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Purchasing real estate from a Class I
https://www.rypn.org/forums/viewtopic.php?f=1&t=45797		 Page 1 of 1
Author:  James Parrish [ Sat Aug 14, 2021 7:53 pm ]
Post subject:  Purchasing real estate from a Class I
Hello folks,

Earlier this year I applied through the CSX web portal, to make an offer to purchase some property on the for some time disused Erie Northern Branch, in Bergen County NJ. I don't recall estimated square footage, but it would be defined by a house on one side, streets on both ends, and the main track on the other side. This would include a derelict baggage building that I suspect may be "squatted" in by a contractor for storage, and a siding track. Across the ROW the old station is a private residence. The request was denied with no counteroffer or explanation effect and I wonder what chance there might still be.

At least from my perspective, at this part of the branch, around about Closter, NJ, there is not much value to the railroad maintaining ownership. Going north a few miles, at the NY border the tracks have been pulled up for a rail trail for about a decade. There is still minor freight traffic miles south, providing food grade oils and such for Admiration Foods, in Englewood NJ. Anything north of there the track is borderline unusable, and in many places would be impassible from overgrowth and fallen trees. The last time I saw a train running north of Englewood was in Tenafly, NJ at least 15 years ago, and it had derailed on the poorly maintained track with its car or two of lumber. Any remaining sidings/customers are gone that I know of.

That being now, there is a project to extend light rail from North Bergen, in neighboring Hudson County, to downtown Englewood, with the northern terminus being Englewood hospital maybe mile further up. Completion date ~2030... The next town north has dug in its heels, and no service is expected to be restored to Tenafly station, or to say Closter two more stops north.

Had a good pic but it won't upload.
Author:  jayrod [ Sun Aug 15, 2021 10:25 am ]
Post subject:  Re: Purchasing real estate from a Class I
If you’re wondering why they won’t sell the little piece of property, I can think of a few possible reasons.

IIRC, NJ doesn’t tax railroad property so it wouldn’t cost much to sit on it. I think NY does, at least the local level, so selling the property north of there for a trail makes sense. They’d probably be more interested in selling larger chunks or the whole thing if the impetus was there to do so.

Or they may have an interest only in leasing. We lease a narrow strip from NS that our interlocking tower and display caboose sit on. Can’t buy it, though.

Then there’s NJ Transit. CSX may have more interest in selling or coming to some kind of an agreement for the entire line. One transaction and done. Less fuss in managing.
Author:  Trainlawyer [ Mon Aug 16, 2021 8:17 am ]
Post subject:  Re: Purchasing real estate from a Class I
Before I attempt an answer I have a question -
Had this parcel been offered for sale or was yours an unsolicited offer?

GME
Author:  James Parrish [ Mon Aug 16, 2021 11:42 am ]
Post subject:  Re: Purchasing real estate from a Class I
Image

What's a good way to share photos, or to upload? Mine are being denied.

This was an unsolicited request on my part yes. Regarding future connection to the NY trail there is interest, or at least was interest from towns along the route with some news about it four years ago and nothing more has come about publicly for it...

In NJ railroads are accessed value by towns, but if its just tracks coming through they don't pay the property tax directly. Maybe its different if there is a building on site, but for the most part the state collects an excise tax, then is supposed to distribute it equitably to the towns. Towns of course don't feel the distributions aren't equal blah blah blah....

In the case of this disused portion I would be surprised if the towns are getting any tax money at all from the RR, or from the state since there is no traffic. All extant station buildings on this line aren't owned by the railroad any more, perhaps they were eligible for property tax. Though its very odd looking the little baggage house on the property I offered for maybe is rented, not just squatted.

I did peripherally consider the future possibility of a trail coming to the bid site, but in my mind the space is wide enough to accommodate my plans of at least renovating/rebuilding the old structure, and possibly citing a car on the second track. This area is about the widest the ROW is for the line. Leasing I understand would be more palatable to CSX, but I am weary of that.

I also just asked a historian friend who gave me a correction on at least how late this line was used. Last thing he ever saw running on the line was paper delivery in 2009 to Closter.
Author:  Metsno1fan [ Mon Aug 16, 2021 2:14 pm ]
Post subject:  Re: Purchasing real estate from a Class I
That piece of property is adjacent to an electrical substation, and Orange & Rockland Utilities has an easement along the ROW for overhead transmission lines. That may have an impact on their willingness/ability to sell as well.
Author:  James Parrish [ Mon Aug 16, 2021 2:53 pm ]
Post subject:  Re: Purchasing real estate from a Class I
Metsno1fan wrote:
That piece of property is adjacent to an electrical substation, and Orange & Rockland Utilities has an easement along the ROW for overhead transmission lines. That may have an impact on their willingness/ability to sell as well.


Ah you got me worried, but this photo is of the area at the Southern edge of Closter with Stop and Shop behind it a couple hundred feet and Closter, High Street is the first crossing shown. The substation is up on the North side of town, on Blanch Ave.

The power lines in this area are also on the west side of the tracks the whole time they're in Closter as far as I know. For what that's worth I'm looking to buy on the opposite side of the wires, with the main and lots of overgrowth separating us.
Author:  Bobulltech [ Mon Aug 16, 2021 3:54 pm ]
Post subject:  Re: Purchasing real estate from a Class I
Could be fiber...
Csx often sits on property until it's a windfall deal see the area around the south side of Virginia Ave tunnel.

Are you sure by the tax record it's still csx ownership
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