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Bank buys Massachusetts marina at auction - Trade Only Today

Bank buys Massachusetts marina at auction

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The former Holland (Mass.) Sports Marina was sold at auction for $225,000 to the bank that held the mortgage on it.

Webster Bank, which posted the high bid, declined to comment on the foreclosure auction, according to The Republican newspaper in Springfield, Mass.

The property sits on three-quarters of an acre and features several buildings, including a marina office with an attached garage, a boat storage building and a dilapidated duplex.

The property was previously owned by David R. and Karen J. Pellett, who bought it from Robert P. Patnode in 2007 for $580,500, according to a filing with the Registry of Deeds. Officials said the property has not been used in nearly a year.

The town was owed about $8,000 in unpaid taxes and they had to be paid as part of the sale.

Selectmen chairman James E. Wettlaufer told the newspaper he was interested in seeing the town get that tax revenue back. He said it was the only marina in Holland.

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