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Home My WebLink About20250989 Rt 9 / South Broadway Special Use Permit Economic Summary Memo 12/26/2025Planning & Development Advisors Creating value by unlocking opportunities 101 Lee Avenue Yonkers, New York 10705 914.552.8413 | email: davidbsmith1992@gmail.com December 8, 2025 To: Mark Pingel, Chairman and Planning Board Members From: David B. Smith Re: Socio-Economic Evaluation South Broadway TM (178.-2-17.11/.12 and 178.-2-17.12) Introduction The following is a technical report on selected anticipated economic benefits from the development of the approximately 55.79-acre properties located on the east side of South Broadway (aka NYS Route 9) also known locally as Tax Map 178.-2-17.11/.12 and 178.-2-17.12, (the “Project Site”). The Project Site is currently vacant. This technical evaluation was prepared on behalf of Matrix BDC JV, LLC (the “Applicant”) as part of an on-going site plan and special permit approval process. The area in the vicinity of the Project Site has been the subject of recent development activity consisting of a 113 key Homewood Suites hotel a Tree House Brewing and Saratoga Pet Resort facility. Proposed Program The proposed action calls for a mixed-use development consisting of the following: 120 key extended stay hotel; a mixed-use building consisting of approximately 8,000 square feet of ground floor commercial with 32 residential units; and, 96 multi-family residential units in four separate buildings all supported by 407 at-grade parking spaces Assessment Methodology For analysis purposes, comparable developments located within the City of Saratoga Springs (the “City”) were surveyed with the more recent projects used as comparable examples, refer to Appendix of this report. Based upon desktop survey information provided by Saratoga County GIS, SDG Image Mate Online, and Info-tax Online (Saratoga Springs CSD) relevant comparable projects were identified. For multi-family residential rental apartment projects total taxes paid was applied to the total number of units to arrive at taxes paid per unit which could be applied to the Proposed Project’s residential component. For the retail components the more recent vintage of uses like the retail building with the Kru Coffee located on Marion Avenue were used to generate projected taxes from the proposed program. For the hotel use, the Homewood Suites development located adjacent to the Project Site was used as a comparison using assessed value per square foot. The estimates presented herein provide an order of magnitude of anticipated benefits resulting from the development program with the understanding that the final assessment will be prepared once the buildings are constructed and the units occupied. South Broadway Mixed Use Development Page 2 of 5 Current Real Estate Property Tax The currently under-utilized site has a current assessment of $1.21 million. Table 1 provides a breakdown as to current real estate taxes paid to all taxing jurisdictions. Table 1 Current Real Estate Tax Revenue Taxing District Assessed Value (AV) Tax Rate/$1000 AV Amount Saratoga Springs CSD $1,210,200 20.65097 $24,991.81 General County and NYS Mandates $1,210,200 4.086369 $4,945.32 General City $1,210,200 6.722200 8,135.20 Total $38,072.33 Source: Info-tax Online, City of Saratoga Springs 2025 City & County Tax Bill Projected Real Estate Taxes As noted above real estate taxes anticipated as part of the development of the Project Site were calculated using a desk top survey of a recent and/or comparable developments in the City of Saratoga Springs, refer to Appendix. Table 2 applies the estimated assessed value methodology to the proposed Project. Table 2 Projected Real Estate Taxes Total Project –Market Value Methodology Source: compiled by Planning & Development Advisors Based on the projections in Table 2, the Proposed Project has the potential to yield an overall increase in tax revenue of approximately $415,147 to all selected taxing jurisdictions. Job Generation Construction Related Impacts For projection purposes, the Applicant has estimated, based on his experience developing other comparable projects throughout the region, that project costs for construction of the entire project (hard, soft and land) will be approximately $81.8 million investment in the City of Saratoga Springs. South Broadway Mixed Use Development Page 3 of 5 Based on the Project Team’s experience in the development and construction field, the proposed project is expected to generate approximately 175 to 200 construction related