A Vision
A buyer would have at the least 3 specific ways to go when purchasing the Peacedale property.
1. Buy the property and use what is in
place with a Luke warm thought regarding the future of the property if not for
them but their heirs.
2. Using the market as a theme either leaving the antique dealer with its
rental income in place or resurrecting it back to the original farm market that
could serve as the corner post of a health oriented development.
3. Throw everything to the wind, disregard the buildings and their worth and
concentrate on marketing it for a pure commercial/industrial development that
would include serious integration of the 300 acre Peacedale envelope in which we
own 100 acres of it.
It is important that because of the Peacedale 100 acres fronting all of the properties in the 300 acre envelope that the purchaser would determine the mix. Nothing can go forward to any degree unless the new owner approves it.
The property is in a very liberal zoning classification of the Town regarding allowed uses, because of its isolation from the Towns residents using the B-1 Interchange as a large buffer.
In the first two options listed above agricultural and marketing goals along with self sustainability for family, friends and associates could very well be the priority of a new owner considering the multiple living space on the property with the eventual developmental potential of the property left in the hands of their heirs. Peacedale Farm Market is a land mark and could easily be resurrected to its past prominence in the farm market industry.
With the experience we had in close to a 50 year period operating Peacedale Farms and in particular the roadside market, we would commit ourselves in an advisory capacity to get an owner started in a Farm and Market operation.
The mix of products in the approximate 3000 square feet market building could involve during the growing season all types of produce preferably organically grown by local farmers large and small. We had a very successful relationship with home gardeners that grew all types of different fruits and vegetables. We never had a glut of product. When a product was delivered either by our farm operation or by local growers, it was consumed at times faster than we could display it.
We would encourage a market operation to bring back our bakery operation and concentrate the products to perhaps gluten free and other health oriented and prepared products.
Local grown meats as in free range chickens, beef and buffalo could be considered. Peacedale has a history going back hundreds of years with free range chickens and ducks. We would encourage a full line of nuts and seed similar to a Whole Foods concept.
This market could operate on a all year round basis.
Parcel Options
There are different options that can be provided.
One option would be where a buyer could consider the purchase of a modest parcel consisting of the home, the small out building, the 8 unit apartment house and the original roadside market building on the Route 9 frontage. These buildings are clearly shown in the epeacedale.com website. Carving out this option would require a subdivision procedure and months of process. We have a 63 acre package that consists of 3 deeded parcels that would not require subdivision and would make the property immediately available.
Larger packages can be negotiated as well. We have a neighbor to our west with approximately 35 acres that could be included at a very reasonable price that would fit in nicely with a conservation easement application.
With a conservation easement approach on the back land along with the depreciation schedule of approximately 1.5 mil dollars worth of buildings and other write offs this could be a huge incentive for a buyer.
Prices of these packages can be discussed and property shown with a visit.
The packages above are owned by us and are part of the Peacedale Ecovillage and clear titles on 3 of the key parcels would allow for a swift transfer and the possession of the buildings including the home.
For those who are interested in the developmental potential of the area.
The proposed Peacedale Ecovillage development encompasses approximately 300 acres owned by 5 individual owners. We commissioned a master plan (link below) that has been conceptually constructed by Brewer Engineering of East Greenbush New York. They have designed the properties around a long term comprehensive traffic and infrastructure plan, as well as projected placement of residential, commercial, office and some clean light industrial uses in appropriate areas. This plan would serve any of the 3 concepts detailed at the start of this material.
A traffic plan was mandated by the Town and the New York State DOT because of the enormous safety concerns generated by the amount of traffic (approximately 20 M per day) and other traffic considerations including traffic generated off of the 2 Interstate connections bordering the property. In fact we have studies that show site visibility before exit from all directions on both Interstates. In our projected 300 acre use plan there is an area overlooking both Interstates that would be perfect for a hotel, perhaps a destination facility and would be an asset to the adjacent golf facility.
Although the current master plan indicates potential big box uses, we envision smaller Eco type applications (Similar to our number 2 choice at the start of this feature) including a super market that focuses on organic and other health oriented food sources along with standard products to serve the local community as well. There are hypothetical residential type uses planned in areas off the road, condos, apartments, duplexes etc. In our previous vision regarding the farm market as a corner stone we believe this application would fit in nicely with the other carriage trade/health oriented uses in the development.
In addition to the surrounding areas 5 rather affluent townships there is close to 20,000 cars per day passing the site as well as many thousands traveling the two interstate highways that borders the property.
Link below is a Master Plan of the 300 acre Peacedale Envelope.
Click below for Master plan.
In addition to the on site support of this development the below demographics clearly indicates generous peripheral support around the area even to the extent of a 1 hour drive time.
1. Located in the precise center of the Northeast. Approximately 15 miles south east of the State Capital of New York.
2. Located on a major double interstate 1-87- and I-90
3. Approximate population within a 1 hours drive, 5,000,000
4. Approximate population within a 15 minute drive, dead center of 5 affluent rural Townships Schodack, Kinderhook, the Chatham's, Southern areas of East Greenbush and Stuyvesant, 100,000 plus
Planned Town municipal
water is designated on master plan. A large sand filtration area has been
designated for effluent and eventually sewer treatment. There are large
water reserves on the property.
If the potential buyer is attracted to the idea of developing an ecovillage,
residences, turn key condos, town houses, apartments, commercial services,
offices, perhaps some health and medical oriented establishments it will cater
to metropolitan interests as well as the
5 rather affluent Townships that surround this property. There are numerous
urban interests some for second homes who made a transition to the area after
the 9-11 attacks and that includes branches of their different business's that
dot the country side. Some of these business's have maintained their presence in
the metropolitan areas and frequent the rail service in and out of the city.
A Peacedale purchaser would have no problems moving their present business
activities to Peacedale because of it favorable zoning classification that mixes
residential and commercial together.
1031 deferment
Incidentally for those who contemplate selling property and are faced with huge capital gains and are not acquainted with the 1031 deferment laws, we are and would welcome an opportunity to work with the buyers attorney regarding the critical timing parameters involved with 1031 deferments. Between capital gains deferment, conservation easement potential, depreciation of the buildings along with a modest income return from property rentals the cost of this property becomes very attractive.
63 acres package and buildings have been reduced from $ 3,100,000 to $2, 800,000
I personally can be reached at
954-922-9181 before 8 P.M. EST
Bob Martino Peacedale Farms