft based on this price. The equivalent
value for the combined properties in question is $112, 450 approximately.
This estimate obviously oversimplifies the question of building value but
does work as a thumbnail snapshot. I think that we are all in agreement
about the fact that all of our properties are undervalued but my estimate
leaves some doubt about whether your conjecture is correct on the
possibility of this being a back room deal. If it is, the town is getting
the good end of this deal.

I think the appropriate question is whether this is in the long term
interest of the town or not based on many factors outside the value of the
property.



On Wed, Oct 6, 2010 at 10:55 PM, Melissa Avery <m.avery at rocketmail.com>wrote:

> Quote from Patch regarding the towns administrations idea of selling off
> one of the last remaining bits of land actually owned by Riverdale Park.
>
> "There will be a public hearing on Oct. 25 at 7:30 p.m. regarding whether
> the town should take park and planning's offer to buy the property near the
> old boys and girls clubhouse for $150,000."
>
> This should be a referendum.
> A decision of this magnitude should not be left up to back room deals.
>
> $150,000 for two lots on the park?
> Does who ever proposed this deal think it's 1975?
>
> Melissa
>
>
>
>
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