jobs over an approximately 18-month construction period. According to the Bureau of Labor statistics, construction laborers in New York State earned an annual mean wage of $55,010 as of 2024 1 which equates to approximately $9.6 to 11.02 million in wages for temporary construction related employment. In addition, it is anticipated that County sourced construction materials would be used benefitting the local economy. Full Time Employment Based on the Development Team’s experience, the Proposed Project is expected to generate approximately 71 to 83 new full-time jobs depending on seasonality from management to staff, with an annual mean wage ranging from $36,000 to $100,000. Table 3 , Job Generation, shows that the development would generate approximately $3.2 to $3.6 million annually in full-time wages for permanent employment for the life of the development. This income presents a direct economic benefit to the City of Saratoga Springs. Table 3 Job Generation Proposed Use Category of Jobs Projected # of jobs to be created Est. Avg. Salary1 Cumulative Annual Mean Wage Hotel General Manager 1 $90,000 $90,000 Director of Sales 1 $75,000 $75,000 Assistant G.M. 1 $60,000 $60,000 Housekeeping Supervisor 1 $44,000 $44,000 Maintenance Supervisor 1 $44,000 $44,000 Front desk/housekeeping/breakfast attendant/housepersons 17-29 (depending on seasonality) $36,000 $612,000 to $1,044,000 Residential Property Manager 1 $85,000 $85,000 Leasing Manager 1 $75,000 $75,000 Maintenance Supervisor 1 $80,000 $80,000 Maintenance Technician 1 $65,000 $65,000 Retail Supervisor 9 $63,000 $567,000 Cashier 9 $40,000 $360,000 Retail sales 27 $38,000 $1,026,000 Source: Oakfield Hospitality/Matrix Hotels; BDC Group 1 https://www.bls.gov/oes/oes_research_2024.htm South Broadway Mixed Use Development Page 4 of 5 Resident Spending The proposed new residential community will contribute to the local economy through the purchasing power of its residents. This analysis assesses the anticipated economic impact of resident spending by calculating the expected purchasing power of the proposed 128 new households associated with the proposed development. Source: https://www.bls.gov/regions/northeast/news-release/consumerexpenditures_newyork.htm As indicated in the survey referenced above, households can typically be expected to spend approximately 28 percent of pretax household income on goods and services, according to the Consumer Expenditure Survey published by the U.S. Bureau of Labor Statistics. Table 4 provides a breakdown of the projected total discretionary spending power based on a projection of households spending approximately 33% of income on housing and 28% on goods and services. Housing 33% Goods & Services 28% Other (Including Transportation) 39% TYPICAL PRE-TAX SPENDING Housing Goods & Services Other (Including Transportation) South Broadway Mixed Use Development Page 5 of 5 Table 4 Anticipated Discretionary Spending Therefore, it can be estimated that the residents of the 128 market rate units, would inject roughly $5.5 million into the local and regional economy each year. It is not expected that the entirety of these households’ expenditures will be made at the shops and businesses in the City of Saratoga Springs. However, the Proposed Project is located a little over a mile from the downtown shopping district along with the Ballston Avenue Shopping Plaza which the proposed residential households could take advantage of given its location. Summary The Proposed Project takes a currently vacant and under-performing property and through significant investment of approximately $81.8 million creates value that is translated into the following: • Projected increase in real estate tax revenue estimated at $415,147 for City, School and County jurisdictions over existing conditions; • Creation of approximately 175 to 200 construction related jobs and 71 to 83 full time jobs upon project completion; • Injection of an annually projected $5.7 million of discretionary spending into the greater City of Saratoga Springs community economy; and • While not part of this Technical Analysis, it is noted that the Proposed Project will also generate sales tax, occupancy tax and mortgage recording tax, which would further enhance the economic impact to the local economy and community. APPENDIX A Comparable Properties for Assessment Purposes Residential Comps Property Details - 56 Marion Ave, Saratoga Springs, 12866 - 166.30-2-13 - SWIS: 411501 (Saratoga Springs) Structure Building 1 Number of Identical Buildings 1 Actual Year Built 2016 Effective Year Built