Sep 18, 2007

New Hartford Shopping Center for saleBy Tory N. ParrishUticaOD.com

The New Hartford Shopping Center will be auctioned for at least $4.5 million next week, under the order of a State Supreme Court Judge.

The legal action is the result of a dispute between the owners of the 50-year-old shopping center on Genesee Street.

“The two parties have been feuding for years and that has resulted in litigation in a number of jurisdictions,” said Miami-based attorney Steven Mishan, who is co-counsel representing Canadian Four State Holdings Ltd.

Canadian Four State Holdings acquired the New Hartford Shopping Center in 1979 through a conveyance from Canadian Tri-State Corp., according to court filings. In 1980, Canadian Four State Holdings conveyed 50 percent ownership of the shopping center to IATT Investments, N.V., which, according to its attorney Kevin G. Martin, is owned by a Milan, Italy-based businessman.

Potential buyers have made their interest in the shopping center known, said Martin, who is a member of the Kernan and Kernan law firm in Utica. “I’ve gotten a lot of calls from individuals who are interested in the property,” he said.

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