Gaffney's in Saratoga Springs, facing foreclosure, is up for sale
SARATOGA SPRINGS, N.Y. (NEWS10) -- Gaffney's, a bar at 16 Caroline Street in Saratoga Springs, is facing potential foreclosure and has been listed for sale. The foreclosure documents were filed with the Saratoga County Supreme Court on May 15.
As first reported by the Albany Business Review, John Baker and Supreme Cuisine, Inc. filed a Foreclosure Summons and Complaint against Caroline Street Properties, LLC and Elfont Saratoga, LLC, who own the Gaffney's property. Baker sold the property to the LLCs in 2016.
Baker and Supreme Cuisine are looking for the foreclosure of the property at 16 Caroline Street, as well as 20-22 Caroline Street. The complaint alleges that Caroline Street Properties and Elfont Saratoga defaulted under the terms of the loan documents and have not paid the mortgage for March, April, and May, and $273,704 in real property taxes, and does not have casualty and liability insurance in place.
Amid the potential foreclosure, the Gaffney's property has been listed for sale with Keller Williams Capital District for $4.6 million. According to the listing, the .26-acre property has over 15,554 square feet of space and includes 10 apartments. Gaffney's as a business is not included in the sale. You can view the listing on Scott Varley website.
"Gaffney's went from being a premier and thriving bar and entertainment establishment - winning Venue of the Year two years in a row - to not being able to even play music, resulting in a continual lack of business that followed. Any issues, relevant to what's being reported or not, are being addressed accordingly," Gaffney's told NEWS10 when asked about the potential foreclosure.
In 2022, Gaffney's had its liquor license suspended by the New York State Liquor Authority over "a continued pattern of violence and disorder." After paying a $70,000 fine and agreeing to new operating regulations, the bar was able to reopen.
Gaffney's has not yet responded to NEWS10's request for comment about the property being up for sale. The attorney for Caroline Street Properties has also not yet returned NEWS10's request for comment.