Construction Quality 3.0 Condition 4 - Good Building Perimeter 1071 Gross Floor Area 92631 Number of Stories 5.0 Stor y Height 12 Air Conditioning %0% Sprinkler %0% Number of Elevators Basement Perimeter 1071 Basement Sq. Ft 14062 View Property on GIS Map 2025 Final Assessment Information Land Assessed Value $435,200 Total Assessed Value $5,735,400 Equalization Rate 40.50% Full Market Value $14,161,500 Partial Construction No County Taxable $5,735,400 Municipal Taxable $5,735,400 School Taxable $5,735,400 Village Taxable $0 Roll Section 1 Property Description Property Location 56 Marion Ave Property Type 411 - Apartment Neighborhood Code 15194 SWIS 411501 Water Supply 3 - Comm/public Utilities 4 - Gas & elec Sewer Type 3 - Comm/public Zoning NC NC School Saratoga Springs Csd Book 2022 Page 1689 Grid East 686740 Grid North 1551790 Acres 1.00 Front 351.56 Depth 0.00 Survey Map(s)M-720 M-729 M2013213 Agricultural District No Last Proper ty Sale Deed Date 01/13/2022 Deed Book 2022 Deed Page 1689 Contract Date 10/25/2021 Sale Date 12/28/2021 Full Sale Price $24,000,000 Net Sale Price $24,000,000 Usable For Valuation Yes Arms Length Yes Prior Owner Prime Beachwood 2, LLC Owner Information Owner Name Address 1 Address 2 PO Box City State Zip Unit Name Unit Number Hamlet Saratoga Owner LLC 20 Kent St Beacon NY 12508 STE 311 ET AL Hamlet TIC II Owner LLC 20 Kent St Beacon NY 12508 STE 311 Sales Deed Date Deed Book Deed Page Contract Date Sale Date Last Physical Inspection Date Sale Price Net Sale Price Usable for Valuation Arms Length Prior Owner 01/13/2022 2022 1689 10/25/2021 12/28/2021 $24,000,000 $24,000,000 Yes Yes Prime Beachwood 2, LLC 11/22/2016 2016 37166 11/17/2016 $1 $1 No No Saratoga LLC Beechwood Associates/ No Exemption Data Found Land Site #Land Type Acres Front Depth Sq Ft Soil Rating 1 01 - Primary 1.00 Commercial Site Uses Site #Commercial Use Total Units Total Rentable Area (sqft.) 1 A05 - Highrise apt 55 62760 1 D10 - Row retail 0 15810 1 J02 - Small garage 0 14062 Improvements Site #Structure Code SqFt Dimensions Quantity Overall Condition Actual Year Built Effective Year Built 1 RP6 - Porch-up cov 112.00 x 44.00 2.00 3 - Normal 2016 1 RP6 - Porch-up cov 166.00 x 62.00 2.00 3 - Normal 2016 1 RP6 - Porch-up cov 91.00 x 40.00 2.00 3 - Normal 2016 1 RP6 - Porch-up cov 88.00 x 38.00 2.00 3 - Normal 2016 1 RP6 - Porch-up cov 78.00 x 38.00 2.00 3 - Normal 2016 1 RP6 - Porch-up cov 200.00 x 6.00 6.00 3 - Normal 2016 1 RP6 - Porch-up cov 208.00 x 68.00 4.00 3 - Normal 2016 1 RP6 - Porch-up cov 104.00 x 42.00 2.00 3 - Normal 2016 Special Districts Code Description Type Primary Units Secondar y Units SE010 - County sewer dist #1 A 0.00 0.00 Property Details - 25 Whistler Ct, Saratoga Springs, 12866 - 166.-1-22 - SWIS: 411589 (Saratoga Springs) Structure Building 1 Number of Identical Buildings 2 Actual Year Built 2018 Effective Year Built Construction Quality 2.5 Condition 4 - Good Building Perimeter 440 Gross Floor Area 41700 Number of Stories 4.0 Stor y Height 10 Air Conditioning %100% Sprinkler %100% Number of Elevators Basement Perimeter 432 Basement Sq. Ft 10552 View Property on GIS Map 2025 Final Assessment Information Land Assessed Value $446,700 Total Assessed Value $4,500,000 Equalization Rate 40.50% Full Market Value $11,111,100 Partial Construction No County Taxable $4,500,000 Municipal Taxable $4,500,000 School Taxable $4,500,000 Village Taxable $0 Roll Section 1 Property Description Property Location 25 Whistler Ct Property Type 411 - Apartment Neighborhood Code 15194 SWIS 411589 Water Supply 3 - Comm/public Utilities 4 - Gas & elec Sewer Type 3 - Comm/public Zoning NC NC School Saratoga Springs Csd Book 2017 Page 33454 Grid East 691455 Grid North 1553200 Acres 1.92 Front 167.48 Depth 0.00 Survey Map(s)M-189 E-160 E-164 M2015223 Agricultural District No Last Proper ty Sale Deed Date 10/23/2017 Deed Book 2017 Deed Page 33454 Contract Date Sale Date 10/19/2017 Full Sale Price $1 Net Sale Price $1 Usable For Valuation No Arms Length No Prior Owner Apartments LLC Saratoga Excelsior Owner Information Owner Name Address 1 Address 2 PO Box City State Zip Unit Name Unit Number Apartments I LLC Saratoga Excelsior 1732 Western Ave Albany NY 12203 Sales Deed Date Deed Book Deed Page Contract Date Sale Date Last Physical Inspection Date Sale Price Net Sale Price Usable for Valuation Arms Length Prior Owner 10/23/2017 2017 33454 10/19/2017 $1 $1 No No Apartments LLC Saratoga Excelsior No Exemption Data Found Land Site #Land Type Acres Front Depth Sq Ft Soil Rating 1 01 - Primary 1.92 Commercial Site Uses Site #Commercial Use Total Units Total Rentable Area (sqft.) 1 A05 - Highrise apt 70 0 1 J02 - Small garage 0 21104 No Improvement Data Found Special Districts Code Description Type Primary Units Secondar y Units SE010 - County sewer dist #1 A 0.00 0.00 Property Details - 3 Station Ln, Saratoga Springs, 12866 - 165.