The Greenman Senior Center in downtown Binghamton has been closed for 473 days. Now, there's an effort by the city to sell the building.

Opportunities for Broome is willing to acquire the property at Pine and Fayette streets for $75,000. Mayor Matthew Ryan says he hopes city council will approve the sale.

Speaking on WNBF Radio's Binghamton Now program today, Ryan said the city stands to "lose a lot of money" by not selling the building, which was closed on November 18, 2011, because of heating issues.

The mayor said the structure would have to be demolished if it continues to deteriorate as it sits unused.

Ryan noted Opportunities for Broome submitted the only proposal for the building, although several other prospective buyers looked at the property.

He said the plan represents a "good fit for the neighborhood."

Although some have suggested Broome County might be able to assist the city in getting the building back into operation, Ryan said it doesn't appear that's going to happen.

Ryan said the city receives no tax revenue on the property currently because it owns it. Under the current proposal, he said the city would receive $3500 in tax payments annually.

Although the proposed price has been criticized as too low, the mayor said he views the OFB bid as fair, given the need for a substantial amount of costly work to make the building useable.

Ryan said a supermajority of city council will be needed to approval the plan, meaning six out of seven lawmakers would have to vote in favor of the sale for it to go through.