This house on Overlook Drive sold for $22,000.
By Nancy Peckenham
The city of Newburgh stands to earn nearly half-a-million dollars from the auction sale of 47 pieces of city-owned properties last Thursday.
Ed Lynch, the city’s head of planning and development, told city council that in addition to the sale prices, which totaled $493,300, purchasers will be re-paying another $200,000 in school taxes that the city had spent during the past three years. The total money that could come into city coffers is $683,538, Lynch reported.
This buyer of this house on Carson Avenue bid $8,200 of the property and will also pay $9,240 in school taxes.
Prices on the properties, which range included tiny empty lots and multi-family apartment buildings, ranged from a low of $400 paid for a lot on Lander Street and another one on Liberty Street to $62,500 for a residence on Marne Avenue.
The city council has to approve the sale at its next meeting and Lynch said there is only one sale that he recommends against. A four–story building on Chambers Street sold for $22,000 and Lynch told the council that its location next to an area that the city is trying to develop could increase its value if properly marketed.
According to the terms of the auction, new owners have one year to begin rehabilitation work on the properties.
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