-2-76.1 - SWIS: 411589 (Saratoga Springs) Structure Building 1 Number of Identical Buildings 1 Actual Year Built 2023 Effective Year Built 2023 Construction Quality 3.0 Condition 4 - Good Building Perimeter 1026 Gross Floor Area 14982 Number of Stories 3.0 Stor y Height 9 Air Conditioning %0% Sprinkler %0% Number of Elevators Basement Perimeter Basement Sq. Ft Building 2 Number of Identical Buildings 1 Actual Year Built 2023 Effective Year Built 2023 Construction Quality 3.0 Condition 4 - Good Building Perimeter 990 Gross Floor Area 13902 Number of Stories 3.0 Stor y Height 9 Air Conditioning %0% Sprinkler %0% Number of Elevators Basement Perimeter Basement Sq. Ft Building 3 Number of Identical Buildings 1 Actual Year Built 2023 Effective Year Built 2023 Construction Quality 3.0 Condition 4 - Good Building Perimeter 822 Gross Floor Area 8430 Number of Stories 3.0 Stor y Height 9 Air Conditioning %0% Sprinkler %0% Number of Elevators Basement Perimeter Basement Sq. Ft View Property on GIS Map 2025 Final Assessment Information Land Assessed Value $265,100 Total Assessed Value $2,493,750 Equalization Rate 40.50% Full Market Value $6,157,400 Partial Construction No County Taxable $2,493,750 Municipal Taxable $2,493,750 School Taxable $2,493,750 Village Taxable $0 Roll Section 1 Property Description Property Location 3 Station Ln Property Type 411 - Apartment Neighborhood Code 15841 SWIS 411589 Water Supply 3 - Comm/public Utilities 4 - Gas & elec Sewer Type 3 - Comm/public Zoning NC NC School Saratoga Springs Csd Book 2021 Page 43796 Grid East 677033 Grid North 1549073 Acres 8.44 Front 51.20 Depth 0.00 Survey Map(s)B-113 Agricultural District No Last Proper ty Sale Deed Date 12/03/2021 Deed Book 2021 Deed Page 43796 Contract Date Sale Date 11/24/2021 Full Sale Price $1 Net Sale Price $1 Usable For Valuation No Arms Length No Prior Owner Richard Askew Owner Information Owner Name Address 1 Address 2 PO Box City State Zip Unit Name Unit Number Station Lane LLC 624 New Loudon Rd Latham NY 12110 Sales Deed Date Deed Book Deed Page Contract Date Sale Date Last Physical Inspection Date Sale Price Net Sale Price Usable for Valuation Arms Length Prior Owner 12/03/2021 2021 43796 11/24/2021 $1 $1 No No Richard Askew 04/25/2017 2017 12746 04/19/2017 $165,000 $165,000 Yes Yes Kimberly Martin No Exemption Data Found Land Site #Land Type Acres Front Depth Sq Ft Soil Rating 1 01 - Primary 1.30 1 14 - Wetland 4.21 1 12 - Rear 2.93 Commercial Site Uses Site #Commercial Use Total Units Total Rentable Area (sqft.) 1 A01 - Walk-up apt 30 37314 Improvements Site #Structure Code SqFt Dimensions Quantity Overall Condition Actual Year Built Effective Year Built 1 RP2 - Porch-coverd 110.00 6.00 3 - Normal 2023 1 RP6 - Porch-up cov 110.00 12.00 3 - Normal 2023 1 RP6 - Porch-up cov 50.00 6.00 3 - Normal 2023 1 RP2 - Porch-coverd 50.00 3.00 3 - Normal 2023 Special Districts Code Description Type Primary Units Secondar y Units SE010 - County sewer dist #1 A 0.00 0.00 WA001 - West ave sp dist S 0.00 0.00 Property Details - 151 Jefferson St, Saratoga Springs - 178.44-3-7 - SWIS: 411501 (Saratoga Springs) Structure Building 1 Number of Identical Buildings 5 Actual Year Built 1973 Effective Year Built 2000 Construction Quality 2.0 Condition 3 - Normal Building Perimeter 972 Gross Floor Area 17520 Number of Stories 3.0 Stor y Height 12 Air Conditioning %0% Sprinkler %0% Number of Elevators Basement Perimeter Basement Sq. Ft View Property on GIS Map 2025 Final Assessment Information Land Assessed Value $824,300 Total Assessed Value $4,567,400 Equalization Rate 40.50% Full Market Value $11,277,500 Partial Construction No County Taxable $4,567,400 Municipal Taxable $4,567,400 School Taxable $4,567,400 Village Taxable $0 Roll Section 1 Property Description Property Location 151 Jefferson St Property Type 411 - Apartment Neighborhood Code 15192 SWIS 411501 Water Supply 3 - Comm/public Utilities 3 - Electric Sewer Type 3 - Comm/public Zoning UR4 UR4 School Saratoga Springs Csd Book 1481 Page 390 Grid East 684403 Grid North 1542913 Acres 4.65 Front 363.50 Depth 0.00 Agricultural District No Last Proper ty Sale No Sales Data Found Owner Information Owner Name Address 1 Address 2 PO Box City State Zip Unit Name Unit Number Court Apartments Whitmore 1732 