McLaughlin & Co. LLC http://www.re-auctions.com RSS feeds for McLaughlin & Co. LLC 60 http://www.re-auctions.com/More-/News-Press/articleType/ArticleView/articleId/42/Taunton-Galleria-mall-sold-at-foreclosure-auction-for-75-million#Comments 0 http://www.re-auctions.com/DesktopModules/DnnForge%20-%20NewsArticles/RssComments.aspx?TabID=76&ModuleID=428&ArticleID=42 http://www.re-auctions.com/DesktopModules/DnnForge%20-%20NewsArticles/Tracking/Trackback.aspx?ArticleID=42&PortalID=0&TabID=76 Taunton Galleria mall sold at foreclosure auction for $7.5 million http://www.re-auctions.com/More-/News-Press/articleType/ArticleView/articleId/42/Taunton-Galleria-mall-sold-at-foreclosure-auction-for-75-million TAUNTON — Following a foreclosure auction Friday morning in the parking lot, the Silver City Galleria mall has a new owner. Brockton resident and investor Chris Carney made the winning bid of $7.5 million at the auction following several bids heard by Boston-based auctioneer Dan McLaughlin starting at $4.25 million. Carney initially told the Gazette that he is the official owner of the property, but later stated that the owner would be William Thibeault, owner of Thibeault Development, for whom he placed the bid and will be “partnering” with. Carney — whose father, George Carney, owns the Brockton Fairgrounds and Raynham Park — said that immediate plans include meeting with the mall’s tenants to review their lease agreements and eventually, proposing a master plan for the 1.1 million square foot property to Mayor Thomas Hoye and the city. “I didn’t expect it would sell today. I just came down to see how things were going,” said Carney, who said Thibeault is his main financial backer for the purchase. “We want to make it a win for the city. The mall’s fallen on hard times and we will be looking at every option and alternatives in the future.” Carney said that he is excited to “be neighbors” with the nearby site of the Mashpee Wampanoag tribe’s proposed casino and said that among other plans that will be under consideration, he has not ruled out the option of pursuing a casino or casino-related enterprise. “Region C is still wide open in the Taunton and Brockton area (for a casino),” said Carney, referring to the designation for the Southeastern region of the state under the state’s 2011 Expanded Gaming Act. “My father is going for one in Brockton and the Mashpee Wampanoag are going for one in Taunton, so nothing’s off the table.” George Carney told the Gazette on Friday that he had “no involvement whatsoever” in his son’s purchase. Mayor Thomas Hoye confirmed on Friday afternoon that he spoke with Carney earlier in the day about the sale. “I know him pretty well, and I expect to meet with him and Mr. Thibeault within the next week ... we’re excited about the possibilities in the future,” said Hoye. In April, Branch Banking and Trust Company of North Carolina filed a foreclosure action on the East Taunton property tied to a 2014 mortgage loan issued in the amount of $20.9 million, according to a May 2 Gazette article. Ahead of the bidding, McLaughlin read the legal notice advertising the auction that was placed in the Gazette on April 26, which stipulated the terms of sale and the parcel’s legal description among other details. “If you buy (the property) and there are problems, they become your problems,” McLaughlin advised potential investors ahead of the bidding. Before Carney, four other bids were proposed starting at $4.25 million amid a small gathering of potential investors and onlookers. Those who wished to bid on the property needed to have an initial deposit of at least $150,000, according to the Gazette advertisement. In 2002, the Galleria’s assessed value based on income and expenses was $120 million, according to the Gazette article. The mall’s most recent previous owners bought the property in 2013 for $22.1 million and included The MGHerring Group, Tricom Real Estate Group LLC and Contrarian Capital Management LLC, according to the article. By Jordan Deschenes https://www.wickedlocal.com Posted May 17, 2019 at 12:45 PM Updated May 17, 2019 at 2:00 PM Webmaster Sat, 18 May 2019 11:55:00 GMT f1397696-738c-4295-afcd-943feb885714:42 http://www.re-auctions.com/More-/News-Press/articleType/ArticleView/articleId/41/LStar-lender-buys-Union-Point-land-for-332-million#Comments 0 http://www.re-auctions.com/DesktopModules/DnnForge%20-%20NewsArticles/RssComments.aspx?TabID=76&ModuleID=428&ArticleID=41 http://www.re-auctions.com/DesktopModules/DnnForge%20-%20NewsArticles/Tracking/Trackback.aspx?ArticleID=41&PortalID=0&TabID=76 LStar lender buys Union Point land for $33.2 million http://www.re-auctions.com/More-/News-Press/articleType/ArticleView/articleId/41/LStar-lender-buys-Union-Point-land-for-332-million WEYMOUTH — A firm that lent $60 million to the struggling developer behind a sprawling project on the site of the former South Weymouth Naval Air Station bought several dozen parcels for just more than $33 million at auction. Daniel P. McLaughlin Auctioneers & Co. held the public auction at the development, called Union Point, for the purpose of foreclosing on 40 lots ranging in size from less than a quarter-acre to nearly 30 acres on behalf of Washington Capital Management. The land totals about 115 acres. In a legal notice announcing the auction, Washington Capital Management said the developer, LStar, had breached the terms of its mortgage agreement with the lender. There was one registered bidder, but he did not make a bid to top Washington Capital’s offer of $33.2 million. Bruce Barnett, an attorney for Washington Capital, said he’s “not privy” to the firm’s plans for the land. “The lender now owns the property and will do what it can to recoup its investment,” he said. The foreclosure auction came amid mounting legal and financial problems facing the massive mixed-use redevelopment project, which includes 1,450 acres of land in Weymouth, Rockland and Abington. In August, a Suffolk Superior Court judge banned LStar and its chief executive officer, Kyle Corkum, from selling off any assets worth more than $25,000 as they face a lawsuit filed by a company that loaned LStar $2.5 million. LStar managing partner Steven Vining said in a North Carolina lawsuit that Corkum breached his duty, misspent millions of dollars and meddled in the business after he was ousted. But the company has yet to completely cut ties with Corkum, which local officials have urged the developer to do in order for the project to move forward. As a result, Weymouth Mayor Robert Hedlund announced that the town would not provide additional water or wastewater service for any new projects at Union Point until town officials felt LStar was able to carry out the project. The Southfield Redevelopment Authority’s board of directors in December determined that LStar breached the terms of the disposition and development agreement, which could result in officials terminating LStar as the master developer. Paul Niedzwiecki, executive director of the SouthField Redevelopment Authority, said the outcome Thursday was the best one given the situation. “This is the fastest way to get development moving and now (Washington Capital) can have discussions about partnering with developers,” he said. The sale does not change the fact that LStar as of Thursday is still the master developer of the project, according to Niedzwiecki. Union Point now has about 1,000 single-family homes, townhouses and apartments. The long-range development plan calls for 3,855 homes, 1,000 of which would be restricted to people age 55 and older; 8 million square feet of commercial space; 1,000 acres of open space; and 50 miles of hiking and biking trails.   