Deal reached on old YMCA
As published on page one of the Oct. 28, 2011 edition of The Keene Sentinel, and online.
A Keene real estate investor has signed a bargain-priced agreement to buy the Roxbury Street property soon to be vacated by the Keene Family YMCA.
The agreed-to sale price of the 110-year-old downtown building is $99,900, according to buyer Chris J. Tasoulas, owner of Tasoulas Realty of Keene. That's about 14 percent of the assessed value.
But the ultimate fate of the site is still unknown. Tasoulas is evaluating a number of possible uses for the land -- 0.75 acres -- and building, he said.
The property, which was listed for $399,900, has an estimated 2011 assessment of $695,900. In 2010, before the city's most recent commercial property revaluation, it was assessed at $2.6 million.
The YMCA is scheduled to open its new facility on Summit Road on Dec. 3. The sale of the old building should be finalized after the move is complete.
Tasoulas pointed out that while the sale price is a good deal, it is unlikely to represent the final cost.
"It might cost $300,000 to tear it down, or it might cost a million and a half to renovate it," he said.
Some uses under consideration include luxury condominiums, retail space, a parking facility, and keeping it as a fitness center, and it is also available for sale, Tasoulas said.
This is the second downtown building to be vacated and sold recently.
The Keene School District closed on the sale of the old middle school building on Washington Street on Oct. 18 for $1.35 million to Hudson-based MDP Development.
The new owner is looking for tenants before it begins renovations. Suggested uses include professional/medical office space, residential units, restaurants, theater and fitness club.
tagged with: downtown construction, Keen Family YMCA, Keene N.H., real estate
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