Developer Retracts Sain Building Offer in Letter to County Executive and Legislature

The developer that had been interested in purchasing the Sain building property and putting up senior housing there has pulled his original $4.5 million offer from the table, citing changing market and financial conditions. The deal could be salvaged, however, if the building is declared surplus. That’s according to a letter the buyer, National Development, sent to the county executive and the legislature. County executive Ed Day took to the steps of the old Sain building yesterday afternoon to slam the legislature for failing to sell the property over the last three years…

Audio: Ed Day

A legislature resolution two years ago designating the building as surplus, or no longer necessary for public use, couldn’t pass the Budget and Finance Committee thereby preventing the full Legislature from considering the sale. A Legislature spokesperson noted the full Legislature voted on declaring the property surplus in March, but it failed 8-6 with three legislators absent.

Snow Closings Updated Regularly

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