By Matthew Saari
After standing vacant for more than two years, the site that formerly housed a McDonald’s fast-food shop on Broadway may have a new owner.
Rumors circulated recently that Josh Cuomo, general manager of Champlain Beef Co., purchased the Broadway property.
“I bid on it and I won it,” Cuomo confirmed – but he hasn’t taken possession yet.
Unbeknownst to Cuomo at the time, McDonald’s Corporation placed a “reserve” on the property. In the auctioneering world, sellers can place a “reserve price” on the item they’re selling – an undisclosed minimum sum that the seller is willing to accept.
“If you’re scared someone could swoop in and buy it up cheap, you set a reserve,” said Bethe Reynolds, a real estate broker with Keller Williams Realty.
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