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The Adelphi Hotel in Saratoga Springs, New York  for Sale: Asking Price
 is $7,785,000 for the 39 room Hotel Built in 1877
By Dennis Yusko, Albany Times Union, N.Y.McClatchy-Tribune Regional News

July 1, 2008 - --SARATOGA SPRINGS -- The Adelphi Hotel, the last Victorian hotel still operating in the city, is back on the selling block.

Owner Sheila Parkert is asking $7,785,000 for the 131-year-old Broadway icon, Realty USA broker Miriam Scarborough said, two Julys after seeking $10 million for it.

"It's worth two condos in Manhattan," Scarborough said of the asking price. "And not the high-end ones."

Located in the heart of downtown, the 39-room, four-story building is the last of the city's 19th-century hotels to still accept guests, though only for 4 1/2 months a year. The Grand Union Hotel and United States Hotel were destroyed after World War II, while the Rip Van Dam has been turned into office space.

With its opulent lobby, mural-filled rooms and historic decor, the Adelphi brings guests back to the Gilded Age. Built in 1877, it's known for its large front porch, stately ballroom and elegant furnishings. Nightly rates range from $130 to $540, according to its Web site.

"If you were in France, you'd be charmed. If you were in Berlin, you'd be charmed," Scarborough said of the building's appearance.

Parkert and her late husband, Gregg Siefker, purchased the hotel in 1982 for $100,000. They rescued it from being torn down and invested heavily into it. The entire hotel was restored by 1990. The hotel also serves weddings and meetings.

Scarborough would not say why the building was for sale. Parkert declined comment.

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Copyright (c) 2008, Albany Times Union, N.Y.

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