After all of the hopeful visions and dreams for developer Yong Guang Ye’s possible plans for the former JC Penney building, the site is now likely to go up for auction after going to foreclosure.
Ye’s former realtor, Jonathan Mauer of Pyramid Brokerage Co. in Fairport, no longer represents the California developer, who “didn’t really have a business plan” when he bought the department store property for $500,000, Maurer said. It was then put up for sale at a selling price of $750,000.
After the purchase became public, others chimed in with hopeful wishes that it could be turned into a boutique or micro hotel or a concert venue, citing its downtown location and midway point of Buffalo and Rochester as being a perfect setup for travelers. There were no takers for the property, apparently, and Ye let property taxes lapse into what may be eventual foreclosure, Maurer said. He wasn’t certain which out-of-state bank was the lender.
City Manager Rachael Tabelski briefly mentioned that it looked like the property was going up for auction during a recent City Council meeting. The Batavian requested further confirmation about the site's status at 40 Batavia City Centre on Friday afternoon.
"I believe they are one year out of back taxes, so foreclosure requires two years delinquent. I’ll need to check records to confirm," Tabelski said Friday. "I have heard that the lending company may be auctioning the property off. But I also have not found any details of this yet."
JC Penney closed its doors at City Centre in the fall of 2020 in an onslaught of closings due to corporate bankruptcy proceedings. Batavia’s site then sat quietly as local shoppers mourned the loss of another department store.
According to Genesee County assessment records, Yong Guang Ye of San Jose, Calif., purchased the 38,524-square-foot site on Feb. 2, 2021. The property has been assessed at $400,000.
JC Penney was built in 1978 along Alva Place and remained a strong anchor for the former Genesee Country Mall-turned-Batavia City Centre until its doors were permanently closed in late 2020.
