09/08/2016 12:13PM

Fasig-Tipton adds to Saratoga property

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Fasig-Tipton is expanding its sales facility in Saratoga Springs, N.Y., with the acquisition of additional properties that are likely to be used for parking during auctions.

According to the Albany Business Review, the auction company paid a total of $1.175 million to purchase three vacant properties, totaling about half an acre, southwest of its Humphrey S. Finney Sale Pavilion on East Avenue, a short distance from the main gate of Saratoga Race Course. The current auction grounds total about 6.4 acres.

The land was purchased from Rod Sutton's Saratoga Parking Services LLC, which will continue to run its parking business during the Saratoga race meet.

Fasig-Tipton currently conducts three sales annually in Saratoga: A selected yearling sale and New York-bred yearling sale, which both take place in August during the race meet; and a mixed sale, which takes place next month.