TOP (1263) :USA (250) : New York (29)
Proposed 63+/- Acre Eco-Village Development in Schodack, New York, USA
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| Property Group | Commercial | | Property Type | Farm | | Lotsize | 63.00 acres | | Price | US$ 3,500,000
For Sale |
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| Location | Schodack 12156 | | Nearest City | Albany |
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Located in the Capital Region of New York State and only 15 minutes from downtown Albany and Troy, this prime residential/commercial site is ideal for a wholesale/retail organic farm operation. The history of this farm goes back to the 1700's and it has always been a center for trading with the indians and early white settlers in the area.
As new residential and commercial development has moved out from the state capital in Albany and traffic has increased along the Albany to Boston corridor, the property has become even more important because of its close proximity to the last underdeveloped interstate exit ramp on I-90. This is one of the last pieces of prime development property located next to an Interstate interchange in the Capital District area of New York State. With only a small handful of residential properties in the same general area, community opposition would be minimal.
The traffic to the site and the development potential of the land increased dramatically when the New York State Thruway built an entrance/exit ramp (Exit B-1) onto Route 9, located about a mile from the property. Most recently, another highly traveled entrance/exit ramp (Exit 12) from Interstate I-90 was constructed even closer to the property. The site is also the "key" to providing access to some of the adjoining commercial properties in the area and the Buyers may be able to recoup some of the purchase price by permitting access to these other properties over this land at some future date. It also has a good water supply and 3 phase electrical power and optical cable lines are available.
The Owners of the Peacedale Farm have one primary goal and that is to have the property developed not only the way they would want it, but to develop it in conformance with the wishes and desires of the Town planners and the community as well. The Peacedale Farm site is not something to be wasted with a hodgepodge of smaller independently developed parcels, which quickly becomes apparent after a visit to the site. -
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THE 7 ACRE BUILDINGS PACKAGE - $1,750,000.
The key parcel involves all of the 4 buildings on approximately 7 acres of land to be detailed upon a visit to the property. This includes the home, the 8 unit apartment house, the market presently the Period Pics Antique store, (our original farm market) and the large barn that could be used for uses including bread and breakfast units, continued storage, garages etc. It involves all of the tractors and equipment to maintain the property. There is a property manager who is willing to continue in this position if the new owner desired. On a personal visit you will see that the property is well maintained.
The Sellers have put a $1.75 million dollar price on this "buildings" package. The income from present rentals to defray all costs and then some, the depreciation ability, the 1031 tax deferment cooperation for anyone selling or contemplating the sale of property, the eventual conservation easement tax benefits, taxable income and estate planning if options are exercised on adjacent lands, and much more will on its own two feet represent an outstanding value.
To add to this package, the Sellers are prepared to to give a qualified buyer a no cost option agreement for 1 year to purchase adjacent lands. This would give adequate time for a buyer to study the potential. There is a total of 63 acres plus or minus in the original Peacedale farms package. Taking off the approximate 7 acres that the buildings set on in the $1.75 million dollar package this leaves in the neighborhood of 55 acres in the option proposal.
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The Sellers have completed and will continue to do a substantial amount of ground work for the development of this project such as:
Infrastructure planning for one that could reach the engineering stage.
Wetland studies are on file for the project.
Tentative limited access points have been studied by NY DOT.
A major water storage tank in the 500,000 gallon range has been investigated by our engineering firm Owner will donate land to the town for this purpose.
Perk tests have been taken in a 10 plus acre sand area for gray water disposal.
Optical cable as well as a huge electric power dedication runs through the middle of the property.
This property is far from being in the preliminary planning stage. To what stage the current owners arrive before they will hand the development over to a investor/developer remains to be seen. Liberal terms will be negotiated, a generous period of time will be given to an interest, with a very modest option arrangement. If an interest decides to move forward a very limited amount of the 300 acre property envelope will have to be purchased, in order to lock in the leverage of the entire 300 acres. Please CLICK HERE ! to go to a detail informational page that describes the many options available to buyers/investors to reduce their initial upfront costs, by purchasing a smaller key parcel. The information will include prices and terms of this first package that will essentially give the buyer control of the entire 300 acre property envelope.
1031 CAPITAL GAINS TAX DEFERMENT:
For those who have property for sale or know of someone that has, that would want to partner on the purchase of Peacedale, the following could be of extreme interest as it applies to the 1031 tax deferment of capital gains law. The 63 acre package is divided into 3 previously deeded parcels and they will be sold as such. The Sellers have a 1031 deferment need and in fact a cooperative clause will be written in with the sale of this property, as the 1031 format has a very tight time restraint as far as choosing properties and closing them. A buyer of this property will have a broad scope of time in order to comfortably purchase the property not only for the time constraints involved but for the prices that the Sellers will fairly distribute on the 3 parcels.
This should work very well for anyone that qualifies for the conservation/easement considerations as the purchase price is relevant to the bargain sale price to the conservation people. In other words, the Sellers have the flexibility to accommodate the needs of a buyer and ours as well, simple based on timing as it applies to the 1031 law.
ADDED VALUE:
For those who are extremely value conscious, there are four elements to this sale that exceed the asking price:
1. The Value of a 1031 deferment for some one that has a sizable property for sale could defer the entire amount of capital gains tax into the Peacedale purchase.
2. The Value of the structures. Conservative estimates over a million dollars.
3. The Value of the internal Town Road (Peacedale Road) that traverses through the middle of the property and provides immediate shovel ready parcels. The construction of this road with electrical 3 phase service and optical cable we believe could not be duplicated for close to a million dollars. We are not talking about the thousands of feet of road frontage on Route 9 that fronts our property with wall to wall cars whizzing by 24/7.
4. The Value of the preservation/easement charitable donations on a bargain sale to individuals with generous incomes along with the other considerations stated above would most likely put one way over the top value wise regarding listed price and relative to all the other features the property holds and especially its proximity to 2 major interstate roads.
FLEXIBLE TERMS AND STAGGERED PAYMESTS POSSIBLE.
EMAIL US FOR A COMPLETE OFFERING PACKAGE |
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