U.S. General Services Administration
GSA sells vacant Staten Island land for $2.585M
STATEN ISLAND, N.Y. — On July 9, the U.S. General Services Administration executed the deed transfer to dispose of property the U.S. Department of Veterans Affairs reported as surplus.
GSA closed the online auction May 3 for the lot consisting of approximately 0.313 acres, or approximately 13,500 square feet, of vacant land located at One Water Street. The final bid, from Zack Home LLC of Forest Hills, New York, was $2.585 million.
The property is situated on the northwest corner of Front and Water Street in a moderately developed commercial, industrial and residential area.
“Delivering value for taxpayers by better management of federal real estate is a top priority for GSA,” said GSA Northeast and Caribbean Regional Administrator John A. Sarcone III. “In addition to reducing the federal government’s physical footprint by disposing of surplus real property, the sale generates revenue, creates savings for the government, and makes the property available for economic development and revitalization in the area.”
About the online auction
- The online auction went live in March 2018 at realestatesales.gov.
- The first bid for $40,000 was received March 26.
- Ten registered bidders placed bids between March 26 and May 2.
- Zack Home LLC submitted the tenth and high bid of $2.585 million on May 2.
- With no further bid activity for 24 hours, the auction closed May 3.
- After GSA determined that the high bid was comparable with fair market value for the property, GSA accepted the offer.
- GSA will use the proceeds to help fund future disposal projects and a portion will be deposited into the Land and Water Conservation Fund.
About GSA:
The mission of the U.S. General Services Administration is to deliver value and savings in real estate, acquisition, technology, and other mission-support services across Government.
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