Tech company buys 440 State St. in $4.2M deal; plans to employ 125 people Will renovate downtown Schenectady location for its new headquarters Thursday, June 9, 2011 By Michael Lamendola (Contact) Gazette Reporter
SCHENECTADY — Proctors has sold 440 State St. to Transfinder Corp. in a $4.2 million deal announced this morning.
Transfinder Corp. will then renovate 440 State St. for its new headquarters. The company plans to employ up to 125 people.
Transfinder offers routing and scheduling solutions in student transportation management systems and services..........................>>>>..............................>>>>.....................http://www.dailygazette.com/news/2011/jun/09/0609_transfinder/
Anybody know the profit that Proctors made on this? And if they'll be looking for that much less tax money next year in the form of handouts from the Schenectady County residents?
Transfinder is ALREADY LOCATED AT 120 ERIE BLVD!!!!!!!!!!! That's their headquarters...they'll be moving down the street? Where's the new jobs????? And to a tax free home most likely????
Seriously Gazetto? This is such crap.
PS: They donated $2K to Proctors June 2nd ...on top of $4.2 million? This stinks of something with Plex in it.
And the building will be put back on the City tax rolls at full assessment? At least Proctor's which has expanded in every direction taking Key Bank off the City tax rolls is contracting. This has been rumored for months but the devil {as always} is in the details. The 440 Arts Center disaster is finally over. An arts center that could not sell any art. Another only in Schenectady.
Transfinder is ALREADY LOCATED AT 120 ERIE BLVD!!!!!!!!!!! That's their headquarters...they'll be moving down the street? To a tax free home most likely???? Seriously Gazetto? This is such crap.
Thank You. Another inter County job shuffle? If Metrograft is involved they will pay less property taxes. Always with the schmear. No one comes here for nuthin.
the renaissance continues... still room on the bus.. you know what I like about your numb-nuts? You are like fish in a barrel -0-- it is easy catching you, cause u are so stupid. lol
the angry ones cried that 440 would never be sold, and here it is, being sold, and downtown once again gets stronger, better and bigger.
It gets stronger by moving jobs off Erie to State? Proctor's buys Key Bank for a low ball $150,000 and sells the "arts" center for $4.2 Million. Doesn't pass the smell test. Will Proctor's be repaying the County taxpayers for this huge windfall?-lol! How about putting the bomb Key Hall back on City tax rolls? Never. it would not be prudent. Beside we can't even manage a coffeehouse.
the angry ones cried that 440 would never be sold, and here it is, being sold, and downtown once again gets stronger, better and bigger.
thanks Metroplex...
You MUST be smoking more than bananas. Let me break this down for you:
1) $4.2 million dollars goes into Proctors pocket (being a non-profit, it's a tax-free deal). No benefit to the City taxpayer;
2) This business is ALREADY located in Schenectady, no job creation. No benefit to Schenectady residents;
3) This location will most likely receive full to 1/3 property and school tax exemptions by either the Plex or from the Empire State Tax break.
If I'm wrong with #3 Bananas, I apologize in advance, but the track record for properties downtown is a free tax ride. Sounds like Marcellas to me. No new businesses are coming here, it's just a shell game. Fact is 440 State hasn't been sold, it's been given away by Proctors.
Can you draw him a picture in crayons? He ain't too bright. He likes poor people's sales tax money going to millionaire developers. That's what he calls renaissance.
As usual from the Metrograft bozos a big flat nothing that will never create one new job and will cost the County sheeple money. Metrograft is kicking in $210,000 for the rehab-lol. They moved up State a few blocks-BFD! The same shell game over and over and they wonder why revenues keep tanking.
Just a quick note. 120 Erie is owned by Burhmaster. Wasn't he just kicked off the IDA? Why would his tenant now get a deal with Proctors and the Plex to move elsewhere?
It's a win-win for the DEM working together idiots. They screw over Buhrmaster while helping Mercury Morris to a huge windfall for a place he bought for a one bid low ball. Then they can get their DEM tools in the media to wax on about renaissance when hundreds of City properties are vacant with no buyer in sight. No one even remotely interested. Anyone trying to unload City property {ANG?} knows the real horror story.
"Plans to employ 125" There are currently 54 people employed by Transfinder (32 employees 3 years ago). So, they're growing at a rate of 10 employees per year. Where did 125 come from? McCarthy quoted that he was happy Trans decided to stay. Like Marcellas?
The purchase price was $600,000 not $4.2 Million. So far Metrograft has announced a $150,000 rehab grant and $60,000 facade grant. Where the other $4 million rehab money is coming from no one knows. Everyone is asking about the usual Metrograft property tax give aways-no answers yet. Probably another sliding scale which gives them 25 years before paying the full assessed value. Then they can leave. The funniest statement was that they wanted to stay in Downtown because of the "energy there".
the renaissance continues... still room on the bus.. you know what I like about your numb-nuts? You are like fish in a barrel -0-- it is easy catching you, cause u are so stupid. lol
the angry ones cried that 440 would never be sold, and here it is, being sold, and downtown once again gets stronger, better and bigger.
thanks Metroplex...
Oh SB, aka DV....don't deny your id, you really need to be more careful with your wording.
Now, WHO are you thanking?????? Uh, try YET ANOTHER BIG HUGE tax increase to the financially struggling homeowners.
This is NOT "bringing business" to Schenectady, this is merely moving employees from one street to another, and taking more money away from vital necessary city services. Here will be an socialist deal to have a government business,,,,a "for profit" that will be totally exempt from property tazes.
Tell us, tell us SB aka DV.....tell us in what year, no, in what century will the taxpaying homeowners in the city get ANY tax reliaf. And don't you DARE say that the county reduced taxes to lower than what they were something like 50 years ago....we all know you merely copy and paste from savage's LIES, Savage's campaign literature....so I cahallenge you, I DEFY you to produce copies of tax bills dated in the 1950's and dated today and show us how the tax bills are lower today than back then. Well you do that???? Of course not because you know for a fact that it is a total LIE.
Optimists close their eyes and pretend problems are non existent. Better to have open eyes, see the truths, acknowledge the negatives, and speak up for the people rather than the politicos and their rich cronies.
Logged
And the building will be put back on the City tax rolls at full assessment? At least Proctor's which has expanded in every direction taking Key Bank off the City tax rolls is contracting. This has been rumored for months but the devil {as always} is in the details. The 440 Arts Center disaster is finally over. An arts center that could not sell any art. Another only in Schenectady.
Thank You. Another inter County job shuffle? If Metrograft is involved they will pay less property taxes. Always with the schmear. No one comes here for nuthin. 
