LEGAL NOTICE
NOTICE OF PUBLIC AUCTION SALE OF REAL PROP- ERTY
By the City of Troy, New York, pursuant to the Stipulated Order on Consent of the United States Bankruptcy Court for the Northern District of New York, Chapter 7, Case No. 22-10312 dated August 15, 2025.
PLEASE TAKE NOTICE that pursuant to the pro- visions of Real Property Tax Law Article 11, Real Property Actions and Proceedings Law §231, and other applicable laws and ordinances, the City of Troy will offer for sale at a live public auction the following described real properties: PROPERTY DESCRIPTIONS:
Parcel 1: Tax Map No. 112.83-3-7 (744 PAWLING AVE) - 11.06 acres more or less with two buildings. Building 1: 7,104 sq. ft. Building 2: 38,400 sq. ft. Parcel 2: Tax Map No. 112.84-3-4 (PAWLING AVE) Vacant Land - .64 acres more or less
Parcel 3: Tax Map No. 112.83-3-4 (PAWLING AVE) Vacant Land - .13 acres more or less
Parcel 4: Tax Map No. 112.84-3-1 (762 PAWLING AVE [REAR]) Vacant Land - .13 acres more or less Parcel 5: Tax Map No. 112.84-4-1.1 (768 PAWLING AVE) Vacant Land - .08 acres more or less
Parcel 6: Tax Map No. 112.83-3-5 (756 PAWLING AVE) Vacant Land - .23 acres more or less AUCTION DETAILS
Date: June 10, 2026 Time: 10:00 am
Location: City Council Chambers, Troy City Hall, 433 River Street, Fifth Floor, Troy, New York 12180 TERMS AND CONDITIONS OF SALE
All six parcels are being sold together.
Properties are sold "AS IS" and "WHERE IS" by Quitclaim Deed without warranties as to title or condition, and with no representations regarding their suitability for any purpose. No claims for ad- justments will be considered after the public auc- tion.
The City Administration may reject the highest bid if the City's confidential reserve price is not met.
Prospective purchasers shall be given time to conduct a reasonable inspection of the properties prior to the public sale. Any such inspection shall be done by a reputable firm and may include en- vironmental studies. With respect to substantial inspections like a Phase 2 Environmental, the City of Troy may require:
a. Each party to sign a release, indemnification, and hold harmless.
b. Insurance adding the City of Troy as an addi- tional insured with coverages such as $1,000,000 for pollution coverage, $2,000,000 for liability, $5,000,000 umbrella
policy.
c. Labor Law indemnification.
d. Parties to restore the property to the condition it was in prior to the inspection.
e. Any party conducting an inspection shall share the results with the City of Troy.
The City of Troy will be allowed to share the re- sults with others. Only one of a
given type of inspection by a reputable firm will be allowed.
All inspections must be completed by June 3, 2026.
Disposition of any and all personal property lo- cated on any of the parcels shall be the sole re- sponsibility of the successful purchaser.
The winning bid shall be subject to Troy City Council approval and acceptance. The City Coun- cil reserves the right to reject any and all pur- chase offers.
A 10% deposit shall be required at the public auction sale. At the time of the auction, the bid- der must be current on all monies owed to the City of Troy for any currently owned properties, including, but not limited to: property taxes, wa- ter charges, code enforcement fines, trash and recycling fees, etc.
Within 30 days after approval of the sale by the City Council, the purchaser shall pay to the Bu- reau of Surplus Property the balance of the bid purchase price. Prorated city, county, and school taxes based on the current assessed value and Rensselaer County Clerk filing fees will be due at closing. Upon default of such payment, the City shall retain the down payment, which is not a penalty but liquidated damages. The period for closing may be extended for extenuating circum- stances, as determined by the Corporation Coun- sel.
In the event that the City for any reason deter- mines not to sell to the successful bidder, the li- ability of the City of Troy and of its agents shall be limited solely to the return of any purchase pay- ments made to the City of Troy.
The terms of sale shall comply with applicable provisions of Troy City Ordinance section 83-5 un- less said ordinance is not in agreement with New York State law.
The former owners or their agents shall not be permitted to bid for any of the
properties.
For additional information, please contact: Sharon Martin IAO, City Assessor
433 River Street, Fifth Floor
Troy, New York 12180
518-279-7126
sharon.martin@troyny.gov
Dated: May 6, 2026
By order of the City of Troy, New York
5/13, 20, 27, 6/3
#NY0177052