Western Ave Albany NY 12203 Llc 1732 Western Ave Albany NY 12203 Sales Deed Date Deed Book Deed Page Contract Date Sale Date Last Physical Inspection Date Sale Price Net Sale Price Usable for Valuation Arms Length Prior Owner No data available in table No Exemption Data Found Land Site #Land Type Acres Front Depth Sq Ft Soil Rating 1 01 - Primary 202554 Commercial Site Uses Site #Commercial Use Total Units Total Rentable Area (sqft.) 1 A03 - Garden apt 110 87600 Improvements Site #Structure Code SqFt Dimensions Quantity Overall Condition Actual Year Built Effective Year Built 1 RP6 - Porch-up cov 30.00 x 3.00 20.00 3 - Normal 1973 1 CP6 - Canpy-w/slab 30.00 x 3.00 10.00 3 - Normal 1973 1 RP6 - Porch-up cov 30.00 x 6.00 20.00 3 - Normal 1973 1 CP6 - Canpy-w/slab 30.00 x 6.00 10.00 3 - Normal 1973 1 FC1 - Shed-machine 12.00 x 20.00 1.00 3 - Normal 1973 1 RG4 - Gar-1.0 det 20.00 x 22.00 1.00 3 - Normal 2000 Special Districts Code Description Type Primary Units Secondar y Units SE010 - County sewer dist #1 A 0.00 0.00 Property Details - 130 Excelsior Ave Rear , Saratoga Springs, 12866 - 166.-1-15.131 - SWIS: 411589 (Saratoga Springs) Structure Building 1 Number of Identical Buildings Actual Year Built 2017 Effective Year Built Construction Quality 2.5 Condition 4 - Good Building Perimeter 1261 Gross Floor Area 99174 Number of Stories 4.0 Stor y Height 12 Air Conditioning %100% Sprinkler %100% Number of Elevators 2 Basement Perimeter Basement Sq. Ft View Property on GIS Map 2025 Final Assessment Information Land Assessed Value $311,500 Total Assessed Value $4,000,000 Equalization Rate 40.50% Full Market Value $9,876,500 Partial Construction No County Taxable $4,000,000 Municipal Taxable $4,000,000 School Taxable $4,000,000 Village Taxable $0 Roll Section 1 Property Description Property Location 130 Excelsior Ave Rear Property Type 411 - Apartment Neighborhood Code 15194 SWIS 411589 Water Supply 3 - Comm/public Utilities 4 - Gas & elec Sewer Type 3 - Comm/public Zoning NC NC School Saratoga Springs Csd Book 2015 Page 19112 Grid East 687916 Grid North 1551388 Acres 0.43 Front 0.00 Depth 0.00 Survey Map(s)D-179 Agricultural District No Last Proper ty Sale No Sales Data Found Owner Information Owner Name Address 1 Address 2 PO Box City State Zip Unit Name Unit Number 130 Excelsior LLC 9 Hampstead Pl Saratoga Springs NY 12866 Ste 108 Sales Deed Date Deed Book Deed Page Contract Date Sale Date Last Physical Inspection Date Sale Price Net Sale Price Usable for Valuation Arms Length Prior Owner No data available in table No Exemption Data Found Land Site #Land Type Acres Front Depth Sq Ft Soil Rating 1 01 - Primary 0.43 Commercial Site Uses Site #Commercial Use Total Units Total Rentable Area (sqft.) 1 D08 - Small retail 0 2682 1 A01 - Walk-up apt 65 96492 Improvements Site #Structure Code SqFt Dimensions Quantity Overall Condition Actual Year Built Effective Year Built 1 RP6 - Porch-up cov 6.00 x 10.00 4.00 3 - Normal 2017 1 RP2 - Porch-coverd 6.00 x 10.00 2.00 3 - Normal 2017 1 RP6 - Porch-up cov 12.00 x 6.00 28.00 3 - Normal 2017 1 RP2 - Porch-coverd 12.00 x 6.00 14.00 3 - Normal 2017 1 RP2 - Porch-coverd 174.00 2.00 3 - Normal 2017 1 RP2 - Porch-coverd 57.00 x 12.00 1.00 3 - Normal 2017 1 RP6 - Porch-up cov 11.00 x 6.00 4.00 3 - Normal 2017 1 RP2 - Porch-coverd 11.00 x 6.00 2.00 3 - Normal 2017 Special Districts Code Description Type Primary Units Secondary Units SE010 - County sewer dist #1 A 0.00 0.00 Property Details - 246 West Ave , Saratoga Springs, 12866 - 178.33-1-25 - SWIS: 411501 (Saratoga Springs) Structure Building 1 Number of Identical Buildings 1 Actual Year Built 2018 Effective Year Built Construction Quality 2.5 Condition 4 - Good Building Perimeter 451 Gross Floor Area 18174 Number of Stories 2.0 Stor y Height 10 Air Conditioning %100% Sprinkler %0% Number of Elevators Basement Perimeter 453 Basement Sq. Ft 9203 View Property on GIS Map 2025 Final Assessment Information Land Assessed Value $258,000 Total Assessed Value $1,696,320 Equalization Rate 40.50% Full Market Value $4,188,400 Partial Construction No County Taxable $1,696,320 Municipal Taxable $1,696,320 School Taxable $1,696,320 Village Taxable $0 Roll Section 1 Property Description Property Location 246 West Ave Property Type 411 - Apartment Neighborhood Code 15192 SWIS 411501 Water Supply 3 - Comm/public Utilities 4 - Gas & elec Sewer Type 3 - Comm/public Zoning UN UN School Saratoga Springs Csd Book 2020 Page 532 Grid East 678740 Grid North 1543658 Acres 0.57 Front 77.15 Depth 0.00 Survey Map(s)AA-121 C2P11F2 Agricultural District No Last Proper ty