A CNY family found their forever home. Then came Micron (with ‘a sweet deal’)
Clay, N.Y. – When Angel and Lisa Rivera bought a house on an acre of land in Clay two years ago, they intended to raise their three young sons there.
“It was supposed to be my forever home,” Angel Rivera said. “I bought my kids four-wheelers and all that other stuff. It was definitely supposed to be like playland.”
A year later, though, Micron Technology announced it would build the nation’s largest semiconductor manufacturing plant – right across the railroad tracks from Rivera’s house.
“From my second floor all I’m going to see is a big old building right in front of my face,” Rivera remembered thinking. “I’m not for that.”
Rivera and his wife, Lisa, had grown up in York, Pennsylvania, and vowed they’d raise their kids in the country. They learned about Central New York while Angel Rivera served at Fort Drum, near Watertown. He spent eight years in the U.S. Army, retiring in January 2022.
Once the Micron news hit, postcards from real estate agents started showing up in the mailbox. Angel Rivera called Canaan Realty, in Manlius, and soon had an offer.
It was from Micron. For $400,000. That was more than double what Rivera had paid less than two years before.
The price was right, Rivera said, and Micron is letting the family live rent-free in the three-bedroom house until November.
“It was a sweet deal,” Rivera said.
Rivera is the first Central New Yorker to sell land directly to Micron, which plans to build the massive chip fabrication plant, or fab, on Caughdenoy Road. Onondaga County has bought up about 1,400 acres, including dozens of homes, for the fab. That land will eventually be sold to Micron.
The Rivera property lies directly across the street from National Grid’s Clay substation. Two transmission towers stand at the back of the property. A Micron spokeswoman confirmed the land will “support the utility infrastructure” of the fab.
Rivera said he and his family are committed to staying in Central New York and will look for a house with land. If they don’t find exactly what they’re looking for, he said, they’ll have their forever house built.
Allen Olmsted, the broker at Canaan Realty who handled Rivera’s sale, said Rivera paid a premium price when he bought the land in 2021 for $177,400. That turned out to be a good deal.
“Young guy, hard worker, ended up paying a premium price for something that was a good investment,” Olmsted said. “To me, it’s a beautiful story.”
(Story courtesy Glenn Coin & Syracuse.com)
A Client, a Review and a Land Sale
“Allen Olmsted represented us as our realtor for the sale of property in NY State. From the very beginning he provided expert advice and guidance, was available to us continuously and demonstrated excellent negotiating skills on our behalf.”
-Gail Levinson (June 2022)
Link to the review: https://g.co/kgs/5SGphT
In mid-to-late February of this year, a potential seller contacted our office after receiving one of our postcards.
The Levinsons had previously been in contact with another realty office, trying to get information on selling over 125 acres in Wurtsboro, NY, a historic and early-American settlement area, where some of the oldest roads in America were built. With such a desirable area –within 1.5 hours of the George Washington Bridge– and a large amount of acreage, they knew the potential to sell was there.
As is often the case with land and large-acreage properties, Mrs. Levinson wanted to speak with someone with trusted knowledge. Enter Allen Olmsted, our Real Estate Broker and Owner at Canaan Realty.
Our tenured Listing Coordinator and resident in the greater area of that property, Grace Roberts, immediately began working with both Allen and Mrs. Levinson on evaluating the property.
Due to the large size of the land and its unique configuration in both Wurtsboro and Mamakating, with various tax parcels making up the whole offering, it took someone very comfortable with knowing how to market the entire site. To maximize exposure, also smaller sections as well.
For all of us at Canaan Realty, this is just business as usual. For more than 30 years, this is exactly what Allen has done. You’d need only spend a short conversation with Allen to realize the depth of knowledge available even at the surface, regarding land sales in New York State.
Mrs. Levinson’s 126 +/- acres was officially listed on March 1, 2022 and sold/closed on June 27, 2022. That’s less than 120 days between listing and closing, a property with a tremendous amount of use options: single-family residential, apartments, senior housing, office, warehouse, light manufacturing and more.
