Binghamton Mayor Selling One Downtown Property
Mayor Richard David is preparing to sell this building at the corner of Court and State streets. [Bob Joseph/WNBF News][/caption]
Mayor Richard David is about to sell one of his real estate holdings in the center of downtown Binghamton.
David said he acquired the property at 60 Court Street six years ago, before he ran for mayor.
The building now houses a Family Dollar store on the street level and has a vacant second floor.
Speaking on WNBF Radio's Binghamton Now program, the mayor described the property as "one of the - probably - most strategic buildings in the heart of downtown."
David said he doesn't believe "it's right for me to develop the building and compete with other downtown developers" while he is mayor. He said he wants to avoid the appearance of a conflict of interest.
He said he also feels it's not right for him "to do nothing" with the site until he's no longer in office. He said delaying future development on the property wouldn't be good for downtown.
Yaron Kweller intends to buy the property. David said he expects the deal will close "within the next few weeks."
Kweller plans to convert the second floor of the building into apartments. His proposal calls for three dwelling units with 19 bedrooms.
The lease for the Family Dollar store is to expire soon. The mayor said "there are conversations to extend" the lease. He said he hopes the store will stay.
Kweller Wednesday afternoon told WNBF News that store's future at the site had yet to be determined.
David said "it wouldn't be right" for him to divulge what the developer ultimately plans to do with the property.
The mayor owns the building through an entity known as "Confluence Properties II LLC."
Broome County property records show the property was purchased in December 2010 for $655,000.
David said he does not plan to sell the other properties he owns downtown or in the First Ward.
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