Nantucket Real Estate Agent Blog

The Point Breeze Auction On Nantucket

Posted by Brian Sullivan

2/23/10 3:32 PM


 Point Breeze 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. 

Topics: Property for sale on Nantucket, Point Breeze Auction, Foreclosure on Nantucket


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