by David Flint
Dave’s Market is back on the real estate market. Last month it appeared that a buyer had been found for the former Stephentown food market, liquor store and gas station. Rudy Lynch, Associate Broker at Carrow Real Estate Services in Albany said several weeks ago that the parcel was under contract. [private]Lynch has now confirmed, however, that the deal fell through and the property is now back on the market. Lynch believes that the problem was that the buyer could not come up with the cash. The asking price at that time was $399,000. The asking price has now been dropped to $143,000.
In addition to the gas station, supermarket and liquor store, the property includes a three-bedroom owner’s residence, 8,700 square feet in all, on a site of about 3.2 acres with 545 feet of road frontage. The assessed value is $668,896. Carrow Real Estate is selling the property on behalf of the Federal Deposit Insurance Corporation. Lynch said he believes the FDIC wants to get the property off of their books and is making an effort to get it sold before the end of the year.
A small store was originally built on the site in the early 1950s by Ulysses Sweener for Arthur Stevens. He sold it in 1961 to Robert and Dorothy Leab who ran it until the late 1960s. It was leased to Leo Sweener for a while and then sold in 1971 to Dave Desormeaux who greatly expanded the store over the years. Alpesh and Paresh Patel purchased it from Desomrmeaux in 2008 and operated it until they closed down in 2011. The bank foreclosed on the property,and it eventually ended up with the FDIC.
[/private]