Going once, going twice, sold. Three times the charm to find a buyer for the old Schenectady Armory. YNN's Beth Croughan tells us about the new owner's big plans for a big building.

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SCHENECTADY, N.Y. -- "It's a big ol' building," said Ray Legere, the Co-Owner of Legere Restorations.

And it's a building with a lot of history. That's what attracted Ray Legere and Jeff LeGere to the Schenectady Armory and what brought them to out-bid two others at Tuesday's public auction.

"Bidder number one is the high bidder of $260,000," said the auctioneer.

"This building holds all sorts of promise," said Legere.

The cousins co-own a company specializing in historical restorations. They've fixed up a fire-house and other Schenectady buildings. And in this 65,000 square foot facility, they see "sports, sports sports," said Ray. "Everybody wants to put sports in there," he added.

A balcony with seating for 400, looks down at a drill room with options. "It could easily fit two regulation basketball courts, three regulation volleyball courts," he explained.

And the cousins believe there's a need. "Thousands of kids in the Capital District, every night go to different parts of the Capital District. Gymnasiums here, any place that there's a space they go to," he said.

And in this case, it's a space, the state is happy to have sold. It's the third time they've tried to find a buyer and now, it's a building being put back on the tax rolls. "The state had to regularly maintain costs for plowing, to make sure that the pipes didn't freeze, to mow the lawn, to make sure that the building wasn't being broken into. And that involves people time and that involves money," said State Office of General Services Spokesperson Heather Groll.

But for the Legere's, $260,000 is money they consider well spent. "It's a handsome building. And we can't wait to get inside and start saving it," said Legere.