Arnot Realty Corp. has bought an 8.16-acre state-owned former New York State Department of Transportation maintenance facility in Ithaca for $3.79 million.
The property is located on the Cayuga Lake Inlet at 683 Third St. It is approximately 10 minutes from downtown Ithaca and a short drive from Cornell University, Ithaca College, and a municipal golf course. It is about 60 miles from Syracuse and 50 miles from Binghamton.
The new owner, Peter Dugo, president of Arnot Realty, one of four registered bidders, plans to redevelop the property.
The property has extensive frontage on the Cayuga Inlet, a tributary of Cayuga Lake. The home to a now-vacated DOT maintenance facility, it includes a 15,220-sq.-ft. office building, a 4,000-sq.-ft. storage structure, a salt storage dome, and a paved parking area that can accommodate approximately 45 vehicles. The property, which is accessible from Third St. Extension, also contains an easement for the Cayuga Waterfront Trail, which borders the property. The minimum bid for the property was set at $2.85 million.
With the sale complete, in early October, the State Department of Transportation will occupy a new environmentally friendly maintenance facility off Warren Rd. in the Town of Lansing. This state-of-the art facility is located next to the newly refurbished Ithaca Tompkins International Airport and will serve as a more appropriate hub for a modern transportation system, facilitating all of DOT’s highway maintenance and snow removal operations in Tompkins County
The new Department of Transportation maintenance facility includes a 30,000-sq.-ft. maintenance building and an 8,200-sq.-ft. salt storage barn. The property also features stockpile areas for pipe, stone and millings, and solar panels on the roof of the building. There’s also parking for 40 vehicles and a storm water management system, including bioretention basins, to reduce runoff. The DOT facility will also share a fueling station with the Ithaca Tompkins International Airport.