By Jessica Trufant The Patriot Ledger   Posted Feb 7, 2019 at 5:03 PM Webmaster Sat, 09 Feb 2019 10:31:00 GMT f1397696-738c-4295-afcd-943feb885714:41 http://www.re-auctions.com/More-/News-Press/articleType/ArticleView/articleId/40/Union-Point-lender-schedules-foreclosure-auction#Comments 0 http://www.re-auctions.com/DesktopModules/DnnForge%20-%20NewsArticles/RssComments.aspx?TabID=76&ModuleID=428&ArticleID=40 http://www.re-auctions.com/DesktopModules/DnnForge%20-%20NewsArticles/Tracking/Trackback.aspx?ArticleID=40&PortalID=0&TabID=76 Union Point lender schedules foreclosure auction http://www.re-auctions.com/More-/News-Press/articleType/ArticleView/articleId/40/Union-Point-lender-schedules-foreclosure-auction WEYMOUTH — A firm that lent $60 million to the struggling developer behind a sprawling project on the site of the former South Weymouth Naval Air Station has started the foreclosure process for several dozen parcels of land as the development faces growing legal and financial challenges. Washington Capital Management has scheduled a public auction next month at the development, called Union Point, for the purpose of foreclosing on 40 lots ranging in size from less than a quarter-acre to nearly 30 acres. In a legal notice announcing the auction, Washington Capital Management said the developer, LStar, had breached the terms of its mortgage agreement with the lender. Bruce Barnett, an attorney for Washington Capital, did not return an email seeking comment Monday. The foreclosure auction comes amid mounting legal and financial problems facing the massive mixed-use redevelopment project, which includes 1,450 acres of land in Weymouth, Rockland and Abington. In August, a Suffolk Superior Court judge banned LStar and its chief executive officer, Kyle Corkum, from selling off any assets worth more than $25,000 as they face a lawsuit filed by a company that loaned LStar $2.5 million. Webmaster Tue, 15 Jan 2019 10:21:00 GMT f1397696-738c-4295-afcd-943feb885714:40 http://www.re-auctions.com/More-/News-Press/articleType/ArticleView/articleId/39/Auction-Set-For-Historic-Property-Thats-Seen-Many-Uses#Comments 0 http://www.re-auctions.com/DesktopModules/DnnForge%20-%20NewsArticles/RssComments.aspx?TabID=76&ModuleID=428&ArticleID=39 http://www.re-auctions.com/DesktopModules/DnnForge%20-%20NewsArticles/Tracking/Trackback.aspx?ArticleID=39&PortalID=0&TabID=76 Auction Set For Historic Property That's Seen Many Uses http://www.re-auctions.com/More-/News-Press/articleType/ArticleView/articleId/39/Auction-Set-For-Historic-Property-Thats-Seen-Many-Uses ORLEANS — A piece of the town's history – albeit one that was born next door in Eastham – goes on the auction block next week. The former Academy Ocean Grille at 2 Academy Place will be auctioned by the Daniel P. McLaughlin Co. of Boston Dec. 8 at 1 p.m. in Orleans. A $25,000 deposit is required at the sale for the 4,000-square-foot building on a 37,026-square-foot parcel. The Academy Ocean Grille's closure was announced in January. A yarn shop, A Stitch in Thyme, is open for limited hours at the location. Recent sales of the property were for $329,000 in 1999, $750,000 in 2000, and $1.2 million in 2005. “The structure was built circa 1880 in Eastham and was moved to its current location in 1891 by the French Cable Station to serve as employee housing,” Orleans Historical Commission Chair Ron Petersen wrote in an email. “It was later a private residence, a gas station, the original location of the Beth Bishop business, and finally a restaurant.” Petersen said his information came from an historical inventory of town properties compiled in the 1980s. The commission is updating the 400-plus entries on file. “As we will be commemorating Orleans in World War I in 1918,” wrote Petersen, “the association of this structure with the French Cable Station is of particular interest.” In July of that year, a German submarine attacked a tugboat and barges off Nauset Beach; some shells landed on the shore as well. The inventory form, compiled by Bonnie Snow and Doris Berger, notes that 2 Academy Place was owned later by George W. Geers, who used it as a gas station and residence. The Orleans Historical Society's files include an article about Geers and his wife Susie by his great-grandson, George L. Geers. A newspaperman, he had written to the Cape Cod Oracle trying to find out more about his great-grandfather, who died 11 days after the writer was born in 1950. “Family legend has it that he changed his name from Gear to Geers because of the automobile,” his great-grandson wrote. “He was tired of being called 'High Gear,' 'Low Gear,' and 'Shift.' This may not be the reason because Geers is pronounced 'gears' and his descendants have all been plagued with 'Shifty' nicknames.” The newspaperman's article drew lots of reader response, which he detailed in a subsequent piece. Some remembered the elder Geers sitting in his kitchen waiting for customers, in no rush to hop up and work the Jenny gas pump. He drove a school bus, painted, hung wallpaper, kept hens, and had a dairy farm as well; one writer recalled helping to hay the farm on the Fourth of July in 1919 and being served “switchell,” a mix of ginger ale and molasses. Another remembered the proprietor's “10-gallon Stetson and small cigars.” Local lads couldn't resist the ripe fruit in the Geers's cherry tree, which got them in trouble when he complained to their parents. “And they had the best blackberries in town,” another writer recalled. The next owner of 2 Academy Place was Katherine Hall, according to the inventory. She started her International Shops (a gift store) there. In 1960, another retail use, Beth Bishop, was established for a long run until 1990, when that shop moved to a nearby building. Succeeding years saw the building offer many memorable meals during its time as a restaurant. Note: Due to a reporting error, the wrong date was given in our Nov. 30 edition for the auction of 2 Academy Place in Orleans. It is scheduled for Friday, Dec. 8, at 1 p.m. The above story has been change to reflect the correction. Webmaster Wed, 29 Nov 2017 15:53:00 GMT f1397696-738c-4295-afcd-943feb885714:39 http://www.re-auctions.com/More-/News-Press/articleType/ArticleView/articleId/38/No-new-owner-for-Greendale-Mall-in-Worcester-as-bank-buys-property-back-for-118M#Comments 0 http://www.re-auctions.com/DesktopModules/DnnForge%20-%20NewsArticles/RssComments.aspx?TabID=76&ModuleID=428&ArticleID=38 http://www.re-auctions.com/DesktopModules/DnnForge%20-%20NewsArticles/Tracking/Trackback.aspx?ArticleID=38&PortalID=0&TabID=76 No new owner for Greendale Mall in Worcester as bank buys property back for $11.8M http://www.re-auctions.com/More-/News-Press/articleType/ArticleView/articleId/38/No-new-owner-for-Greendale-Mall-in-Worcester-as-bank-buys-property-back-for-118M WORCESTER -- At a brief auction Friday morning, the bank bought back the Greendale Mall property for $11,820,000 without hearing any other bids. There were a handful of qualified bidders in the parking lot of the Greendale Mall at 7 Neponset St. for Friday morning's auction. The mall was up for auction after the lender filed for foreclosure in April after long reported financial trouble, including a sharp decline in the mall's value. The mall was built in 1987 and comprises a 309,000-square-foot enclosed building sitting over 21 acres. A representative for the current mortgage holder opened bidding at $11,820,000 and no other bids were offered. "It's 21 acres, with some good tenants in the middle of a great city," said Mike O'Brien, one of the bidders. O'Brien from Galaxy Development in Auburn said he may still be interested in buying the property if the bank looks to sell, but that the $11.8 million price tag was too high on Friday. Another bidder, Emad Benyamin of Shrewsbury, said his cap on buying the property would have been $5 million. "It' a good commercial property and we'd like to bring it back as a mall," Benyamin said. Benyamin said himself and group of buyers may still be interested in purchasing the property. Robert Pearce, from the firm of Seyforth and Shaw representing the current mortgage company, said he does not know of any plans to change anything at the mall or sell the property. Webmaster Wed, 06 Jul 2016 12:46:00 GMT f1397696-738c-4295-afcd-943feb885714:38 http://www.re-auctions.com/More-/News-Press/articleType/ArticleView/articleId/37/Some-see-hidden-gold-in-Greendale-Mall-as-auction-approaches#Comments 0 http://www.re-auctions.com/DesktopModules/DnnForge%20-%20NewsArticles/RssComments.aspx?TabID=76&ModuleID=428&ArticleID=37 http://www.re-auctions.com/DesktopModules/DnnForge%20-%20NewsArticles/Tracking/Trackback.aspx?ArticleID=37&PortalID=0&TabID=76 Some see hidden gold in Greendale Mall as auction approaches http://www.re-auctions.com/More-/News-Press/articleType/ArticleView/articleId/37/Some-see-hidden-gold-in-Greendale-Mall-as-auction-approaches By Lisa Eckelbecker Telegram & Gazette Staff WORCESTER – When it opened in 1987, the Greendale Mall was swamped with crowds. Fast forward 29 years, and the shopping center, tucked next to a busy stretch of Interstate 190, is mostly quiet, dated and dotted with vacancies. It’s also ripe for the taking. Lender Capmark Finance Inc. is foreclosing on owner Simon Property Group of Indianapolis, and the mall, valued at $14 million by city officials, is slated to go up for auction May 26. Retail property owners are showing interest in the 21-acre shopping center, according