BUILDING STILL IN LIMBO
Adelphia headquarters still not sold

Although a high bidder has emerged on the former Adelphia Operations Center in downtown Coudersport, the building is still not sold.

Internet action company LFC Group put the property back on the auction block earlier this year and lured a high bidder - still unidentified - at $3.6 million.

An LFC spokesman said the building is "on a fast-track for quick disposal," amid rumors that the high bidder is not going to be able to close the deal.

"In all likelihood, this party was a 'flipper' interested in buying the building because $3.6 million seemed like a good price and then re-selling it for a profit," said a person close to the auction process.

The four-story building cost nearly $30 million to construct in 2000-01.

Adelphia last year selected LFC to sell most of its remaining real estate assets. Proceeds are being used to settle with creditors as the bankrupt company dissolves.

Buyers have been found for some of the Coudersport properties. Krise Bus Service has acquired the former Kightlinger Motors lot at Mill and Dwight streets, where the company will store and service some of its school buses.

A separate parcel, the former International Paper Company office and warehouse on East Second Street, near Goodenough Plaza, has been sold to the Potter County Redevelopment Authority and is being leased to AP Wagner.