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Gaffney’s Sold for $3.5 Million

Written by Saratoga TODAY on . Posted in Business.

Photo by Adam Russell, provided by Roohan Realty.

SARATOGA SPRINGS — The Gaffney’s building on Caroline Street in downtown Saratoga Springs has been sold for $3.5 million, Roohan Realty announced on New Year’s Eve.

The property was purchased by an LLC controlled by Scott and Kristine Grodsky. The new owners have already begun repairs and improvements to bring the building up to code for residential tenants. Gaffney’s is expected to reopen this spring under new ownership.

With foreclosure underway, the property’s bills were “piling up” and the building needed attention, Roohan stated in a news release.

In May of 2024, Gaffney’s was initially listed for $4.6 million. 

The property, built in 1967, includes commercial space and ten rental apartments.

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