to the auctioneer handling the sale. But at a time when shoppers are buying more online, shifting purchases to more modern outdoor centers and looking to malls for dining and entertainment, it’s unclear whether the Greendale Mall can continue without big changes. "It feels like no one’s paid attention," said Ani Collum, a partner and retail consultant with Retail Concepts of Norwell, a consulting firm. "I think there has to be a new approach, and that value is really in the land." Malls have not had an easy path in recent years. Massive enclosed spaces typically surrounded by garages or vast parking lots, they’ve lost business to newer outdoor "lifestyle centers" featuring movie theaters, restaurants and a mix of stores. The Great Recession and sluggish recovery also ravaged the retailing industry, forcing some chain stores that are stalwarts of malls to scale back. In addition, although most purchases still take place in stores, consumers have shifted some purchases away from bricks-and-mortar stores to online sites such as Amazon.com Inc. Still, malls in the Boston area, including Worcester, generally have low vacancy rates, according to CoStar Group Inc., which tracks commercial real estate across the country. During the first three months of this year, 40 Boston-area malls posted a vacancy rate of 2.4 percent. Three malls in the Worcester area had a vacancy rate of less than 1 percent, CoStar reported. Malls rarely fail, but when they do, it’s usually because the surrounding region has changed so much it can no longer economically support the mall’s businesses, bigger and better competition emerges or an owner can no longer update the property, said Jesse Tron, a spokesman for the International Council of Shopping Centers. Turning around a troubled mall could involve converting it to an outdoor center, adding different kinds of commercial space such as offices or even adding housing. Mr. Tron said solutions need to address underlying problems. "If it’s putting money in, that’s what happens," Mr. Tron said. "Sometimes it’s just tweaking and reinventing." At 309,000 square feet, the Greendale Mall is smaller than its regional competitors. It also lacks the dining and movie theater that shoppers can find just 8 miles away at the Shoppes at Blackstone Valley, a Millbury lifestyle center that opened in 2004. The Greendale Mall’s anchors depart from standard mall offerings, too, according to Michael C. O’Brien, principal of Galaxy Development LLC of Auburn, which has been tapped to redevelop an old Worcester Regional Transit Authority bus garage on Grove Street into a 6-acre shopping plaza. The mall’s anchor stores are clothing and home accessories store T.J. Maxx, electronics retailer Best Buy and the discount clearance chain Big Lots. "Those aren’t anchors that drive a lot of shopping to that mall," Mr. O’Brien said. Still, the mall’s foreclosure is bringing out interested parties, primarily entities from the New England and New York region, according to auctioneer Daniel P. McLaughlin of Daniel P. McLaughlin & Co. LLC of Boston. "We’re hearing from just about everyone, but it’s mainly people who own shopping centers," he said. It helps that interest rates are low and lenders are plentiful, factors that could help a developer secure financing to buy and redevelop the Greendale Mall. "This story was drastically different six years ago, seven years ago," said Mr. Tron of the shopping center council. "Now people have access to credit and capital. … If they see value there, they are going in and working on those types of projects." Webmaster Wed, 18 May 2016 11:19:00 GMT f1397696-738c-4295-afcd-943feb885714:37 http://www.re-auctions.com/More-/News-Press/articleType/ArticleView/articleId/36/Greendale-Mall-lender-files-for-foreclosure-Worcester-mall-up-for-auction#Comments 0 http://www.re-auctions.com/DesktopModules/DnnForge%20-%20NewsArticles/RssComments.aspx?TabID=76&ModuleID=428&ArticleID=36 http://www.re-auctions.com/DesktopModules/DnnForge%20-%20NewsArticles/Tracking/Trackback.aspx?ArticleID=36&PortalID=0&TabID=76 Greendale Mall lender files for foreclosure, Worcester mall up for auction http://www.re-auctions.com/More-/News-Press/articleType/ArticleView/articleId/36/Greendale-Mall-lender-files-for-foreclosure-Worcester-mall-up-for-auction By Lindsay Corcoran | lindsay.corcoran@masslive.com WORCESTER -- Worcester's Greendale Mall is set to be put up on the auction block next month as a lender foreclosed on the mall's loan. Daniel P. McLaughlin & Co. Auctioneers lists the 7 Neponset St. property as up for auction late next month. The auction is scheduled for May 26 at 11 a.m. at the mall property. Financial trouble at Worcester's mall was reported late last fall. At the time, the Worcester Business Journal said the $45 million loan defaulted. The mall was only 80 percent occupied. In February, the business journal reported the value of the mall had plummeted by 77 percent. The mall was built in 1987 and comprises a total of 309,000 square-feet with 1,514 parking spaces outside. The Greendale Mall was owned by Simon Property Group, but is no longer listed on the company's roster of properties. Simon did not immediately return a call for comment. Simon also owns the Auburn Mall and the Solomon Pond Mall in Marlborough.      Webmaster Wed, 18 May 2016 11:13:00 GMT f1397696-738c-4295-afcd-943feb885714:36 http://www.re-auctions.com/More-/News-Press/articleType/ArticleView/articleId/35/Tauntons-iconic-Benjamins-restaurant-to-be-sold-at-auction-Sept-23#Comments 0 http://www.re-auctions.com/DesktopModules/DnnForge%20-%20NewsArticles/RssComments.aspx?TabID=76&ModuleID=428&ArticleID=35 http://www.re-auctions.com/DesktopModules/DnnForge%20-%20NewsArticles/Tracking/Trackback.aspx?ArticleID=35&PortalID=0&TabID=76 Taunton's iconic Benjamin's restaurant to be sold at auction Sept. 23 http://www.re-auctions.com/More-/News-Press/articleType/ArticleView/articleId/35/Tauntons-iconic-Benjamins-restaurant-to-be-sold-at-auction-Sept-23 By Marc Larocque Taunton Gazette Staff Reporter TAUNTON — The former Benjamin’s restaurant property in Taunton will soon be sold to the highest bidder. The now-shuttered landmark Taunton restaurant is set to be sold off at a live auction on Sept. 23 at 11 a.m. on site at the 698 Bay St. property, in what the auctioneer called “an incredible opportunity” for a potential owner. “It’s kind of an iconic place down that area,” said Daniel McLaughlin, who runs a Boston-based auctioneering company. “Everyone who has grown up in that area has been to some sort of function there at some time. … I really think that someone who’s in the function or restaurant business has an incredible opportunity here.” McLaughlin is auctioning off the two-floor, 25,000-square-foot building on behalf of Mechanics Cooperative Bank, which took ownership of the foreclosed property last month. The deed for Benjamin’s was signed over to the bank on July 16 to make up for $247,567 in debt on a second mortgage the business received last year and later defaulted on, according to documents filed at the Northern Bristol County Registry of Deeds. According to the accounts of several veteran employees there, the business floundered in recent years under the ownership of Diane Benjamin, after she inherited Benjamin’s from her late husband, restaurant patriarch George Benjamin, who died in 2013. George Benjamin and his brothers opened the doors at Benjamin’s restaurant in 1968, before developing the reputation as a go-to place for a semi-formal dinner, a family celebration, a business gathering or community functions. The business was left in the hands of Diane Benjamin, his wife of 23 years. But George Benjamin’s children also filed a civil lawsuit in March of this year, accusing her of “undue influence” that resulted in a revised will giving her the inheritance of the Taunton restaurant. Steve Torres, who represents the Benjamin children, said he had no comment at this time when reached on Tuesday. Diane Benjamin announced to employees and patrons in early May that the landmark restaurant was closed. A large sign advertising the auction went up in front of the former Benjamin’s restaurant on Monday, McLaughlin said. The property is on 3.25 acres of land, with 215 parking spaces with frontage on three different streets, and enough room in the restaurant for 450 seats. “It’s fully equipped,” McLaughlin said. “It certainly could use some updating.” Potential owners could find a lot of value buying the foreclosed property at an auction price, McLaughlin said. “The banquet business is a pretty