City signs off on deal to unload old Manchester police station for $875,000
The buyer for the old Manchester police station on Chestnut Street is Tranquility Holdings LLC, an entity established by Candia businessman Francis Rich. (Union Leader File)
The latest agreement won’t be finalized until the conclusion of a due diligence period, with a closing date no later than the end of the year.
The police station was first put on the market in the summer of 2012, ahead of the completion of the new police headquarters as part of the $43 million Municipal Complex. The initial asking price was $2.1 million. Officials also discussed a figure in the range of $1.2 million to $1.6 million for the building as is, with the city bearing no expense for any changes to the structure.
Gatsas on Wednesday said that he always felt the $2 million asking price was inflated, and that $875,000 was a “fair price.” “I think the sooner we can let it move forward and get it on the tax rolls, the better off we are,” he said.
READER COMMENTS: 0
- New NHIA president painting a picture of expansion - 0
- Sources say former White House Chief of Staff Andy Card to be tapped as Franklin Pierce president - 0
- Students prepare to set sail at Tri-City Christian Academy - 0
- Local teacher makes trip to arctic - 0
- Teacher 'thrilled' at being reinstated - 7
- Scholar of the Month: Plymouth junior operates on 'full-sprint theory' - 0
- Software upgrade delays grades - 0
- Derry School Board to hold forum on Facility Needs Study - 0
- Londonderry High forms team to get help for teens struggling with depression - 0
READER COMMENTS: 0
- Dave D'Onofrio's Patriots Notebook: It took a while, but now they're on Wright track - 0
- Newmarket blacksmith has forged a career shaping the elementsof steel - 0
- Kathy Sullivan: We need to rethink some of our county government positions - 0
- Pipes and plans: A chance to show up Mass. - 0
- H.S. Football Power Poll: No doubt - Astros finish on top - 0
- College Hockey: Wildcats home to RPI on Tuesday night - 0
- Manchester school board OK's contract for driver’s ed program - 0
- Unrest erupts after grand jury decides against charges in Ferguson, Mo., shooting - 0
- Malkin, Crosby foil Bruins in overtime - 0
Clinton has 'historic' lead in poll
Sources say former White House Chief of Staff Andy Card to be tapped as Franklin Pierce president
Randy Johnson, Pedro, Smoltz lead HOF ballot
Tough task for NH budget writers
Pipes and plans: A chance to show up Mass.
Teacher 'thrilled' at being reinstated
Paul, Christie share lead in primary poll