So when Samantha Leader, our in-house Administrative Manager and former Closing Coordinator, says that Allen “had to understand the different zoning uses that were allowed,” she knows exactly the intricacies involved in addressing Mrs. Levinson’s particular property.
When it came to negotiating the deal with buyers and buyers’ agents, Allen was able to give them an informed opinion on what can be done on the property and make sure it worked for what they intended to do. The property had multiple buyers interested and two potential offers on the table. Allen was able to review both offers in detail and make sure the sellers got the maximum value and best overall offer for their property.
The sale of the Levinson property in Wurtsboro was a smooth and relatively fluid transaction right from the start. Properties often have their own unique considerations, and buyers bring even more with each inquiry.
The successful negotiation and closing of this deal also spurred interest from another nearby seller, and included nearly 500 acres, which is currently available, in Mamakating, NY.
L15 Route 209, Mamakating, NY 12790 – $2,495,000
Property Page: https://newyorkland.forsale/ny/mamakating/l15-route-209/
It’s always nice to hear that a client was satisfied with the services we provide at Canaan Realty. To the Levinsons, we’re so happy to have been a part of the changing of hands in such a historic property, and can only wish the best to the new owners and the potential of that land going forward.
To anyone interested in buying or selling any type of land or rural property in New York, we’re happy to help.
You can trust that here at Canaan Realty, we are “The Land Experts,” and we’d love to be a part in the story of your land.
Ask Allen – Equestrian Facilities
Ask Allen – August 2022 Update
A World of Opportunity At A Reduced Price On Toggenburg Rd￼
A longstanding fixture of outdoor recreation in Central New York is up for sale, at a reduced price, through Canaan Realty. Previously listed at $2.9 million, it is now available for $2.4 million. The listing includes all 156 acres, the 22,000-sq-ft lodge, mechanic’s warehouse, outbuildings, and all the existing equipment.
From the top of the ski run at 1135 Toggenburg Rd, you’ll get breathtaking views of the picturesque rolling hills and farms of Southern Onondaga County. The 156-acre property provides the opportunity for the buyer to place their stamp on the Central New York landscape for years to come as a winter or year-round destination.
A Family-Friendly Ski Resort
As Central New York residents remember, the previous owners operated this property as Toggenburg Mountain Ski Resort. “It’s a really great location,” says Allen. “It is very accessible to a large number of people in the CNY area.”
One unique aspect is the layout of the site: whether you’re in the lodge or the parking lot, you have an unobstructed view of the face of the hill. “That’s a nice bonus for parents and school trips – even if they’re not skiing themselves, parents can keep an eye on their kids,” explains Allen. “It may not be the largest mountain, but it has both challenging runs and gentle slopes, making it a great place to learn how to ski.”
A Destination Location
Of course, the destination can be much more than just a ski resort. “The facility and grounds present a great opportunity with so many possibilities,” says Allen. Although the property is in a peaceful, rural setting, it is conveniently located a short drive from the crossroads of Central New York, I-81 and the Thruway. The location can attract people from Rochester to Utica and Binghamton to Watertown. It could be utilized as a retreat and conference center, a wedding venue, or even a glamping site. The property includes trails, wooded areas, a pond, and frontage along Tioughnioga Creek, as well as on-site parking for 300+ cars. A video on the listing page provides a bird’s-eye view of the scenic property.
“The site and existing infrastructure lend themselves to a lot of different uses,” Allen notes. “Along with the acreage, you’re getting the property essentially as it was when the current owner purchased it: the lodge is there, the kitchen is intact. Everything is already there, down to the cash registers in the office.” The owner is selling the facility with all its existing equipment and infrastructure, including the ski lifts and snowmaking machine. The free span lodge has a steel frame structure, so the new owner could remove the interior walls to dramatically open up the space. The possibilities are endless.
Additional Property Information
The seller is represented by Canaan Realty, an Upstate NY real estate agency specializing in land sales and rural properties. The property is located at 1135 Toggenburg Rd in Fabius, NY, within the Fabius-Pompey school district.
“This property has a great deal of potential,” says Allen. “It’s truly a gem in Southern Onondaga County.” For more information, contact Canaan Realty today.
Land Questions? Ask Allen.
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