POUGHKEEPSIE – Dutchess County lawmakers authorized County Executive Marc Molinaro to sell the former Board of Elections building in Poughkeepsie on Monday. The building and parking lot at 47 Cannon Street is being sold to Jim and Gina Sullivan for $350,000.
Last week, lawmakers learned that the county would have to spend more than one million taxpayer dollars to bring the building up to code if the county wanted to continue occupying the facility.
The Sullivans, in partnership with other investors, have created various LLCs to purchase and rehabilitate several buildings on Cannon Street in the past several years. The couple and their partners are said to have invested more than $7 million to purchase and re-develop their Cannon Street holdings since 2013.
Investments made by one or both of the Sullivans include Revel 32, 40 Cannon, Kings Court Brewing, and the 1915 Wine Cellar.
Jim Sullivan spoke of his latest venture, saying “Gina and I are excited to continue our investment in the City of Poughkeepsie. We were happy we were able to negotiate amenable terms with the county for 47 Cannon Street.” Asked what he planned to do with the building, Sullivan avoided providing specifics, saying “With community input, our plan is to develop the property to complement the neighborhood businesses, residences, and planned developments in the immediate area”.
According to Dutchess County DPW Commissioner Robert Balkind, the Sullivan investments have created at least 22 jobs held by Dutchess County residents. Jim Sullivan hinted at more jobs, saying “We are proud of our work and look forward to bringing another high-quality project to fruition.”
The approved resolution will be sent to Dutchess County Executive Molinaro for approval and subsequent sale.
