Developer Withdraws $4.51M Offer To Buy Sain Building in New City

New City, NY – Michael Glynn, Vice President of National Development sent a letter to the Rockland County Executive and the County Legislature earlier this afternoon stating that although they had expressed interest in developing the Sain property for a senior residence to serve the needs of Rockland’s elders, changing market and financial conditions have “indeed changed our ability to move forward with our original offer.”

The Massachusetts-based firm, National Development, had previously said it wanted to buy the county-owned building on New Hempstead Road in New City and create senior housing.

A frustrated Legislator Lon Hofstein, whose district contains the Sain Building said, “My constituents continuously say to me, the young people looking to purchase a home can afford to pay for the house, but it is the school and property taxes that are prohibitive. Those who presently reside in Rockland say to me; I don’t want to leave, but the taxes we pay are making it difficult to stay. The proposed sale of the Sain Building for a price in excess of $4.5 million, along with $500,000 in annual tax revenues was voted down.”

Legislator Patrick Moroney added, “It is a total disgrace. The county is losing $4.5 million in the sale and the County, Town and School District are losing close to half a million dollars a year in real property taxes.”

Another Legislator Charles Falciglia said, “The Legislature continues their path of showing complete contempt and disdain for the public. They’re more interested in pursuing a paid leave of absence for someone than even proposing an alternative, notwithstanding that this is a very good all-around deal.”

The proceeds of the sale of the Sain Building would have been put towards contract settlements to give Rockland’s hard-working employees the raises they deserve and towards rebuilding the General Fund Balance. Rockland has a long way to go before reaching full fiscal health.

Timeline of events:

March of 2016, National Development responded to an advertisement for the sale, offering to pay $4.51 million – $510,000 above the appraised value for the Sain Building.

September of 2017, National Development submitted a bid to the County Legislature with the same offer, $4.51 million.

December of 2017, the Sain Building was officially closed as the County offices that had been located in the building were moved to the Dr. Robert Yeager Health Center complex in Pomona.

October 2018, National Development sends a letter to the County Executive and the County Legislature stating that they can no longer move forward with their original offer.