Hartford Votes To Take Capitol West Building

Property Owners Says Matter Could End Up In Court

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Capitol West Buidling
Photo:Courtesy Kenneth Gosselin/The Hartford Courant
Capitol West
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Capitol West

 

The Hartford City Council has approved a plan backed by Mayor Pedro Segarra to take and tear down a piece of private property off I-84.  But as WNPR's Jeff Cohen reports, the attorney for the property's owners says he's still considering his legal options.
 
The city council unanimously approved the plan to take the structure known as the Capitol West building Monday night.  In a press release, Segarra called it a "signature eyesore."
 
Various business groups, companies, and neighborhood advocates have called for the vacant building to come down.  Segarra says he wants to use the site for economic development.
 
Coleman Levy is the attorney for the building's owners, and he says that the problem isn't the building's condition.  The problem, he says, is that the city doesn't want to pay fair market value.  
 
Levy: They've noticed that the most that they offered was a million dollars. 
 
Cohen: And that's what you bought it for?
 
Levy: Correct.
 
Cohen: And that's not enough?
 
Levy: Correct. My client has put a new roof, he's done other things, he's handled the property, the taxes have all been paid, it's not a blighted building, there are no building code violations. 
 
Levy says that his client's last offer was $2 million dollars.
 
"My client is a businessman, and if you want to buy it, then you're going to pay the fair market value.   He gave them an opportunity, they  didn't want to pay that amount, so everybody will take their chances from that point on."
 
Whatever it may eventually cost, Mayor Segarra says that doing nothing will cost much more in the long run.
 
For WNPR, I'm Jeff Cohen.
 
 
 
 

  

Comments

I love nearby and it is 2 in

I love nearby and it is 2 in the morning on a Tuesday, why are they demolishing the building now? I have to work in a few hours. Ahh that's right the people in charge live in the valley.

Oh please Coleman! He should

Oh please Coleman! He should share the good crack he's obviously on. A vacant building in Hartford bought in 2004 for 1 million, and 7 years later is still vacant but has doubled in value? Rule of 72s says this would be @12% annual return, or increase in value over this timeframe. Show me ANY real estate in Hartford that has increased in value in like manner, certainly not homes in the West End. And Mr. Levy's best argument is the value doubled because the owner put a new roof on the structure? Hartford is fortunate Mr. Levy represents this property owner. Now if the city can just stick by their guns and use logic and the facts, the city should be able to easily convince a judge the property is worth much less.

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