http://www.lohud.com/article/20100815/NEWS02/8150372/Developer-p...
1281900367482
Developer preparing
"massive" redevelopment on
Mount Vernon's south side
MOUNT VERNON — A developer who has already
bought up multiple south side parcels recently
offered to buy eight city-owned properties — valued
at $2.9 million — for $150,000.
MVP Realty Associates LLC of New York City has
been working with the city's Planning Department
for the past 18 months to formulate "a massive
redevelopment and revitalization plan" for the E.
Third Street, W. Third Street and S. Fourth Avenue
corridor, according to a letter the developer filed
with the city.
"This project will totally transform the south side of
the city, adding housing, retail, commercial and
public venues," states the July 21 letter from MVP
representative Daniel A. Amicucci to city tax
assessor Anthony V. DeBellis, who is chairman of
the city's Real Estate Committee.
DeBellis said that MVP may not buy all the city
properties listed in the letter. He also said the
development company plans to come up with a new
offer in the wake of a July 30 committee meeting on
the project.
DeBellis said the full market values ascribed to the
properties in the city's records are not reality-based
numbers, suggesting some of the properties are
worth far less.
For instance, he said, a defunct gas station at 204 S.
Fifth Ave. that MVP is looking to acquire from the
city has environmental contamination that lessens
the property's value because of the clean-up costs
for the contamination. Others have unpaid county
taxes.
DeBellis also noted the importance of selling city-
owned land to a responsible developer that will
improve the area and the property-tax base.
As of Thursday a date for the committee's next
meeting had not been set.
Amicucci, a managing member in MVP, declined to
comment on his company's intentions on
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http://www.lohud.com/fdcp/?
Wednesday. Amicucci has been involved in a
number of Westchester property transactions,
including the purchase of the former Carvel estate in
Greenburgh and a 21-acre farm in Kitchawan for a
mansion project.
MVP's address is 334-336 E. 110th St. in New York
City, the business location of Lettire Construction
Corp., which has a number of large, affordable-
housing projects under construction in the Bronx,
Harlem and Brooklyn, according to its website.
According to Amicucci's letter, his company has
bought properties at S. Fourth and S. Fifth avenues
as well as on W. Third Street. The area is full of
shuttered storefronts, derelict buildings, empty lots
and car repair shops along S. Fourth Avenue
between Third and Fourth streets.
It has seen some redevelopment activity. On April
11, Grace Baptist Church dedicated a new 13-story
residence it helped develop at 20 E. Third St.
Mayor Clinton Young said he was familiar with
MVP's plans but the project was not yet fully
conceived. He described MVP's planned housing
component as "workforce" housing.
"I'm not building any more low-income housing,"
Young said. He called MVP's interest in the area an
endorsement of the city.
"That's a testament to how well the city is working
now," he said. "We're safe, we're appealing and we're
on the move."
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8/15/2010 3:29 PM
http://www.lohud.com/article/20100815/NEWS02/8150372/Developer-p... http://www.lohud.com/fdcp/?1281900367482

The purchase offerin Mount Vernon

MVP Realty Associates LLC of New York City is

offering to buy eight city-owned parcels. Their full
market value is $2.9 million; MVP's initial offer was
$150,000. The properties sought in the company's
July 21 letter to the city's Real Estate Committee are:
Property Full Market Value
203 S.Fourth Ave. $133,757
207 S.Fourth Ave. $162,420
209 S.Fourth Ave. $305,732
211 S.Fourth Ave. 1,194,267
208 S.Fourth Ave. $191,082
232 S.Fourth Ave. $417,197
242 S.Fourth Ave. $238,853
204 S.Fifth Ave. $305,732
Source: Mount Vernon Tax Assessor's Office

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