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Broker: County isn’t high bidder
By Francesca Olsen
Fred Gignac, the broker who is in charge of the sale of One Hudson City Centre for Pyramid Brokerage Firm, has confirmed that the highest bid for the building isn’t from Columbia County.
The county’s bid of $2.6 million falls short of first; Gignac said Pyramid sent three letters of intent out and will meet with the highest bidder to sign the letter of intent next week.
“We’re going to have a meeting next week to sit down and go over everything,” he said. “There’s no real issue that I can see.”
The highest bidder remains unnamed, but Gignac confirmed that “the highest person is a private entity.”
A letter of intent is a non-binding agreement. Once it’s signed, Pyramid will draft a purchase and sale agreement, which is binding.
Gignac also confirmed that One City Centre’s highest bidder is not Richard Koskey, of Pattison, Koskey, Howe and Bucci, CPAs, P.C.
Koskey told the Register-Star in July that he had submitted a bid for the building with the intention of leasing it to the county.
The county received a letter last week from Pyramid which Board of Supervisors Deputy Chairman Roy Brown, R-Germantown, said offered the county a chance to increase its bid on the property. Whether it will or not will be discussed at a meeting of the county Space Utilization Committee set for 10 a.m. Nov. 5.
“We don’t know that the bank will not give us a chance to match that offer -- I’m not saying that we would match that offer,” said Board of Supervisors Chairman Art Baer, R-Hillsdale. “They have not communicated to us that they have consummated an agreement with anybody else ... we don’t know officially what that higher bid is, or whether we’re going to have an opportunity to take another look at it.”
The issue may or may not be resolved at the Nov. 5 meeting.
“I don’t know if we’re going to complete our discussion on Thursday, but certainly we’re going to lay everything out on the table,” Brown said. “Depending on the decision or direction the committee wants to go in will dictate how often we meet, certainly, as things become available or come to light.”
The committee will also evaluate capital projects for 2010. With $9 million in anticipated funds from the Department of Social Services now uncollectible, Brown said the county will have to decide the best direction to go in, and what to plan work on first.
“In the next week or so we’re going to be making some recommendations to the Facilities Committee, and the board, about our capital budgets for next year. Included in that will be a recommendation about what we should do regarding One City Centre,” said Baer.
To reach reporter Francesca Olsen call 518-828-1616, ext. 2272, or e-mail folsen@registerstar.com.
The county’s bid of $2.6 million falls short of first; Gignac said Pyramid sent three letters of intent out and will meet with the highest bidder to sign the letter of intent next week.
“We’re going to have a meeting next week to sit down and go over everything,” he said. “There’s no real issue that I can see.”
The highest bidder remains unnamed, but Gignac confirmed that “the highest person is a private entity.”
A letter of intent is a non-binding agreement. Once it’s signed, Pyramid will draft a purchase and sale agreement, which is binding.
Gignac also confirmed that One City Centre’s highest bidder is not Richard Koskey, of Pattison, Koskey, Howe and Bucci, CPAs, P.C.
Koskey told the Register-Star in July that he had submitted a bid for the building with the intention of leasing it to the county.
The county received a letter last week from Pyramid which Board of Supervisors Deputy Chairman Roy Brown, R-Germantown, said offered the county a chance to increase its bid on the property. Whether it will or not will be discussed at a meeting of the county Space Utilization Committee set for 10 a.m. Nov. 5.
“We don’t know that the bank will not give us a chance to match that offer -- I’m not saying that we would match that offer,” said Board of Supervisors Chairman Art Baer, R-Hillsdale. “They have not communicated to us that they have consummated an agreement with anybody else ... we don’t know officially what that higher bid is, or whether we’re going to have an opportunity to take another look at it.”
The issue may or may not be resolved at the Nov. 5 meeting.
“I don’t know if we’re going to complete our discussion on Thursday, but certainly we’re going to lay everything out on the table,” Brown said. “Depending on the decision or direction the committee wants to go in will dictate how often we meet, certainly, as things become available or come to light.”
The committee will also evaluate capital projects for 2010. With $9 million in anticipated funds from the Department of Social Services now uncollectible, Brown said the county will have to decide the best direction to go in, and what to plan work on first.
“In the next week or so we’re going to be making some recommendations to the Facilities Committee, and the board, about our capital budgets for next year. Included in that will be a recommendation about what we should do regarding One City Centre,” said Baer.
To reach reporter Francesca Olsen call 518-828-1616, ext. 2272, or e-mail folsen@registerstar.com.
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