Gossips reported this more than a month ago, but now the Albany Business Review has the story: "Popular Hudson music venue/restaurant sold to Galvan Foundation."
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| Photo: Albany Business Journal |
The Albany Business Review contains information not previously available:
Helsinki Hudson at 405 Columbia St. sold July 21 for $6.25 million, according to county documents. The sole trustee of the purchasing LLC is T. Eric Galloway, the co-founder and president of the Galvan Foundation.
The seller is holding the mortgage of $4.25 million.
The article also reports: "The foundation declined to comment on the building purchase at this time. The former owners of Helsinki Hudson [Deborah McDowell and Marc Shafler] did not respond to requests for comment."
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I wonder if that means it will come off the tax roll...if so, not so good for Hudson tax payers.
ReplyDeleteI actually wondered the same thing when I came across the story, and hopefully someone can chime in on this.
ReplyDeleteLet's say Galvan has plans to turn this into something covered under the umbrella of its mission statement, but different than its current use. Let's also assume that whatever this change is, it requires some construction and thus has to go before the Planning Board. At what point does it go off the tax rolls? The date of sale, the date of the new PB approval, when construction is done, or when it's open and serving the community?
It doesn't sound like Galvan bought it but a new LLC with Galloway as sole trustee so it maybe a taxable entity.
ReplyDelete