CANTON - A New York City developer paid $57,500 for the former Hacketts clothing store in the Midtown Plaza, about half of what the building was assessed for in 2012.
Garry L. Cohen closed on the purchase in July, but he only recently filed the real estate transaction with the St. Lawrence County Clerks Office.
Mr. Cohen own several buildings in the plaza, including thevacant Jubilee store, which has been empty for more than a decade. He also owns the plazas parking lot
He said it made sense to purchase the Hacketts store which he acquired through an April bankruptcy hearing held in Utica. The Hacketts store was among several owned by Patrick Hackett Hardware Co., which filed for Chapter 11 bankruptcy in 2009.
Nobody else was interested, Mr. Cohen said. I didnt want this thing sitting in limbo in the middle of my shopping center. I was a natural buyer for it.
In 2012 the building was assessed for $119,000, more than twice the $57,500 price Mr. Cohen paid for the 5,300 square-foot store.
Mr. Cohen said the space would be suitable for another retailer or office space.
People have been through there, but I dont have a deal, he said. I would welcome inquiries. I dont intend to keep it empty.
He said the store has air conditioning and would be an ideal spot to sell fresh vegetables, fruit and other produce year-round.