The colossal concrete eyesore that hovers over New York's capital city may finally move into a new phase. The building's current (or now maybe former) owner lost another bid in court to block Albany County's takeover of the eleven story behemoth.

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Albany County has attempted to foreclose on the building due to an estimated $500,000 in unpaid back taxes. But owner Evan Blum has filed lawsuits against the county in order to retain ownership. The Albany Business Review says a county judge dismissed Blum's lawsuit on Monday.

It's very disappointing, Blum said. When you look up at the government, supposedly a pillar of society, it obviously let us all down.

Blum told the Business Review he was undecided on whether or not to appeal the decision.

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The County says it will now begin the process of what they hope will revitalize the decades long abandoned structure. Plans are for the County to sell the building to a partnership of two Capital Region contractors, Columbia Development and Redburn Development. The two firms are expected to buy the building at $50,000 and begin renovations to convert it into commercial space and apartments.

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Still, Blum is holding on to hope that a federal lawsuit he filed at the end of May will keep the County from taking over. In that suit, Blum says his right to due process was violated when the County seized the building. That lawsuit is still pending.

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It's estimated that the Central Warehouse was built circa 1927 as a cold food storage facility. It operated in that capacity until the late 1980's or early 1990's. After it closed, it changed owners numerous times and sat abandoned, becoming a haven for squatters, vandals and graffiti artists.

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