North Adams Doctor Buys Williamstown Building at Auction
 Auctioneer Corey J. Fisher, right, conducts an owner's sale at 25 Main St. in Williamstown on Friday. |
WILLIAMSTOWN, Mass. — The former home of Dion Money Management sold at auction for $111,000 on Friday afternoon.
Dr. Shaohua Tang purchased the 25 Main St. property with an eye toward making it a new home for his internal medicine practice, currently located on Main Street in North Adams.
Owner Don Dion was on hand for the owner's auction, conducted by Corey J. Fisher of West Springfield's Aaron Posnik Auctioneers and Appraisers.
The public auction drew just one other bidder, Dave Johnson, who bid $110,000 against an opening offering of $100,000 from Tang. Fisher elicted a $1,000 raise from Tang, and that is where the auction ended.
Tang sited the building's size (7,800 square feet) and convenient location near the Williamstown-North Adams line on Massachusetts Route 2 as advantages.
"As an owner, you can make it suit your specific needs," Tang said. "We may need the larger space to bring in associate businesses to promote health, like a nutrition counselor."
The remodeled barn, which at one time housed an antique shop, currently has six offices, five lavatories, oil heat and central air-conditioning. It sits on about 2 acres of land with parking spaces for about 40 vehicles.
Tang and his practice's office manager, Xingning Zhao, said they did not have a timetable in mind to relocate to the site. He said he planned to talk to an architect about modifications to the building.
Dion owned the property for about 15 years, he said. After selling his money management business to Focus Financial Partners, he continued to rent the space to the owners of Atlas Private Wealth Management, which did business at 25 Main St. before moving to North Adams last year.
Whent it was apparent the auction was bidding was going to end in the low six-figure range, Dion called over to Williamstown Principal Assessor William Barkin, who was on hand to observe the proceedings, asking Barkin what the site was assessed at.
"Just under $500,000," Barkin replied.
"Good job," Dion joked.
"You never complained, so I guess I was doing something right," Barkin replied.
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