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Francesco's still for sale
Marv Cermak

A new sign on the well-known former Francesco's Ristorante notes the empty Jay Street building and furnishings are available for $174,900. The asking price for the property two years ago was $359,000.
Francesco's ended a 14-year run in 2006 when it was sold to Mike Johnson, who converted the place into Diego's Mexican Restaurant. Diego's only lasted several months before losing its liquor license in connection with repeated fight and noise complaints.
The building has been vacant ever since perhaps partially because Jay Street across from City Hall is ragged. Seven of 12 storefronts on that block have been vacant for many years.

Read more: http://www.timesunion.com/defa.....94.php#ixzz1HzOzv2VO

Viva la Renaissance! And again it's Marv bringing the real scoop out of Schenectady. The Gazetto wasn't able to inflate this obvious tragedy into a rainbow and butterfly piece.

"7 of 12 storefronts on that block have been vacant for many years". Humm...makes you wonder why the Plex pours millions into Proctors and other 'non-profits' when Jay Street isn't even at half capacity.

I'm sure the view from the Metroplex windows looks great.  From City Hall, not so much.

in case u were under a rock for the last few years [which i certainly believe, given your level of intelligence] we have been in a recession. prices for property have fallen through the floor --- there have been record numbers of foreclosures and business failings .. i am sure this has had something to do with what is happening downtown as well as elsewhere... but go ahead, believe what u want, cause the truth only makes your head explode.

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$174,900. The asking price for the property two years ago was $359,000.

In two years property prices have plunged 50%?  WOW!

Exactly nothing is moving or selling.  Albany a little more stable.

Quoted from Yossi

Exactly nothing is moving or selling.  Albany a little more stable.

Understand all that, my problem is that even now the plex continues to spend thousands of the taxpayer money to renovate the Foster Building meanwhile practically ALL of Center City is vacant.  

Maybe someone should tell the Plex that we can't sell or rent property in the City...so stop spending our money!

Quoted from CICERO

In two years property prices have plunged 50%?  WOW!

Even worse, it's still not selling.

Metroplex has been wasting money for a lot longer than 10 years, long before the recession started.

those running the metroplex knew the ponzi was coming down like a vortex that lost it's wind........all the elected officials did too....

1. they didn't know because they are inept
2. they did know and rode the gravy train on our backs

Quoted from 147

Even worse, it's still not selling.

There must be waaaaaay too much inventory on the market in Schenectady...yeah that's it.  Metroplex is devaluing property by creating excessive inventory in hopes for creating demand.  It's not the fact there is NO DEMAND in Schenectady the price dropped 50%.lol  

Schenectady Democrats watched the movie Field of Dream and took it literally. 'If you build it, he will come'