It will be recalled that the City had written $300,000 into the 2011 budget as revenue from the sale of the Dunn warehouse across Water Street from Henry Hudson Riverfront Park. In December, it was announced that Warren Street Partners--the new name for Eric Galloway's Galvan Group--was offering $250,000 for the building. Last night it was reported that the appraisal, done to establish the fair market value for the property, set the price at $325,000. Warren Street Partners reportedly has agreed to pay that amount for the building, which it plans to convert into a restaurant. 
Wednesday, February 23, 2011
About the Sale of Dunn Warehouse
Gossips wasn't at the Common Council Economic Development Committee meeting Tuesday night, having stayed to the end of the Columbia County Board of Supervisors Planning, Economic Development, Tourism, Transportation, and Agriculture Committee meeting, which lasted for two hours. But in spite of that, we have some intel from last night's meeting at City Hall.
It will be recalled that the City had written $300,000 into the 2011 budget as revenue from the sale of the Dunn warehouse across Water Street from Henry Hudson Riverfront Park. In December, it was announced that Warren Street Partners--the new name for Eric Galloway's Galvan Group--was offering $250,000 for the building. Last night it was reported that the appraisal, done to establish the fair market value for the property, set the price at $325,000. Warren Street Partners reportedly has agreed to pay that amount for the building, which it plans to convert into a restaurant.
It will be recalled that the City had written $300,000 into the 2011 budget as revenue from the sale of the Dunn warehouse across Water Street from Henry Hudson Riverfront Park. In December, it was announced that Warren Street Partners--the new name for Eric Galloway's Galvan Group--was offering $250,000 for the building. Last night it was reported that the appraisal, done to establish the fair market value for the property, set the price at $325,000. Warren Street Partners reportedly has agreed to pay that amount for the building, which it plans to convert into a restaurant. 
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That's good news for the town and glad Mr Galloway has stepped up to the plate. Hope he actually follows through with his "plan." Mr. Galloways track record right now is less than admirable.
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