Developer preparing"massive" redevelopment onMount Vernon's south side

MOUNT VERNON — A developer who has alreadybought up multiple south side parcels recentlyoffered to buy eight city-owned properties — valuedat $2.9 million — for $150,000.

MVP Realty Associates LLC of New York City hasbeen working with the city's Planning Departmentfor the past 18 months to formulate "a massiveredevelopment and revitalization plan" for the E.Third Street, W. Third Street and S. Fourth Avenuecorridor, according to a letter the developer filedwith the city.

"This project will totally transform the south side ofthe city, adding housing, retail, commercial andpublic venues," states the July 21 letter from MVPrepresentative Daniel A. Amicucci to city taxassessor Anthony V. DeBellis, who is chairman ofthe city's Real Estate Committee.

DeBellis said that MVP may not buy all the cityproperties listed in the letter. He also said thedevelopment company plans to come up with a newoffer in the wake of a July 30 committee meeting onthe project.

DeBellis said the full market values ascribed to theproperties in the city's records are not reality-basednumbers, suggesting some of the properties areworth far less.

For instance, he said, a defunct gas station at 204 S.Fifth Ave. that MVP is looking to acquire from thecity has environmental contamination that lessensthe property's value because of the clean-up costsfor the contamination. Others have unpaid county taxes.

DeBellis also noted the importance of selling city-owned land to a responsible developer that willimprove the area and the property-tax base.

As of Thursday a date for the committee's nextmeeting had not been set.

Amicucci, a managing member in MVP, declined tocomment on his company's intentions on

Wednesday. Amicucci has been involved in anumber of Westchester property transactions,including the purchase of the former Carvel estate inGreenburgh and a 21-acre farm in Kitchawan for amansion project.

MVP's address is 334-336 E. 110th St. in New YorkCity, the business location of Lettire ConstructionCorp., 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 hasbought properties at S. Fourth and S. Fifth avenuesas well as on W. Third Street. The area is full ofshuttered storefronts, derelict buildings, empty lotsand car repair shops along S. Fourth Avenuebetween Third and Fourth streets.

It has seen some redevelopment activity. On April11, Grace Baptist Church dedicated a new 13-storyresidence it helped develop at 20 E. Third St.

Mayor Clinton Young said he was familiar withMVP's plans but the project was not yet fullyconceived. He described MVP's planned housingcomponent as "workforce" housing.

"I'm not building any more low-income housing,"Young said. He called MVP's interest in the area anendorsement of the city.

"That's a testament to how well the city is workingnow," he said. "We're safe, we're appealing and we'reon the move."

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The purchase offerin Mount Vernon

MVP Realty Associates LLC of New York City isoffering to buy eight city-owned parcels. Their fullmarket value is $2.9 million; MVP's initial offer was$150,000. The properties sought in the company'sJuly 21 letter to the city's Real Estate Committee are:Property Full Market Value203 S.Fourth Ave. $133,757207 S.Fourth Ave. $162,420209 S.Fourth Ave. $305,732211 S.Fourth Ave. 1,194,267208 S.Fourth Ave. $191,082232 S.Fourth Ave. $417,197242 S.Fourth Ave. $238,853204 S.Fifth Ave. $305,732Source: Mount Vernon Tax Assessor's Office

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