ISC close to selling Staten Island land UPDATE: International Speedway Corp is nearing a deal to sell 676 acres of land in Staten Island, New York, on which it had hoped to build a track, the race track owner's chief executive said on Wednesday. "We do have a sale that we do think will occur in the near future," CEO Lesa France Kennedy said in a telephone interview. "We have more details to work out."(Reuters)(10-24-2009)
UPDATE: International Speedway Corp. (ISC) has found a buyer willing to pay $80 million for more than 676 acres on the West Shore — the largest privately-owned piece of undeveloped industrial land in the city and the place where the race car company’s plans to build a NASCAR track crashed and burned. ISC announced this afternoon a deal to sell the land to KB Marine Holdings for $80 million — nearly $30 million less than ISC paid to buy and assemble the property, a former oil tank farm, back in 2004. KB Marine Holdings plans to use the property for port-related and warehousing uses, and was recently formed to acquire underused properties in port cities, a spokesman said. The preliminary details on the purchase agreement were released today and the deal is expected to close no later than Feb. 25. KB Marine Holdings put $1 million down on the deal. ISC dropped its race track proposal in 2006 in the face of mounting political opposition to the plan, and a deal in 2007 to sell the land to international warehouse developer ProLogis fell through.(Staten Island Live)(11-13-2009)
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Born On Date: March 25, 1999