profitable business,” he said. “You can be a wedding factory, if you get it right.” Asked if it was possible that the new owners keep the Benjamin’s name, McLaughlin said he wasn’t sure, but whatever happens there should be interesting. “It’s a really interesting opportunity you just don’t see everyday,” he said. “Anyone I’ve talked to says, I’ve been there 50 times for weddings and graduations. … It’s obviously a proven location.” Webmaster Tue, 22 Sep 2015 08:27:00 GMT f1397696-738c-4295-afcd-943feb885714:35 http://www.re-auctions.com/More-/News-Press/articleType/ArticleView/articleId/34/Daisy-Buchanans-to-spring-to-life-again#Comments 0 http://www.re-auctions.com/DesktopModules/DnnForge%20-%20NewsArticles/RssComments.aspx?TabID=76&ModuleID=428&ArticleID=34 http://www.re-auctions.com/DesktopModules/DnnForge%20-%20NewsArticles/Tracking/Trackback.aspx?ArticleID=34&PortalID=0&TabID=76 Daisy Buchanan’s to spring to life again? http://www.re-auctions.com/More-/News-Press/articleType/ArticleView/articleId/34/Daisy-Buchanans-to-spring-to-life-again Let’s call this one A Tale of Two Barrooms: Daisy Buchanan’s and the notorious Chelsea strip club King Arthur’s Lounge: First up, Daisy’s. Now don’t breathe a word of this. Because nobody’s suppose to know. But the legendary jock bar may rise from the dead. Daisy’s, which closed back in November after serving beer to the city’s pro athletes and the ladies who stalk them for more than 40 years, could be getting a second lease on life. Word is, Daisy’s owner Joe Cimino is eyeing another Newbury Street building not too far from the former Daisy’s where he could revive the cleat-chasers’ favorite watering hole. “It’s in the works, but it’s not done yet,” said Someone Who Knows. Cimino’s real estate guru, Michael Carucci, who handled the sale of the bar at the corner of Newbury and Fairfield streets and an adjoining building to developers, declined to comment on the reports. In the meantime, we hear original Daisy’s partner, ex-Bruin Derek Sanderson, and NBC sportscaster Bob Costas were inside Daisy’s shooting some kind of special that is supposed to air around St. Patrick’s Day. The Daisy’s building and the one next-door were sold to UrbanMeritage and Novaya Real Estate Ventures for $14.5 million last spring and the developers plan to convert them into high-end retail space. Next up: King Arthur’s Motel & Lounge. If you’ve been around these parts for a while, you no doubt can remember the infamous police brutality case that happened at this notorious Chelsea bucket of blood. In July of 1982, off-duty Everett cop John McLeod got into a fight while doing some after-hours drinking in the lounge. He called some of his fellow cops for backup and officers from both Everett and Chelsea stormed the place carrying guns, bats, clubs and tire irons. They proceeded to break down a motel door and beat the you-know-what out of a couple of men inside. One man died of his injuries and McLeod and another Everett officer, Richard Aiello, were found guilty of second-degree murder. Another Everett officer was found guilty of manslaughter and five Chelsea cops admitted to filing false reports about the incident. The bar also was the scene of a 2008 shooting and other nefarious doings but somehow the club managed to hold onto its liquor license until earlier this year. That’s when fed-up city officials finally pulled the bar’s ticket for failing to pay some $300,000 in back taxes. Which brings us to tomorrow, when Daniel P. McLaughlin & Co. will sell the building at a fore-
closure auction to the 
highest bidder. “From what I hear, there are still bloodstains on the ceiling of what used to be the inn,” McLaughlin told the Track. Eew. Clearhead Capital is foreclosing on an $865,000 mortgage on the strip club, which, BTW, is located less than a mile from Steve Wynn’s proposed Everett casino — which is a dandy spot for a strip club, doncha think? Word is, city officials are not thrilled with the prospect. But do stay tuned. ... Webmaster Mon, 05 Jan 2015 12:54:00 GMT f1397696-738c-4295-afcd-943feb885714:34 http://www.re-auctions.com/More-/News-Press/articleType/ArticleView/articleId/33/Red-Sox-Poker-Fundraiser#Comments 0 http://www.re-auctions.com/DesktopModules/DnnForge%20-%20NewsArticles/RssComments.aspx?TabID=76&ModuleID=428&ArticleID=33 http://www.re-auctions.com/DesktopModules/DnnForge%20-%20NewsArticles/Tracking/Trackback.aspx?ArticleID=33&PortalID=0&TabID=76 Red Sox Poker Fundraiser http://www.re-auctions.com/More-/News-Press/articleType/ArticleView/articleId/33/Red-Sox-Poker-Fundraiser Dan McLaughlin conducting an auction at a poker fundraiser for Pitching In For Kids with Actor/Comedian Lenny Clarke and Red Sox Players Will Middlebrooks and John Lackey. Your browser does not support iframes. Webmaster Sat, 10 May 2014 13:06:00 GMT f1397696-738c-4295-afcd-943feb885714:33 http://www.re-auctions.com/More-/News-Press/articleType/ArticleView/articleId/32/Jimmy-Seas-Famous-for-Pan-Pasta-Sold-to-the-Highest-Bidder#Comments 0 http://www.re-auctions.com/DesktopModules/DnnForge%20-%20NewsArticles/RssComments.aspx?TabID=76&ModuleID=428&ArticleID=32 http://www.re-auctions.com/DesktopModules/DnnForge%20-%20NewsArticles/Tracking/Trackback.aspx?ArticleID=32&PortalID=0&TabID=76 Jimmy Seas, Famous for Pan Pasta, Sold to the Highest Bidder http://www.re-auctions.com/More-/News-Press/articleType/ArticleView/articleId/32/Jimmy-Seas-Famous-for-Pan-Pasta-Sold-to-the-Highest-Bidder Business Real Estate www.mvgazette.com Tuesday, April 8, 2014 - 3:17pm An Oak Bluffs restaurant famous for its heaping servings of pan pasta was sold at a foreclosure auction Tuesday morning. William Craffey bid $450,000 to buy the former home of Jimmy Seas Pan Pasta. He and his business partner Lisa Huff have already invested in the property, which they plan to renovate and reinvent as a pan pasta restaurant, possibly with the same name. Mr. Craffey also operates Vineyard Pizza Place in Vineyard Haven and The Pizza Place at the Edgartown Triangle. Former owner and chef James J. Cipolla, known as Jimmy C, was not present at the auction, run by Daniel McLaughlin and Co. in Boston. There was one other bidder. Mr. Cipolla ran the restaurant for two decades, and said by phone Tuesday that Jimmy Seas had a great run, filled with countless memorable moments. "That building had a lot of soul, and when summer would come, it would be as fun as it gets in the restaurant industry," Mr. Cipolla said. The original Jimmy Seas Pan Pasta occupied a garage on Kennebec avenue. When the landlord raised the rent, the business moved to down the street to a much larger space. Beginning in 1994, the restaurant served pasta right out of the pan at 38 Kennebec, a tradition he’d started in Boston before moving to the Island. “It took off very quickly,” he said. Customers raved about the size of the portions, which they often brought home, he said. "They’d say, we ate that for three days; it was the best meal and the best deal in town." The best sellers were zuppa di pesce and frutti di mare, both seafood pasta dishes. Mr. Cipolla counts many celebrities among his customers, including Beyonce, Steven Tyler, Keith Richards and the Clinton family. Actor Greg Kinnear, a former patron, included a shout-out to Jimmy Seas in the film Stuck on You. "That was our only goal, to make sure that when you mention the restaurant’s name, people had good will about it," he said. "When it was rocking and rolling, we fit more people to a small space than you could possibly imagine." The restaurant was known for being busy during dinner service. A sign outside still reads, "Wait at your own risk, don’t block traffic, we can’t deliver dinner to the hospital." Mr. Cipolla maintained a private, very important person room in his own apartment upstairs, where he claims he once sheltered Chelsea Clinton from paparazzi. When they got word of this seating area, the town selectmen issued a warning on his liquor license. Mr. Cipolla began cooking at age 13, and 40 years later, he admits he has suffered some burnout. The ultimate demise of the restaurant followed a break-in in two winters ago, when an individual was found to be squatting inside, Mr. Cipolla said. The building sustained vandalism and substantial flooding in that incident. "It led us to lose last summer, and we just never really recovered," Mr. Cipolla said. He also suffered some health problems last year, he said. Mr. Craffey and Ms. Huff have 30 days to close the sale. After handing in his deposit, Mr. Craffey said he would do everything in his power to be open for the summer season. "I