Long-idle bank property in Mattituck is going to auction

10/09/2015 8:00 AM |

HCSB

It’s sat idle behind a chain-link fence for about a half a decade.

And before the end of the month, it could be sold to the highest bidder.

The Mattituck parcel that was initially supposed to house a Hudson City Savings Bank branch, but instead ended up embroiled in years of litigation, will be sold at auction Wednesday, Oct. 28, at 2 p.m. at Southold Town Hall.

Construction originally started in October of 2009, and the building has stood unfinished for years. However, according to court records, after foreclosure commenced in 2012, one of the principals involved in the project died, delaying the process even more.

According to a legal notice filed in The Suffolk Times, a judgment was issued totaling over $1.8 million, plus interest and costs, in July.

Ellen Savino is the attorney representing the family that is foreclosing on the property. According to Ms. Savino, no starting bid had been agreed upon as of last week.

“If the amount is right, they are happy to sell to a third party,” she said.

Hudson City Savings Bank, despite being the most visible part of the project at its inception, only had an agreement to lease the building once it was completed. The company took an ad out with The Suffolk Times in 2011 lamenting the delays.

“Like everyone else in town,” the ad stated, “we regularly drive by that uncompleted bank branch in Mattituck. Frankly, we wince when we see our name attached to it.

“Our involvement and responsibility is really pretty simple. Hudson City Savings Bank has a contract to be a tenant when the construction is completed.”

At this point, however, Hudson City is unlikely to bid on the property. The company is merging into Buffalo-based M&T Bank, and has refused to comment on the Mattituck location due to the ongoing litigation.

Photo credit: Chris Lisinski

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