Tarrytown Discloses Cost of Parking Space

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The price tag for Tarrytown’s purchase of more than half of the parking lot space adjacent to Citibank’s still vacant building at 1 North Broadway was $475,000, village officials have disclosed. The recent acquisition has allowed the village to continue to maintain 21 parking places for metered public use. Tarrytown had been using the space since 1999, having leased the area from Citibank and its predecessors. Citibank vacated its building in 2016, and at that time, the village had been paying Citibank $10 monthly for each metered space. However, following the bank’s departure, the lot was closed.

The village went to court to acquire the lot through eminent domain, and in 2017 the Appellate Division of New York’s Supreme Court ruled in Tarrytown’s favor over Citibank’s opposition. The village and Citibank resumed discussions regarding the purchase following that decision, and Tarrytown’s notice it would follow through on the legal action. Last December free parking was permitted temporarily during the holiday period, and the lot was heavily used.  Merchant groups and village officials have been persistent in promoting the need for downtown parking.

Citibank reportedly has been negotiating with potential purchasers of the building, but there has been no word of its sale.

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