Palmieri Announces Sale of Former Rite Aid Building

Utica Mayor Robert Palmieri says the former Rite Aid building on Genesee Street in Downtown Utica has been sold.

The building was sold to Christine Martin, President of Foster Martin Interactive Marketing, located in South Utica.  The purchase price was $20,000.

Palmieri said, “I thank Christine for her vision, investment and belief in Utica.  As a team, we’ve successfully marketed downtown Utica and significantly expanded our tax base while leveraging millions of dollars in private investment to create new jobs.”

The first phase of the project calls for rehabilitating the bottom two floors for commercial use, with an initial investment of $250,000.

The sale marks the tenth city-owned Downtown property sold to private developers in the past five years.