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Atateka Drive
Chestertown, NY 12817
$329,900
Conventional
Property
Bedroom
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Bathroom
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Property Type
Conventional
Square ft
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Property Description
This is a fantastic opportunity to own your own patch of beautiful Adirondack woods, nearly 165.92 acres, complete with a perennial stream, beaver pond, mature timber, and plenty of wild game. Use this property as your own recreational playground or build your dream home or camp in this peaceful, wooded retreat. The Potter Brook Timberlands property has abundant large, mature native tree specimens, including white pine, hemlock, red and sugar maple, red oak, and yellow birch. Although managed for timber with a long-term view, it has been several years since a timber operation and to many, this forest appears untouched. Potter Brook, a perennial trout stream that flows through the property year-round, is a great aesthetic and wildlife feature to be enjoyed. In addition to Potter Brook, there is a string of wetlands on the property, including a beaver pond with open water, adding to the opportunities for recreational activities and wildlife viewing on the property. The Potter Brook Timberlands property has been under the same ownership for over a hundred years. The family has taken great care of the property, working with professional foresters and loggers, evidenced by the quality of timber, diversity of tree species, and abundance of seedlings and saplings. The property is under Real Property Tax Law 480 (a.k.a. Fisher 480), NOT to be confused with 480a, a more restrictive forest tax law program. Unlike 480a, there is no forestry plan, set schedule of cutting, or forester involvement required, so Fisher 480 is a very low-input tax abatement program. Fisher 480 only requires a 6% severance tax paid to the respective town when forest products are harvested. To remove some of or the entire property from Fisher 480 would require a forester to perform a timber inventory and estimate the timber value, for which the 6% severance tax would be paid. Trails from past timber harvests have had very little recent use and have become seeded in with white pine, hemlock, spruce, and fir saplings. The trails would need to be brushed out for use by ATVs or for other recreational activities, but because they have been protected over the years, the trails are in very good shape. Though not used recently by people, wildlife abounds on the property, including deer and grouse. Potter Brook Timberlands is not far from Loon Lake (4 miles) and Schroon and Brant Lakes (9 and 18 miles, respectively), as well as Lake George and Lake Champlain. Other attractions include the Hudson and Schroon Rivers for fishing, whitewater rafting, and kayaking, as well as numerous smaller, publicly-accessible trout streams. The property is also close to thousands of acres of State Forest Preserve, open to the public for varied recreational pursuits. Access to the Potter Brook Timberlands property is off Atateka Road. There is 22 feet of frontage, though current access is via a deeded right-of-way. It is less than 5 miles from the center of Chestertown, and only 6 miles from exit 25 off I-87. Chestertown and nearby Warrensburg offer many of the day-to-day amenities, including hardware, groceries, and dining. The property is less than an hour from Saratoga Springs, just over an hour from Albany, 2.5 hours from Montreal, and under 4 hours from NYC. Nearby airports include Albany International (1+ hour), Plattsburgh International (~1.5 hours), and the smaller Floyd Bennett Memorial Airport (< 45 minutes).
Property Information
Lot Size
165 acre(s) square ft
Property Type
Land-Other
Year Built
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MLS Number
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Location
Address
Atateka Drive
City
Chestertown
State
NY
Zip Code
12817
County
WARREN
Listing
Provider
Timberland Realty - Falconer, original listing
Name
Phone
Office Name
Office Phone
(716) 962-9935
Agent Name
John Odonnell
Agency Phone
(716) 962-9935

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As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale. This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments. Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.