was getting bored, but that has changed," he said, referring to the laundry list of things he needs to do before he can open the restaurant. For his part, Mr. Cipolla said a new opportunity had “come across his bow” recently. He declined to offer specifics. "Once you are in the restaurant business, you are always in the restaurant business," he said. "It’s in your blood." See more at: http://mvgazette.com/news/2014/04/08/jimmy-seas-famous-pan-pasta-sold-highest-bidder Webmaster Wed, 09 Apr 2014 15:18:00 GMT f1397696-738c-4295-afcd-943feb885714:32 http://www.re-auctions.com/More-/News-Press/articleType/ArticleView/articleId/31/Foreclosure-auction-rescheduled-for-Back-Bay-home-of-Daisy-Buchanans#Comments 0 http://www.re-auctions.com/DesktopModules/DnnForge%20-%20NewsArticles/RssComments.aspx?TabID=76&ModuleID=428&ArticleID=31 http://www.re-auctions.com/DesktopModules/DnnForge%20-%20NewsArticles/Tracking/Trackback.aspx?ArticleID=31&PortalID=0&TabID=76 Foreclosure auction rescheduled for Back Bay home of Daisy Buchanan's http://www.re-auctions.com/More-/News-Press/articleType/ArticleView/articleId/31/Foreclosure-auction-rescheduled-for-Back-Bay-home-of-Daisy-Buchanans Thomas Grillo, Real Estate Editor - Boston Business Journal A foreclosure auction has been rescheduled for the adjoining buildings housing the Daisy Buchanan’s bar and the former Ciao Bello restaurant in Boston's Back Bay. An auction was initially set for March 6, but the sale was postponed. Daniel P. McLaughlin & Co. has re-scheduled the on-site auction for Friday, March 28, at 10 a.m. The properties' formal addresses are 39-41 Fairfield St. and 240A Newbury St. The adjoining properties are assessed at $3.25 million. Joseph P. Cimino borrowed $7.6 million from the U.S. Alliance Federal Credit Union to acquire the two properties as well as two other units at 220 Boylston St. in Boston in 2007, according to records at the Suffolk County Registry of Deeds. Cimino’s attorney, Stephen Miller, at McDermott, Quilty & Miller LLP in Boston, could not be reached for comment. In a previous interview with the Business Journal, Miller said his client is having a dispute with the bank that is expected to be resolved with a refinancing. He predicted the auction will not happen. A U.S. Alliance Federal Credit Union spokeswoman declined comment. In December,  Daisy Buchanan’s had its license suspended for four days  after police found employees serving alcohol to minors in September, the fourth time it has received a violation in the past three years, officials said. Webmaster Mon, 17 Mar 2014 13:09:00 GMT f1397696-738c-4295-afcd-943feb885714:31 http://www.re-auctions.com/More-/News-Press/articleType/ArticleView/articleId/30/Foreclosure-auction-scheduled-for-Daisy-Buchanans-Back-Bay-property#Comments 0 http://www.re-auctions.com/DesktopModules/DnnForge%20-%20NewsArticles/RssComments.aspx?TabID=76&ModuleID=428&ArticleID=30 http://www.re-auctions.com/DesktopModules/DnnForge%20-%20NewsArticles/Tracking/Trackback.aspx?ArticleID=30&PortalID=0&TabID=76 Foreclosure auction scheduled for Daisy Buchanan’s Back Bay property http://www.re-auctions.com/More-/News-Press/articleType/ArticleView/articleId/30/Foreclosure-auction-scheduled-for-Daisy-Buchanans-Back-Bay-property Thomas Grillo, Real Estate Editor- Boston Business Journal The controversial owner of Daisy Buchanan’s, the longtime Newbury Street bar, and the shuttered Ciao Bello restaurant, is facing a possible foreclosure auction on the adjoining Back Bay buildings where the two eateries are located. Daniel P. McLaughlin & Co. has scheduled the on-site auction for Thursday, March 6 at 10 a.m. for 39-41 Fairfield St. and 240A Newbury St. The adjoining properties are assessed at $3.25 million. Joseph P. Cimino, a trustee of JC Realty Trust, borrowed $7.6 million for the property as well as for two units at 220 Boylston St. in Boston from the U.S. Alliance Federal Credit Union in 2007, according to records at the Suffolk County Registry of Deeds. Cimino’s attorney, Stephen Miller, at McDermott, Quilty & Miller LLP in Boston, said his client is having a dispute with the bank that is expected to be resolved with a refinancing. He predicted the auction will not happen. In December, Daisy Buchanan’s had its license suspended for four days after police found employees serving alcohol to minors in September, the fourth time it has received a violation in the past three years, officials said. Webmaster Wed, 26 Feb 2014 20:15:00 GMT f1397696-738c-4295-afcd-943feb885714:30 http://www.re-auctions.com/More-/News-Press/articleType/ArticleView/articleId/29/CanalSide-Commons-on-the-block#Comments 0 http://www.re-auctions.com/DesktopModules/DnnForge%20-%20NewsArticles/RssComments.aspx?TabID=76&ModuleID=428&ArticleID=29 http://www.re-auctions.com/DesktopModules/DnnForge%20-%20NewsArticles/Tracking/Trackback.aspx?ArticleID=29&PortalID=0&TabID=76 CanalSide Commons on the block http://www.re-auctions.com/More-/News-Press/articleType/ArticleView/articleId/29/CanalSide-Commons-on-the-block Cape Cod Times By HEATHER WYSOCKI hwysocki@capecodonline.com August 08, 2013 BOURNE — CanalSide Commons, a controversial multi-use proposal that lingered for over a decade without being built, will be up for auction later this month as part of foreclosure proceedings. The 152-acre property will be auctioned at 11 a.m. Aug. 20, according to Boston-based auctioneers Daniel P. McLaughlin & Co. A minimum bid won't be set by the mortgage lender until the day of the auction, McLaughlin said in a phone interview Wednesday. But the "high-profile" property is already permitted for 300 housing units and 85,000 square feet of retail space and boasts access from Sandwich Road, MacArthur Boulevard and the Bourne Bridge Rotary, which could render it attractive, he said. "There's years and years of permitting that has taken place here. To be able to go in and buy something and not really go through that intense regulatory process is pretty unique," McLaughlin said. And, he added, the 67,000-square-foot Market Basket supermarket built last year in Sagamore "has kind of proven that these gateway locations are pretty desirable for retailers." Developer Lenord "Len" Cubellis first unveiled plans for CanalSide Commons, including 550,000 square feet of retail space, in 1998. After years of back-and-forth, a revised project with 85,000 square feet of commercial space and 300 residential units was approved by state, town and Cape Cod Commission officials. But construction never occurred, and in 2008 Cubellis filed a civil suit against the DeCicco family and its land trust, which owns the property. The suit alleged a breach of contract and ordered the trust to stop its attempts to sell the property to a third party. In July 2010, Cubellis and L. Mark DeCicco settled out of court for $3.8 million. The settlement also transferred Cubellis' long-held development rights back to the landowners. At the time, DeCicco said the family still planned to develop the land. But on June 27, Barnstable Superior Court Judge Gary A. Nickerson approved Cubellis' request to move forward with a foreclosure on the property. In the filing, Cubellis reported a "default in the payment of principal and interest" on the property's mortgage. It was unclear in court records whether the 2010 settlement had anything to do with Cubellis' request to foreclose. Neither Cubellis nor his attorney returned messages seeking comment Wednesday. DeCicco could not be reached. Town of Bourne officials also did not return messages Wednesday. Webmaster Fri, 09 Aug 2013 19:14:00 GMT f1397696-738c-4295-afcd-943feb885714:29 http://www.re-auctions.com/More-/News-Press/articleType/ArticleView/articleId/28/CanalSide-Commons-in-Bourne-to-be-sold-at-auction#Comments 0 http://www.re-auctions.com/DesktopModules/DnnForge%20-%20NewsArticles/RssComments.aspx?TabID=76&ModuleID=428&ArticleID=28 http://www.re-auctions.com/DesktopModules/DnnForge%20-%20NewsArticles/Tracking/Trackback.aspx?ArticleID=28&PortalID=0&TabID=76 CanalSide Commons in Bourne to be sold at auction http://www.re-auctions.com/More-/News-Press/articleType/ArticleView/articleId/28/CanalSide-Commons-in-Bourne-to-be-sold-at-auction Boston Business Journal - Aug 8, 2013, 12:58pm EDT Thomas Grillo Real Estate Editor - Boston Business Journal   The 15-year saga of the proposed CanalSide Commons, a 152-acre parcel in Bourne, Mass. permitted for 300 homes and 85,000 square feet of retail, will come to an end at a foreclosure auction later this month. Daniel P. McLaughlin & Co. will hold the auction on Tuesday, August 20 at 11 a.m., at the property at Sandwich Road, MacArthur Boulevard and the Bourne Bridge Rotary. Prospective bidders are required to have a $100,000 certified or bank check. “This is a very unique and exciting opportunity to purchase and build what may be the last large scale, mixed-use development on Cape Cod,” said Daniel McLaughlin. “This is an approved site at the gateway to the Cape and we expect bids from a retail or housing developer who see the opportunity to own this property where permitting has been done. Market Basket built a successful supermarket at the Sagamore Bridge which is proof that retail works at gateways.” The drama began in 1998 when Len Cubellis agreed to buy the land from the DeCicco family. The approval process took years and in 2008 Cubellis filed suit against the DeCicco family and its land trust alleging a breach of contract and ordered the trust to stop its attempts to sell the property. Two years ago, Cubellis and L. Mark DeCicco settled out of court and the parcel was transferred back to DeCicco. But in June, Barnstable Superior Court approved Cubellis’ request to foreclose on the property for the family’s failure to pay the $3,8 million note held by Cubellis. The parcel is assessed by the town at $2.3 million.   