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.
Review this years zoning articles to see how and if they will affect use and development of properties Island wide. 
