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<DIV>Jim is correct on the selling price and the square footage of the lot on
5000 block of Tuckerman. I don't agree that you can make a judgement on
price by looking at one property. This particular property Jim is talking
about was a very distressed property, but there is also some history that goes
with it. This property was sold in March of 2010 for $53370. In
April 2010 it was put back on the market (no work being done and it was a
mess. mold, fleas, dirt, clutter, old food, etc. etc.) and sold for
$83000. Not a bad return on investment for one month. $29630.
Don't know where you can get that kind of return on your money these days.
See, you can make money in real estate!</DIV>
<DIV> </DIV>
<DIV>An appraiser would likely compare the lots to other finished lots in the
area, not distressed real estate.</DIV>
<DIV>He would also take into consideration the prime location backing up to the
park. He would also give consideration to the building on one of the
lots.</DIV>
<DIV>I don't believe in selling anything without an official appraisal.</DIV>
<DIV>Audrey</DIV>
<DIV> </DIV>
<DIV>
<DIV>In a message dated 10/7/2010 12:44:45 A.M. Eastern Daylight Time,
jcolema3@aol.com writes:</DIV>
<BLOCKQUOTE style="PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: blue 2px solid"><FONT style="BACKGROUND-COLOR: transparent" face=Arial color=#000000 size=2>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.
<DIV><BR></DIV>
<DIV>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. </DIV>
<DIV><BR></DIV>
<DIV><BR><BR>
<DIV class=gmail_quote>On Wed, Oct 6, 2010 at 10:55 PM, Melissa Avery <SPAN dir=ltr><<A title=mailto:m.avery@rocketmail.com href="mailto:m.avery@rocketmail.com">m.avery@rocketmail.com</A>></SPAN>
wrote:<BR>
<BLOCKQUOTE class=gmail_quote style="PADDING-LEFT: 1ex; MARGIN: 0px 0px 0px 0.8ex; BORDER-LEFT: #ccc 1px solid">
<DIV>
<DIV style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman, new york, times, serif">
<DIV>Quote from Patch regarding the towns administrations idea of selling
off one of the last remaining bits of land actually owned by Riverdale
Park.</DIV>
<DIV> </DIV>
<DIV>"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."</DIV>
<DIV> </DIV>
<DIV>This should be a referendum. </DIV>
<DIV>A decision of this magnitude should not be left up to back room deals.
</DIV>
<DIV> </DIV>
<DIV>$150,000 for two lots on the park?</DIV>
<DIV>Does who ever proposed this deal think it's 1975?</DIV>
<DIV> </DIV>
<DIV>Melissa<BR> </DIV>
<DIV style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman, new york, times, serif">
<DIV style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman, new york, times, serif">
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