Industries:  Commercial Real Estate Webmaster Fri, 09 Aug 2013 13:51:00 GMT f1397696-738c-4295-afcd-943feb885714:28 http://www.re-auctions.com/More-/News-Press/articleType/ArticleView/articleId/27/Heather-Hill-owners-buy-Plainville-club-for-21M#Comments 0 http://www.re-auctions.com/DesktopModules/DnnForge%20-%20NewsArticles/RssComments.aspx?TabID=76&ModuleID=428&ArticleID=27 http://www.re-auctions.com/DesktopModules/DnnForge%20-%20NewsArticles/Tracking/Trackback.aspx?ArticleID=27&PortalID=0&TabID=76 Heather Hill owners buy Plainville club for $2.1M http://www.re-auctions.com/More-/News-Press/articleType/ArticleView/articleId/27/Heather-Hill-owners-buy-Plainville-club-for-21M PLAINVILLE — A troubled golf course has a set of new owners who have big plans for the facility. Constant Poholek, along with his sister Karen Finocchi and brother-in-law Elmo Finocchi of the Heather Hill Country Club in Plainville, are the new owners of Wentworth Hills Country Club in town, Poholek confirmed in an email and a phone interview Saturday with The Sun Chronicle. The family, which has more than 30 years’ experience in the golf business, were the successful bidders at an auction Friday and were able to purchase the 18-hole golf course, located at 27 Bow St., for $2.1 million.   “We hope to breathe new life into Wentworth Hills,” said an excited Poholek Saturday night. “This is a dream come true,” he said. With Wentworth Hills combined with Heather Hill, Poholek said he hopes to put Plainville on the map to become know for golf, “now that we have two great courses in one area,” he said. In the short term, Poholek said he plans to immediately improve Wentworth Hills’ driving range and start a golf school. He also plans on adding a new fleet of modernized golf carts.  And the new computerized system that was recently put in place at Heather Hill will be added to Wentworth Hills he said. The purchase and bidding weren’t easy, as his group was one of 7-10 bidders that attended Friday’s auction to buy the country club, Poholek said. He said his goal was to try to keep the facility locally owned, and operating as a golf course. One bidder, he said, wanted to turn the course into an apple orchard. He said he is thrilled that his $2.1 million bid was the winning bid for the 143-acre course located at 27 Bow St. The course has been in financial trouble for years. It went bankrupt and was auctioned in 2006 for $3.7 million and then closed down again due to debt problems before reopening in 2011. It is a par-71 golf course, which is partially located in Plainville, Cumberland, and Wrentham. For long-range plans, Poholek said he hopes to make the facility, a full family-friendly golf course.  He said he wants to hold events where the hold family comes for the day. He said the facility also has a number of buildings, one of which can be converted for year round use, for, indoor golf. And, as he looks 5-10 years down the road, he has more plans in the works, he said. Webmaster Fri, 22 Feb 2013 10:46:00 GMT f1397696-738c-4295-afcd-943feb885714:27 http://www.re-auctions.com/More-/News-Press/articleType/ArticleView/articleId/26/Former-Regatta-of-Cotuit-bought-at-auction#Comments 0 http://www.re-auctions.com/DesktopModules/DnnForge%20-%20NewsArticles/RssComments.aspx?TabID=76&ModuleID=428&ArticleID=26 http://www.re-auctions.com/DesktopModules/DnnForge%20-%20NewsArticles/Tracking/Trackback.aspx?ArticleID=26&PortalID=0&TabID=76 Former Regatta of Cotuit bought at auction http://www.re-auctions.com/More-/News-Press/articleType/ArticleView/articleId/26/Former-Regatta-of-Cotuit-bought-at-auction Cape Cod Times - By ROBERT GOLD rgold@capecodonline.com October 16, 2012   COTUIT — The owner of a Mashpee motel was the winning bidder for The Regatta, a fine dining restaurant in Cotuit that closed last month. Peter Menounos, who owns the Santuit Inn in Mashpee, said he placed a successful bid of $555,000 last week for the Route 28 restaurant. He said the deal for the property hasn't been closed yet. The Cotuit resident said he's in the process of figuring out what type of restaurant he will open in the building. "It remains to be seen exactly what it will be," he said. The Regatta was originally opened about 30 years ago by Brantz Bryan. Weldon Fizell, the most recent owner and chef, bought the Regatta about six years ago. He closed the restaurant last month, notifying people on the restaurant's Facebook page with a posting that said "it is hard to believe the ride has ended." According to the website of Daniel P. McLaughlin & Co., a Boston-based auctioneer, the auction was held Oct. 11. The property includes three dining rooms, a 14-seat bar, patio dining area, a kitchen, two other rooms and parking for about 50 cars. The auctioneer did not return a call seeking comment. Menounos said he hasn't decided whether to keep the Regatta as the restaurant's name. That may be determined on the style of restaurant. Regardless of what Menounos chooses, he said he won't re-open until the spring. Any renovations won't alter the style or "gorgeous charm" of the building, he said. "I'm not looking to corrupt the integrity of the property at all," he said. Five years ago, the business owner bought the Santuit Inn, which is a short drive along Route 28 from the the Regatta building. Menounos said his partner in the Cotuit restaurant is Paul Roiss, a Boston real estate developer who also co-owns several restaurants such as Mistral, a French cuisine restaurant in Boston's South End, and Mooo, a steak house on Beacon Hill. Webmaster Tue, 16 Oct 2012 17:33:00 GMT f1397696-738c-4295-afcd-943feb885714:26 http://www.re-auctions.com/More-/News-Press/articleType/ArticleView/articleId/25/Shaker-Hills-Golf-Club-sold-at-auction-for-34M#Comments 0 http://www.re-auctions.com/DesktopModules/DnnForge%20-%20NewsArticles/RssComments.aspx?TabID=76&ModuleID=428&ArticleID=25 http://www.re-auctions.com/DesktopModules/DnnForge%20-%20NewsArticles/Tracking/Trackback.aspx?ArticleID=25&PortalID=0&TabID=76 Shaker Hills Golf Club sold at auction for $3.4M http://www.re-auctions.com/More-/News-Press/articleType/ArticleView/articleId/25/Shaker-Hills-Golf-Club-sold-at-auction-for-34M By Bill Doyle WORCESTER TELEGRAM & GAZETTE STAFF wdoyle@telegram.com HARVARD —  Frederick J. “Skip” Curtis of Princeton purchased Shaker Hills Golf Club yesterday morning for $3.4 million at a foreclosure auction in the parking lot outside the clubhouse.   Curtis, a Worcester Country Club member with a 3 handicap, said he planned to re-open Shaker Hills as a golf course this year. The course closed in February when the previous owners defaulted on their $2.13 million mortgage with Middlesex Savings Bank. The sale is scheduled to close in 45 days.   “A dream come true I think,” Curtis said. “I think it’s a spectacular property, and I think it has potential.”   Curtis declined comment on whether Shaker Hills would remain open to the public or become a private course, saying it was premature to discuss his plans for the club.   Fourteen bidders registered with McLaughlin & Co. Auctioneers of Boston. Norman Kenney, one of the club’s former owners, was among the 70 or so people who attended the auction. Kenney spoke briefly with Curtis after the auction.   