Sale Deed Date 01/07/2020 Deed Book 2020 Deed Page 532 Contract Date 10/11/2019 Sale Date 12/31/2019 Full Sale Price $4,100,000 Net Sale Price $4,100,000 Usable For Valuation Yes Arms Length Yes Prior Owner 246 West Avenue LLC Owner Information Owner Name Address 1 Address 2 PO Box City State Zip Unit Name Unit Number Nanak Management LLC 7 Cinnamon Ln Clifton Park NY 12065 Sales Deed Date Deed Book Deed Page Contract Date Sale Date Last Physical Inspection Date Sale Price Net Sale Price Usable for Valuation Arms Length Prior Owner 01/07/2020 2020 532 10/11/2019 12/31/2019 $4,100,000 $4,100,000 Yes Yes 246 West Avenue LLC 03/07/2019 2019 6341 01/31/2019 $1 $1 No No Hodorowski Holdings LLC 01/17/2017 2017 3195 08/12/2016 01/17/2017 $675,000 $675,000 No No Saratoga West LLC No Exemption Data Found Land Site #Land Type Acres Front Depth Sq Ft Soil Rating 1 01 - Primary 0.57 Commercial Site Uses Site #Commercial Use Total Units Total Rentable Area (sqft.) 1 A01 - Walk-up apt 16 18174 1 J02 - Small garage 0 6340 1 E02 - Walk-up off 0 2070 1 F05 - Row storage 0 793 No Improvement Data Found Special Districts Code Description Type Primary Units Secondar y Units SE010 - County sewer dist #1 A 0.00 0.00 Property Details - 14 Tait Ln, Saratoga Springs, 12866 - 165.-2-90 - SWIS: 411589 (Saratoga Springs) Structure Building 1 Number of Identical Buildings 1 Actual Year Built 2024 Effective Year Built 2024 Construction Quality 2.0 Condition 4 - Good Building Perimeter 728 Gross Floor Area 9016 Number of Stories 2.0 Stor y Height 10 Air Conditioning %0% Sprinkler %0% Number of Elevators Basement Perimeter Basement Sq. Ft Building 2 Number of Identical Buildings 3 Actual Year Built 2024 Effective Year Built 2024 Construction Quality 2.0 Condition 4 - Good Building Perimeter 684 Gross Floor Area 7708 Number of Stories 2.0 Stor y Height 10 Air Conditioning %0% Sprinkler %0% Number of Elevators Basement Perimeter Basement Sq. Ft Building 3 Number of Identical Buildings 3 Actual Year Built 2024 Effective Year Built 2024 Construction Quality 2.0 Condition 4 - Good Building Perimeter 1288 Gross Floor Area 21628 Number of Stories 3.0 Stor y Height 10 Air Conditioning %0% Sprinkler %0% Number of Elevators Basement Perimeter Basement Sq. Ft Building 4 Number of Identical Buildings 5 Actual Year Built 2024 Effective Year Built 2024 Construction Quality 2.0 Condition 4 - Good Building Perimeter 1434 Gross Floor Area 24306 Number of Stories 3.0 Stor y Height 10 Air Conditioning %0% Sprinkler %0% Number of Elevators Basement Perimeter Basement Sq. Ft No image found for this Parcel. View Property on GIS Map 2025 Final Assessment Information Land Assessed Value $356,900 Total Assessed Value $10,100,000 Equalization Rate 40.50% Full Market Value $24,938,272 Partial Construction No County Taxable $0 Municipal Taxable $0 Property Description Property Location 14 Tait Ln Property Type 411 - Apartment Neighborhood Code 15841 SWIS 411589 Water Supply 3 - Comm/public Utilities 4 - Gas & elec Sewer Type 3 - Comm/public Last Proper ty Sale Deed Date 10/19/2022 Deed Book 2022 Deed Page 33568 Contract Date 07/09/2021 Sale Date 10/19/2022 Full Sale Price $3,000,000 Net Sale Price $3,000,000 School Taxable $0 Village Taxable $0 Roll Section 8 Zoning UN UN School Saratoga Springs Csd Book 2022 Page 33568 Grid East 675858 Grid North 1549215 Acres 13.80 Front 381.53 Depth 0.00 Survey Map(s)S-390 M2021129 Agricultural District No Usable For Valuation Yes Arms Length No Prior Owner Denton Road LLC Owner Information Owner Name Address 1 Address 2 PO Box City State Zip Unit Name Unit Number Development Fund Cor Tait Lane Reserve Housing 1228 Euclid Ave 4th Floor Cleveland OH 44115 Sales Deed Date Deed Book Deed Page Contract Date Sale Date Last Physical Inspection Date Sale Price Net Sale Price Usable for Valuation Arms Length Prior Owner 10/19/2022 2022 33568 07/09/2021 10/19/2022 $3,000,000 $3,000,000 Yes No Denton Road LLC Exemptions Code Description Amount Exemption %Start Year End Year 12350 - PUB AUTH $10,100,000.00 2023 Land Site #Land Type Acres Front Depth Sq Ft Soil Rating 1 01 - Primary 1.00 1 04 - Residual 12.80 Commercial Site Uses Site #Commercial Use Total Units Total Rentable Area (sqft.) 1 A08 - ETPA Cn/Sub Apt 202 218554 No Improvement Data Found Special Districts Code Description Type Primary Units Secondar y Units SE010 - County sewer dist #1 A 0.00 0.00 Retail Comps Property Details - 8 Circular St, Saratoga Springs, 12866 - 165.83-2-62 - SWIS: 411501 (Saratoga Springs) Structure Building 1 Number of Identical Buildings 1 Actual Year Built 