WILKES-BARRE — The city has found a potential buyer offering to pay $2 million for the Park & Lock East garage across the street from City Hall.
The sale of the structure at the corner of East Market and North Washington streets to Washington and Market Street Properties LLC is on the agenda for discussion at council’s 6 p.m. work session Tuesday.
City Administrator Ted Wampole said Thursday the potential buyer owns the adjoining office building on Public Square.
Attorney Frank Hoegen, who represents the interested party, said the intended use of the property will be discussed at the work session.
“It makes sense for them to own it,” Hoegen said.
“We’ve been working on it for a while and trying to find the right price,” he added.
The city budgeted $1.1 million this year for the sale of property, Wampole said. The garage has been appraised at $1.55 million and the city still owes $300,000 on it.
“We anticipated we could work something out with the buyer,” he said.
If the garage is sold, it will become a taxable property.
Reach Jerry Lynott at 570-991-6120 or on Twitter @TLJerryLynott.