Curtis was accompanied at the auction by his fellow St. John’s High graduate and Worcester CC member Tim Valas of Shrewsbury, who Curtis said may help him manage the golf club. Neither Curtis nor Valas has run a golf course, so Valas said they’ll rely on advice from friend Tad Page, whose family owns Butternut Farm Golf Club in Stow.   Curtis makes his money from private investments and commercial real estate. Previously, he served as president of Curtis Tractor Cab Inc. in Worcester and was honored as Massachusetts Small Business Person of the Year and as second runner-up as National Small Business Person of the Year in 2005. Valas is a retirement sales executive for benefits provider Aon Hewitt.   Curtis and Valas have golfed at Shaker Hills many times. “We think it’s got some really great qualities and good, challenging golf,” Valas said.   Middlesex Savings Bank hired Ed Kennedy III, superintendent at his family’s Butter Brook Golf Club in Westford, to maintain Shaker Hills for the last month and he will continue to do so until the sale closes. Kennedy said he retained Mike Sisti, the club’s superintendent the past three years, to help him maintain the course.   Kennedy was among the registered bidders yesterday, but he did not bid. He said his family tried unsuccessfully to purchase the club before the auction.   Kennedy said the central controller irrigation system was struck by lightning in July 2010 and must be replaced at a cost of close to $300,000. In the meantime, most controllers need to be turned on by hand. Kennedy estimated it would cost $1 million to $1.5 million to pay back taxes, make necessary improvements and replace the tables, chairs, freezers and other equipment that had been removed from the clubhouse and maintenance building.   The clubhouse is located in Ayer and the course is located in Harvard. The 6,800-square-foot Princeton home where Curtis lives with his wife, Sarah, and their six children was featured in Worcester Living magazine last year.   Shaker Hills became the third Central Mass. golf course to be sold at a foreclosure auction in less than two years. Sterling National Country Club sold for $4.2 million in May 2010 and Pleasant Valley Country Club in Sutton sold for $5 million in November 2010.   Shaker Hills opened in 1991 and was soon rated by Golf Digest as the No. 1 public course in the state and No. 4 among private and public courses in Massachusetts, but fell on hard times after the economy soured and such other golf courses as Red Tail Golf Club in Devens and Butter Brook Golf Club opened nearby. Webmaster Fri, 13 Apr 2012 15:03:00 GMT f1397696-738c-4295-afcd-943feb885714:25 http://www.re-auctions.com/More-/News-Press/articleType/ArticleView/articleId/24/34-winning-bid-at-Shaker-Hills-Golf-Course-foreclosure-auction#Comments 0 http://www.re-auctions.com/DesktopModules/DnnForge%20-%20NewsArticles/RssComments.aspx?TabID=76&ModuleID=428&ArticleID=24 http://www.re-auctions.com/DesktopModules/DnnForge%20-%20NewsArticles/Tracking/Trackback.aspx?ArticleID=24&PortalID=0&TabID=76 $3.4 winning bid at Shaker Hills Golf Course foreclosure auction http://www.re-auctions.com/More-/News-Press/articleType/ArticleView/articleId/24/34-winning-bid-at-Shaker-Hills-Golf-Course-foreclosure-auction By Mary E. Arata, marata@nashobapub.com www.nashobapublishing.com Posted:   04/12/2012 03:36:14 PM EDT AYER/HARVARD - A Princeton real estate developer made the winning $3.4 million bid Thursday morning during the foreclosure auction of the Shaker Hills Golf Course. Frederick Curtis spoke briefly to reporters after the dust settled. The auction was called by Middlesex Savings Bank and conducted by Daniel McLaughlin & Co. of Boston. Curtis was one of 14 bidders qualified to partake in the auction. The entry ticket was a $50,000 certified check with the closing to occur within the next 45 days. Curtis promised more information later, stating the business plan for the new management of the 18-hole golf course was still in the works. However, Curtis said that the course would reopen at some point for golf. Curtis did not disclose whether the course would remain public or become a private course. It's also not clear if the facility which straddles the Ayer and Harvard town lines would remain as is or undergo any other development. Asked why he purchased Shaker Hills without having any personal prior golf course management experience, Curtis said simply it was a 'dream come true" to own a course, adding "I think it's a spectacular property." Curtis said that he has played Shaker Hills before, though he typically plays out of the Worcester Country Club. "I'm a low, single-digit handicap," said Curtis about his own game. Curtis laughed when asked why he didn't' immediately get into the mix on the initial bidding. "That was slow motion." An opening bid of $500,000 was dismissed by auctioneer Daniel McLaughlin, "How about a realistic opening offer - two and a half million?" The sum was initially met with silence, but on went the auctioneer's banter. McLaughlin backed down in half million dollar increments until interest sparked at $1.5 million, and a mini bidding war began between three parties. Curtis initially hung back, but drove the price up to the $3.4 million winning bid. McLaughlin looked for more from the crowd. "It's only money," McLaughlin said before closing the auction on Curtis' winning bid Frederick J. Curtis Jr. is a name associated with several corporations according to the Secretary of State's Corporations Division database. Curtis appears as an officer or director in several entities, including D&A Industries Realty Corp, which reports its industry as 'rentals.' Curtis is also an official with M&F Industries, which is self-identified as a 'patent holding company.' And Curtis' name is linked to the Fred III Industries Business Trust, formerly known as Curtis Tractor Cab Co., which identified its business as 'manufacturing.' Curtis is also listed as the manager for the TrunkUp and Micky's Luck real estate development corporations of Princeton, as well as the Sandpit One vehicle investment and leasing corporation of Princeton. Follow Mary Arata at www.Twitter.com/maryearata . Read more: http://www.nashobapublishing.com/ci_20381535/3-4-winning-bid-at-shaker-hills-golf#ixzz1rvg3hzGC Webmaster Fri, 13 Apr 2012 14:01:00 GMT f1397696-738c-4295-afcd-943feb885714:24 http://www.re-auctions.com/More-/News-Press/articleType/ArticleView/articleId/23/Shaker-Hills-to-be-sold-at-auction-on-Thursday#Comments 0 http://www.re-auctions.com/DesktopModules/DnnForge%20-%20NewsArticles/RssComments.aspx?TabID=76&ModuleID=428&ArticleID=23 http://www.re-auctions.com/DesktopModules/DnnForge%20-%20NewsArticles/Tracking/Trackback.aspx?ArticleID=23&PortalID=0&TabID=76 Shaker Hills to be sold at auction on Thursday http://www.re-auctions.com/More-/News-Press/articleType/ArticleView/articleId/23/Shaker-Hills-to-be-sold-at-auction-on-Thursday Bill Doyle Golf wdoyle@telegram.com Mike Herrick had worked at Shaker Hills Golf Club in Harvard for 13 years, including 11 as head pro, when he received some shocking news in February — the club was closing and would be sold at a foreclosure auction.   “I thought we were in pretty good shape,” Herrick said Friday, “but then I heard what was going on, and I was told we had like a week to go.”   That’s right, only a week. “Obviously,” Herrick said, “in the beginning I was devastated after putting so much time and effort in. I had my family and was very rooted in the community, and to one day turn around and it’s all gone. Where does a golf professional go to find another job in the area in such a tough market? We were figuring we’d have to move out of state possibly.”   Herrick was lucky enough to be hired just a week after Shaker Hills closed, as the head pro at Wedgewood Pines CC, a private club in Stow.   “I’m happy to be here,” Herrick said. “It’s a great facility.” The fate of Shaker Hills, on the other hand, is still to be determined. A foreclosure auction is scheduled for 11 a.m. Thursday at the club. According to the Boston Business Journal, a legal notice said Shaker Hills received a $2.13 million mortgage from Middlesex Savings Bank in Natick, but failed to meet its obligations.   The club could declare bankruptcy before the auction, but in an email, Dan McLaughlin, owner of McLaughlin & Co. Auctioneers of Boston, said the auction is still on schedule.   “We fully expect that the auction will happen at that time,” McLaughlin said. McLaughlin, by the way, is a co-owner of two golf courses, Shining Rock GC in Northbridge and Hopkinton CC.   