1992 Effective Year Built 2000 Construction Quality 2.0 Condition 3 - Normal Building Perimeter 468 Gross Floor Area 7518 Number of Stories 1.0 Stor y Height 12 Air Conditioning %100% Sprinkler %0% Number of Elevators Basement Perimeter Basement Sq. Ft View Property on GIS Map 2025 Final Assessment Information Land Assessed Value $402,300 Total Assessed Value $869,000 Equalization Rate 40.50% Full Market Value $2,145,700 Partial Construction No County Taxable $869,000 Municipal Taxable $869,000 School Taxable $869,000 Village Taxable $0 Roll Section 1 Property Description Property Location 8 Circular St Property Type 464 - Office bldg. Neighborhood Code 15194 SWIS 411501 Water Supply 3 - Comm/public Utilities 4 - Gas & elec Sewer Type 3 - Comm/public Zoning NC NC School Saratoga Springs Csd Book 2019 Page 5597 Grid East 682755 Grid North 1546115 Acres 0.66 Front 232.00 Depth 0.00 Survey Map(s)C1P10F2 Agricultural District No Last Proper ty Sale Deed Date 02/28/2019 Deed Book 2019 Deed Page 5597 Contract Date 02/01/2019 Sale Date 02/10/2019 Full Sale Price $1 Net Sale Price $1 Usable For Valuation No Arms Length No Prior Owner Dake Bros Inc Owner Information Owner Name Address 1 Address 2 PO Box City State Zip Unit Name Unit Number Stewarts Shops Corp 435 Saratoga Springs NY 12866 Sales Deed Date Deed Book Deed Page Contract Date Sale Date Last Physical Inspection Date Sale Price Net Sale Price Usable for Valuation Arms Length Prior Owner 02/28/2019 2019 5597 02/01/2019 02/10/2019 $1 $1 No No Dake Bros Inc No Exemption Data Found Land Site #Land Type Acres Front Depth Sq Ft Soil Rating 1 01 - Primary 0.66 Commercial Site Uses Site #Commercial Use Total Units Total Rentable Area (sqft.) 1 E02 - Walk-up off 0 3684 1 D08 - Small retail 0 3834 Improvements Site #Structure Code SqFt Dimensions Quantity Overall Condition Actual Year Built Effective Year Built 1 LP4 - Pavng-asphlt 12000.00 x 4.00 1.00 3 - Normal 1980 1 LP3 - Patio-concr 567.00 x 6.00 1.00 3 - Normal 1968 1 CP6 - Canpy-w/slab 447.00 1.00 3 - Normal 1968 Special Districts Code Description Type Primary Units Secondar y Units SE010 - County sewer dist #1 A 0.00 0.00 Property Details - 52 Marion Ave, Saratoga Springs, 12866 - 166.30-2-12 - SWIS: 411501 (Saratoga Springs) Structure Building 1 Number of Identical Buildings 1 Actual Year Built 2015 Effective Year Built Construction Quality 3.0 Condition 4 - Good Building Perimeter 710 Gross Floor Area 20134 Number of Stories 1.0 Stor y Height 16 Air Conditioning %100% Sprinkler %100% Number of Elevators Basement Perimeter Basement Sq. Ft Building 2 Number of Identical Buildings 1 Actual Year Built 2015 Effective Year Built Construction Quality 3.0 Condition 4 - Good Building Perimeter 702 Gross Floor Area 24456 Number of Stories 2.0 Stor y Height 16 Air Conditioning %100% Sprinkler %100% Number of Elevators Basement Perimeter Basement Sq. Ft View Property on GIS Map 2025 Final Assessment Information Land Assessed Value $465,700 Total Assessed Value $4,000,000 Equalization Rate 40.50% Full Market Value $9,876,543 Partial Construction No County Taxable $4,000,000 Municipal Taxable $4,000,000 School Taxable $4,000,000 Village Taxable $0 Roll Section 1 Property Description Property Location 52 Marion Ave Property Type 451 - Reg shop ctr Neighborhood Code 15194 SWIS 411501 Water Supply 3 - Comm/public Utilities 4 - Gas & elec Sewer Type 3 - Comm/public Zoning NC NC School Saratoga Springs Csd Book 2022 Page 18877 Grid East 686680 Grid North 1551975 Acres 3.44 Front 319.70 Depth 0.00 Survey Map(s)M-720 M-729 M2013213 Agricultural District No Last Proper ty Sale Deed Date 06/06/2022 Deed Book 2022 Deed Page 18877 Contract Date 01/26/2022 Sale Date 04/27/2022 Full Sale Price $16,150,000 Net Sale Price $16,150,000 Usable For Valuation Yes Arms Length Yes Prior Owner Saratoga Retail Owner LLC Owner Information Owner Name Address 1 Address 2 PO Box City State Zip Unit Name Unit Number FM Saratoga LLC 615 Route 32 Highland Mills NY 10930 Sales Deed Date Deed Book Deed Page Contract Date Sale Date Last Physical Inspection Date Sale Price Net Sale Price Usable for Valuation Arms Length Prior Owner 06/06/2022 2022 18877 01/26/2022 04/27/2022 $16,150,000 $16,150,000 Yes Yes Saratoga Retail Owner LLC 01/05/2022 2022 354 10/25/2021 12/29/2021 $16,000,000 $16,000,000 Yes Yes Prime Beechwood, LLC No Exemption Data Found Land Site #Land Type Acres Front Depth Sq Ft Soil Rating 1 01 - Primary 3.44 Commercial Site Uses Site #Commercial Use Total Units Total Rentable Area (sqft.) 1 D04 - Nbhd center 0 20134 1 D06 - Supermarket 0 24456 