Marshall Street Property Sold at Auction
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Jennifer Segala, left, speaks with building owner John Leu prior to the auction of 25 Marshall St. |
NORTH ADAMS, Mass. — The former Mohawk Garage was sold at auction on Thursday afternoon for $210,000 to an unidentified buyer.
The building has gone through a number of transformations over the years, from car dealerships to shopping center to its current set up as offices and meeting space. Longtime owners John R. and Edith T. Leu said it "was just time to let it go" as they look to retirement.
The auction took about 6 1/2 minutes but the auctioner had to do some coaxing to get the bidding going at $100,000. Despite the number of interested parties, it was clear that only two individuals were in it. The bidding moved fairly slowing until topping out at $210,000.
As an "absolute" auction, the highest bid determined the sale. The property was sold as is.
The winner declined to give his name or his designs on the property. "We're not ready to talk about it yet," he said. The loser, Duncan Brown, a principal of North Adams Development Trust, also declined to discuss his interest in the property.
The winning bidder has 30 days to complete the sale or forfeit the $20,000 deposit, although attorney Howard D'Amico, representing the Leus, said an extension to 45 days could be negotiated to complete any financing packages.
The 25 Marshall St. property had been a car dealership for many years, beginning in 1915 when the orginal building was constructed by C.Z. Parker. Parker operated a Paige-Detroit Motor Car dealership until selling to the Vadnais brothers in 1925. The Vadnais operated a number of new car dealerships at the site, which at one time was third oldest Chevrolet dealership in New England, according to a 1969 article in the North Adams Transcript.
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The winning bidder, far left, has 30 days to complete the sale. |
Leu bought the building in 1957 and changed the name from Mohawk Garage to Mohawk Motors. In time, an Amoco gas station was added and the Mohawk Ambulance operated out of the building. In 1969, the building was refurbished to include a shopping center, featuring a furniture store, Helen's Yarn Shop and later the former Tropical Gardens aquarium store. The pumps were removed and the garage and auto body shop closed sometime later.
More recently, the Brien Center had operated out of the building until relocating to the former Transcript building on American Legion Drive.
The property had been for sale through Steepleview Realty when the Leus decided go with the auction, conducted by Aaron Posnik Auctioneers. The 22,600 square-foot brick building has two stories, about 50 foot of frontage and 22 parking spots in a prime location in the downtown. There are no current tenants.
"It's the end of an era," said Edith Leu afterward.
Tags: auction, Real Estate,
