The Point Breeze Auction On Nantucket
The auction at the Point Breeze here on Nantucket just happened. There were a number of registered bidders there. Bidding started at $10 million, no bid, down to $8 no bid, down to $5 million and there was a bid. The auctioneer took a break for a few minutes and then restarted. He went straight to the Bank who held the note - TD Bank North and the bid went straight to $22 million. So the Bank has taken the property back and they do not want to be the owner, so that the the legal proceedings are done there is opportunity for a buyer to come in and nego. terms that would be acceptable to both the buyer and seller. We shall see what happens. Here is a link to the inquire and mirror our local website for some more information.