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Ferrin Gallery Sells For $160K at Auction
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Only a few people attended the auction for the North Street building, including representatives from the bank holding the mortgage. |
PITTSFIELD, Mass. — The former Ferrin Gallery on North Street sold for $160,000 at auction on Tuesday.
Only a few people showed up for the 11 a.m. auction and there was only one bidder. While bids opened at $140,000, the sole bidder offered $160,000 when it was clear no one else was going to jump in.
The buyer refused to provide any information but left with representatives from the People's United Bank, the mortgageholder.
Aaron Posnik Auctioneers managed the short auction. The building features two commercial/condominium spaces. The Ferrin Gallery most recently occupied it as the only tenant in the building.
The building at 437 and 439 North St. has a total of 2,800 square feet — Unit 102 has 1,340 and Unit 103 has 1,460. there is a 1,900 square-foot basement. It is zoned as a Downtown Arts District Overlay and has parking for more than 20 vehicles in the back.
The purchaser is responsible for $1,885.11 in back taxes owed to the city.
Leslie Ferrin opened the gallery in 2007 but put it on the market in 2011 for $350,000. Failing to interest any buyers, Ferrin moved her business and closed the gallery last month and the bank took possession.