No Improvement Data Found Special Districts Code Description Type Primary Units Secondary Units SE010 - County sewer dist #1 A 0.00 0.00 Property Details - 170 South Broadway , Saratoga Springs - 178.27-1-9 - SWIS: 411501 (Saratoga Springs) Structure Building 1 Number of Identical Buildings 1 Actual Year Built 1985 Effective Year Built 2000 Construction Quality 2.0 Condition 3 - Normal Building Perimeter 380 Gross Floor Area 7504 Number of Stories 1.0 Stor y Height 12 Air Conditioning %25% Sprinkler %0% Number of Elevators Basement Perimeter Basement Sq. Ft View Property on GIS Map 2025 Final Assessment Information Land Assessed Value $503,400 Total Assessed Value $875,800 Equalization Rate 40.50% Full Market Value $2,162,500 Partial Construction No County Taxable $875,800 Municipal Taxable $875,800 School Taxable $875,800 Village Taxable $0 Roll Section 1 Property Description Property Location 170 South Broadway Property Type 452 - Nbh shop ctr Neighborhood Code 15191 SWIS 411501 Water Supply 3 - Comm/public Utilities 4 - Gas & elec Sewer Type 3 - Comm/public Zoning NC NC School Saratoga Springs Csd Book 1497 Page 738 Grid East 682447 Grid North 1544986 Acres 0.64 Front 200.00 Depth 140.00 Survey Map(s)EE-49 Agricultural District No Last Proper ty Sale No Sales Data Found Owner Information Owner Name Address 1 Address 2 PO Box City State Zip Unit Name Unit Number Awm Company Llc 511 Broadway Saratoga Springs NY 12866 Fl 1 Sales Deed Date Deed Book Deed Page Contract Date Sale Date Last Physical Inspection Date Sale Price Net Sale Price Usable for Valuation Arms Length Prior Owner No data available in table No Exemption Data Found Land Site #Land Type Acres Front Depth Sq Ft Soil Rating 1 01 - Primary 27878 Commercial Site Uses Site #Commercial Use Total Units Total Rentable Area (sqft.) 1 D04 - Nbhd center 0 7504 Improvements Site #Structure Code SqFt Dimensions Quantity Overall Condition Actual Year Built Effective Year Built 1 RN2 - Cold stor rm 48.00 x 1.00 1.00 3 - Normal 1984 1 LP4 - Pavng-asphlt 9000.00 x 4.00 1.00 3 - Normal 1984 Special Districts Code Description Type Primary Units Secondar y Units SE010 - County sewer dist #1 A 0.00 0.00 Hotel Comp Property Details - 3368 South Broadway , Saratoga Springs, 12866 - 178.-2-16 - SWIS: 411589 (Saratoga Springs) Structure Building 1 Number of Identical Buildings 1 Actual Year Built 2017 Effective Year Built Construction Quality 2.5 Condition 4 - Good Building Perimeter 1353 Gross Floor Area 105772 Number of Stories 4.0 Stor y Height 12 Air Conditioning %100% Sprinkler %100% Number of Elevators 4 Basement Perimeter Basement Sq. Ft View Property on GIS Map 2025 Final Assessment Information Land Assessed Value $479,400 Total Assessed Value $7,000,000 Equalization Rate 40.50% Full Market Value $17,284,000 Partial Construction No County Taxable $7,000,000 Municipal Taxable $7,000,000 School Taxable $7,000,000 Village Taxable $0 Roll Section 1 Property Description Property Location 3368 South Broadway Property Type 414 - Hotel Neighborhood Code 15194 SWIS 411589 Water Supply 3 - Comm/public Utilities 4 - Gas & elec Sewer Type 3 - Comm/public Zoning GC-R GC-R School Saratoga Springs Csd Book 2022 Page 31739 Grid East 682768 Grid North 1538436 Acres 5.17 Front 400.88 Depth 0.00 Agricultural District No Last Proper ty Sale Deed Date 10/05/2022 Deed Book 2022 Deed Page 31739 Contract Date 07/13/2022 Sale Date 09/27/2022 Full Sale Price $15,250,000 Net Sale Price $15,250,000 Usable For Valuation Yes Arms Length Yes Prior Owner Broadway LLC Turf Pioneer South Owner Information Owner Name Address 1 Address 2 PO Box City State Zip Unit Name Unit Number 3368 S Broadway Hotel LLC 909 Linden Ave Rochester NY 14625 Sales Deed Date Deed Book Deed Page Contract Date Sale Date Last Physical Inspection Date Sale Price Net Sale Price Usable for Valuation Arms Length Prior Owner 10/05/2022 2022 31739 07/13/2022 09/27/2022 $15,250,000 $15,250,000 Yes Yes Broadway LLC Turf Pioneer South 10/17/2016 2016 32600 02/03/2016 $1 $1 No No Turf Saratoga South LLC No Exemption Data Found Land Site #Land Type Acres Front Depth Sq Ft Soil Rating 1 01 - Primary 2.00 1 04 - Residual 3.17 Commercial Site Uses Site #Commercial Use Total Units Total Rentable Area (sqft.) 1 B01 - Hotel 113 103347 1 Z01 - Spa/Pool/YMCA 0 2425 Improvements Site #Structure Code SqFt Dimensions Quantity Overall Condition Actual Year Built Effective Year Built 1 CP6 - Canpy-w/slab 12.00 x 6.00 1.00 3 - Normal 2017 Special Districts Code Description Type Primary Units Secondar y Units SE010 - County sewer dist #1 A 0.00 0.00