Renzullo pulls out of buying Winchester Furniture building

WINSTED — Laurel City Revamp, a nonprofit organization formed by Selectman Michael Renzullo, has pulled out of buying a building at 10 Bridge St. that for many years was home to Winsted Furniture.Several months ago, Renzullo announced he planned to convert the building into 47 to 65 upscale residential units.When asked why he decided not to buy the building, Renzullo would not get into specifics.“We don’t want to get into details about it,” Renzullo said. “We decided not to execute the purchase agreement.”Renzullo said the building’s owner, Goldin Management of Brooklyn, N.Y., has a prospective buyer for the building.“We wish the best of luck to whomever they are going to sell it to,” Renzullo said.However, Marty Goldin, owner of Goldin Management, said that currently there are no prospective buyers for the building.“I do not know of anyone who wishes to buy the building, unless he knows somebody,” Goldin said. “We are not really pursuing buyers actively at this time.”Goldin said he would not comment on why Renzullo decided not to buy the building.According to the assessor’s database, the building was originally built in 1887.It is appraised at $348,100 and assessed at $243,670.The database lists several owners of the building for the past decade: Sue Ann Marolda is the first owner listed, then Estates at Mad River LLC purchased the building from Marolda in October, 2004 for $500,000.Renzullo’s primary project has been to renovate the old Capitol Products building on Willow Street. He secured a deal from the town to purchase tax liens on the property for $25,000 and has said Laurel City Revamp has bank commitments to pay for environmental cleanup costs estimated to be between $250,000 and $300,000.Renzullo is also currently running as a Democrat for the 63rd District State House of Representatives seat held by Republican John Rigby of Colebrook.