Maltz Auctions to conduct online-only public auction of the former site of Central New York Raceway Park

Central Islip, NY Maltz Auctions, a premier full-service auction company serving the Continental United States and Caribbean, has been directed to conduct an online-only public auction from September 17-19, 2024, for the former site of Central New York Raceway Park, located at 172 a/k/a 220 Route 11, Central Square, Oswego County, NY 13036. Online Bidding will commence September 17, 2024, at 1:00 pm and end September 19, 2024, at 1:00 pm. The deadline to register to participate is September 18, 2024, at 4:00 pm. 

"With almost 145 acres of land, featuring impressive frontage near the 1-81 exit ramp, and conveniently situated within five miles of Micron Technology's $100 billion investment, this property is ideal for a range of uses, from redevelopment to supporting the significant new construction of Micron and related businesses," Richard Maltz, CEO of Maltz Auctions, said. "With an appraised value of $14,490,000 and a minimum opening bid of just $1,900,000, the possibilities are limitless." 

PROPERTY DETAILS: 

• 144.90 Acres 

• Commercial/Public Utilities: Sewer, Electric, and Water 

• Zoning Permits: Industrial & Retail 

• Potential Access to I-81

• 17.5 Miles to Syracuse University 

• 15 Minutes to Syracuse Hancock International Airport 

• 86 Miles to the Closest US – Canada Border Crossing 

• Originally Envisioned/Entitled as a Motorsport Complex 

• Potential Empire State Development Program Incentives 

• I-81 Est. Daily Traffic Count of 37,238 Per NYS Traffic Data Viewer 

• Berm Complete along I-81 

• Retention Ponds Installed 

• Previously Approved for an Automotive Raceway 

• Newly Approved Stormwater Remediation Plan (See Documents at MaltzAuctions.com)

• $14,490,000 Appraised Value (September of 2023) 

• $1,900,000 Opening Bid 

ADDITIONAL INFORMATION: 

• Property Class: 522 – Racetrack 

• Site: COM 1

• Tax Map ID# 293.00-03-06 

• Central Square School District 

• Annual Real Estate Taxes: $70,899.63 

• Tremendous Local Investments in Area- (Example $180 million Viaduct Project)

NOTABLE NEARBY CONSTRUCTION- MICRON’S NEW YORK MEGAFAB PLAN: 

Excerpted from https://www.micron.com/manufacturing-expansion/ny/fact-sheets: Micron has selected Clay, New York, just 10 minutes outside of Syracuse, for the location of the megafab site. Micron intends to invest up to $100 billion over the next 20-plus years, with the first phase investment of $20 billion planned by the end of this decade, to build a leading-edge memory megafab in Clay, New York. 

This is the largest private investment ever made in New York state history.This new megafab will create nearly 50,000 New York jobs: 9,000 new high-paying Micron jobs and over 40,000 community jobs – including suppliers, contractors and other supporting roles. Micron will begin direct hiring for the megafab in line with the production ramp. Micron’s Central New York site could eventually include four 600,000 s/f cleanrooms, accounting for a total of 2.4 million s/f of cleanroom space – the size of approximately 40 U.S. football fields. Production output will ramp in the latter half of the decade, in line with industry demand trends. 

Pre-Registration Required to Bid: You must send in signed Terms & Conditions of Sale, signed Online Bidding Form, and a $190,000 deposit to be approved for bidding. All items must be received by Maltz Auctions on or before Wednesday, September 18th at 4:00 PM. 

Auction Date: Online-Only Bidding will open Tuesday, September 17th at 1:00 pm and is scheduled to close on Thursday, September 19th at 1:00 pm. Visit RemoteBidding.MaltzAuctions.com or download the Maltz Auctions App on the Apple Store or Google Play. 

Bidding Process: If a bid is placed with less than one minute remaining, the bidding period will be extended so one minute remains for competing bids to be entered. If any further bidding occurs, the extension timer will reset to one minute. Once no further bidding activity occurs, the sale closes when the time runs out. 

Terms & Conditions of Sale: Sold free and clear of all monetary liens. In order to register to bid, all prospective bidders must provide a cashier’s check in the amount of $190,000.00, signed Terms & Conditions of Sale, and signed Online Bidding Form to Maltz Auctions at 39 Windsor Place, Central Islip, NY 11722 before Wednesday, September 18th at 4:00 pm. 

Buyer’s Premium: A 6% Buyer’s Premium will be added to the Successful Bidder’s high bid to determine the contract price to be paid by the successful bidder. 

Buyer Broker Participation: A 2% Commission will be paid to any properly licensed buy broker who registers a successful buyer in accordance with the buyer broker guidelines. (Please download broker participation form from website.)
 

Necessary documents are available for review online at: https://maltzauctions.com/auction/central square-145-acres/. Have questions? Please reach out to Maltz Auctions at 516.349.7022.