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New offer made for FMCC dorms; Amsterdam landlord claims he will pay more than other buyer


New offer made for FMCC dorms; Amsterdam landlord claims he will pay more than other buyer | The Daily Gazette
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When credibility matters
By Jason Subik/Staff Writer |
May 3, 2021
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FULTON & MONTGOMERY COUNTIES  – William Petrosino, an Amsterdam-area landlord, made an offer on Thursday to buy the Fulmont College Association’s three dormitory halls at Fulton Montgomery Community College. He said his offer is “substantially higher” than the $1.1 million purchase agreement between the association and Dan Vann Properties. Either arrangement must receive court approval.
Petrosino said he’s been interested in buying the dormitory buildings at 588 County Highway 142 since before 2010, when the U.S. Department of Agriculture loaned the Fulmont College Association $11.3 million to buy and upgrade the 1980s-vintage Fulton Hall and Montgomery Hall for $4 million from the Massachusetts-based private company that owned them and buildi ....

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FMCC withdraws dorm sale petition; Fulmont College Association drops bid to sell buildings, for now


FMCC withdraws dorm sale petition; Fulmont College Association drops bid to sell buildings, for now | The Daily Gazette
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The Fulmont College Association on Wednesday withdrew its petition to Fulton County Supreme Court for permission to sell its three FMCC dormitory halls for less than their appraised value to Amsterdam-based Dan Vann Properties LLC for $1.1 million.
The FCA’s attorney Robert Schofield, of the Albany-based law firm Whiteman Osterman & Hanna, notified the many parties involved in the proposed seven-figure dorm hall sale in an email at 6:12 p.m. Wednesday.
“A few moments ago, I filed the attached Notice of Discontinuance, discontinuing and withdrawing my client’s Petition for Approval of the Sale of Real Property,” reads the email from Schofield. “We will likely refile the proceeding in the near future.” ....

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