Auctioneer, Dan Flynn of Daniel J. Flynn & Co. has sold two adjacent parcels of land totaling 30 acres at auction for $2.5 million.
The foreclosure auction was held on the property on December 22nd, 2009 at noon.
The residential zoned land is located off of 1255 High St. One parcel consists of 17.35 acres (Mill St. rear). The second parcel consists of 13.6 acres on High St. (Rte. 109).
Dozens of onlookers attended. The auction lasted less than 5 minutes with spirited bidding quickly driving the final bid to $2.5 million.
"This is a perfect example of a property sale that is primed for the accelerated marketing possess. The property itself has huge potential for a myriad of different buyers. The adjacent lots have outstanding value because of their location," auctioneer Dan Flynn said. "It was a fantastic opportunity for a buyer in one of Boston's premier suburban areas."
The winning bidder indicated that he was considering donating the property for conservation use. The law office of Rollins, Rollins & Fox of Wellesley represented the mortgagee, Peoples Federal Savings Bank. As typical with foreclosure auctions the high bidder has 30 days to close with the full amount due.
Already, Flynn Auctions has plans for several large auction events in 2010. Interested parties should sign up for auction email notices at FlynnAuctions.com.
Daniel J. Flynn & Co., Inc. is a full service real estate auction firm specializing in accelerated marketing strategies.