Many clubs are struggling due to the weak economy and the construction of too many golf courses in the region. Shaker Hills would be the third golf course in Central Massachusetts to be sold at a foreclosure auction in less than two years. The Jan Company purchased Sterling National Country Club for $4 million at a foreclosure auction in May 2010, and John Magill, owner of Highfields Golf and Country Club in Grafton, purchased Pleasant Valley Country Club in Sutton for $5 million at a foreclosure auction the following November.   Brian Silva, one of the club’s four owners, designed Shaker Hills, which opened in 1991. In the early 1990s, Golf Digest rated Shaker Hills as the No. 1 public course in the state and No. 4 among private and public courses.   “It just goes to show you how many courses opened up in the last 20 years,” Herrick said.   Red Tail Golf Club, also designed by Silva, opened in 2001 in Devens less than 10 minutes from Shaker Hills and was one of many newer courses that lured away golfers.   “I’m sure they all hurt,” Herrick said. “In our heyday back then, there was no Granite Links, no Pine Hills. Then all of a sudden Butter Brook and Red Tail opened. There were a lot of courses that opened.”   Shaker Hills lowered its greens fees last year in an attempt to attract more customers.   “We weren’t too bad,” Herrick said. “I thought we were busier than most places to be honest. I’d hear people come in on a Wednesday and say, ‘I just played XYZ courses, and they had no one there, and I’ve played here, and you look busy.’ I heard that a lot. For whatever reason, it didn’t work out. I don’t know why.”   The course, which features elevated tees and tree-lined fairways, is located in Harvard, and the clubhouse sits in Ayer. For seven years, Shaker Hills served as the qualifying site for the Champions Tour’s Bank of America Championship at Nashawtuc CC. Webmaster Wed, 11 Apr 2012 13:13:00 GMT f1397696-738c-4295-afcd-943feb885714:23 http://www.re-auctions.com/More-/News-Press/articleType/ArticleView/articleId/22/Shaker-Hills-Golf-Club-to-be-auctioned#Comments 0 http://www.re-auctions.com/DesktopModules/DnnForge%20-%20NewsArticles/RssComments.aspx?TabID=76&ModuleID=428&ArticleID=22 http://www.re-auctions.com/DesktopModules/DnnForge%20-%20NewsArticles/Tracking/Trackback.aspx?ArticleID=22&PortalID=0&TabID=76 Shaker Hills Golf Club to be auctioned http://www.re-auctions.com/More-/News-Press/articleType/ArticleView/articleId/22/Shaker-Hills-Golf-Club-to-be-auctioned Boston Business Journal by Thomas Grillo, Real Estate Editor Date: Friday, March 16, 2012, 12:07pm EDT Shaker Hills Golf Club in Harvard is facing the auction gavel.   Attorneys for the Middlesex Savings Bank   have set the date for a foreclosure auction to be held on Thursday, April 12, at 11 a.m. at 146 Shaker Road, according to a legal notice.   The 18-hole championship golf course features a 13,000-square-foot clubhouse with functions rooms, a restaurant and bar, kitchen, locker rooms, pro shop, and members lounge area. Shaker Hills includes three parcels of property along Shaker Road.   Club owners could not be reached for comment. The phone number listed for Shaker Hills was not in service.   Shaker Hills received a $2.13 million mortgage from Middlesex Savings Bank, but failed to meet its obligations, the legal notice said.   Most of the 163-acre course is located along Shaker and Sheehan roads in Harvard, while the clubhouse and grill pub are in Ayer.   Golf courses began hitting hard times in 2009,according to industry sources. In the late 1990s and early 2000s, an oversupply of public and private golf courses developed. But by the mid-2000s, the ranks of golfers began to dwindle. Since 2005, when it peaked at 30 million, the number of golfers has dropped 9.6 percent to 27.1 million in 2009, the most recent data available. Webmaster Wed, 04 Apr 2012 13:56:00 GMT f1397696-738c-4295-afcd-943feb885714:22 http://www.re-auctions.com/More-/News-Press/articleType/ArticleView/articleId/21/Another-Boston-golf-course-hits-the-foreclosure-auction-block#Comments 0 http://www.re-auctions.com/DesktopModules/DnnForge%20-%20NewsArticles/RssComments.aspx?TabID=76&ModuleID=428&ArticleID=21 http://www.re-auctions.com/DesktopModules/DnnForge%20-%20NewsArticles/Tracking/Trackback.aspx?ArticleID=21&PortalID=0&TabID=76 Another Boston golf course hits the foreclosure-auction block http://www.re-auctions.com/More-/News-Press/articleType/ArticleView/articleId/21/Another-Boston-golf-course-hits-the-foreclosure-auction-block Emily Kay - Boston Golf Examiner Golf season may have come early to New England, but players hoping for a quick 18 at Shaker Hills Golf Club in Harvard, Mass., will have to go elsewhere for now. The 18-hole, Brian Silva-designed course closed in December and if it reopens, it will be under new ownership after a foreclosure auction in April.   Daniel McLaughlin, who owns two courses of his own, will handle the April 12 auction for Middlesex Savings Bank, he told us on Friday. The Massachusetts-based financial institution holds the mortgage on the property, which the Boston Business Journal reported was for $2.13 million. Fresh from banging the gavel on Thursday’s sale of Amherst’s Hickory Ridge Country Club to a partner in a New Jersey golf course-management firm, McLaughlin will welcome would-be buyers of the 168-acre facility on April 12 at 11 a.m. in the clubhouse at 146 Shaker Road. Long a favorite of golfers outside the Boston metro area, the public course that plays to 6,850 yards from the tips opened in 1991. Like many operations in New England and worldwide (see: Pleasant Valley CC, Georgetown CC, Wentworth Hills GC, Sterling National CC, et al), Shaker Hills fell victim to the sour economy. The bank issued a foreclosure notice on the property in January, and club owners owed $20,597.37 in real estate taxes to the town of Harvard for 2011 and 2012, according to Debbie Nutter, the town's treasurer and collector.   One of the reasons for the club’s problems was the opening of newer courses like the highly acclaimed Red Tail Golf Club in nearby Devens.   “Shaker probably failed to adapt to competition from newer courses like Red Tail, which is not too far away,” said a local golfer with knowledge of the business climate. “If the price differential were only a few bucks, people were going to go play Red Tail.”   McLaughlin, whose Daniel P. McLaughlin & Co. handled the December auction of Dartmouth’s Hawthorne Country Club as well as last June’s sale of the Ridge Club in Sandwich, expected a good deal of interest in Shaker Hills. “It’s a great course and a very nice clubhouse,” he said.   While no one in the golf industry enjoys seeing courses go under, McLaughlin suggested that changes in ownership did not necessarily signal the end of hackers’ favorite haunts.   “Some 150 members showed up to the Hickory Ridge auction and [Jay Craig, the new owner] sat them all down in the function room and talked about his plans,” said McLaughlin, who owns Shining Rock Golf Club in Northborough and Hopkinton (Mass.) Country Club. “He was definitely interested in talking to the members and plans to be a hands-on operator.”   The Shaker Hills auction will also involve the 13,000-square-foot clubhouse with a restaurant and bar, function rooms, kitchen, locker rooms, pro shop, and lounge area. The 5.33-acre clubhouse is actually situated in Ayer, while the course is in Harvard. Webmaster Wed, 04 Apr 2012 13:31:00 GMT f1397696-738c-4295-afcd-943feb885714:21 http://www.re-auctions.com/More-/News-Press/articleType/ArticleView/articleId/20/Hickory-Ridge-in-Amherst-sold-to-New-Jersey-based-golf-course-management-company#Comments 0 http://www.re-auctions.com/DesktopModules/DnnForge%20-%20NewsArticles/RssComments.aspx?TabID=76&ModuleID=428&ArticleID=20 http://www.re-auctions.com/DesktopModules/DnnForge%20-%20NewsArticles/Tracking/Trackback.aspx?ArticleID=20&PortalID=0&TabID=76 Hickory Ridge in Amherst sold to New-Jersey based golf course management company http://www.re-auctions.com/More-/News-Press/articleType/ArticleView/articleId/20/Hickory-Ridge-in-Amherst-sold-to-New-Jersey-based-golf-course-management-company Published: Thursday, March 15, 2012, 12:46 PM By Diane Lederman, The Republican AMHERST – A partner and owner in a New Jersey-based golf course management company paid $1,000,050 for the Hickory Ridge Country Clubat a TD Bank foreclosure auction Thursday. Jay Craig, a partner in Appliedgolf in Millstone Township, N.J., said he doesn’t know if he will own the course personally or whether his company will own it. He owns three other courses himself. Appliedgolf owns and manages about 13 courses from New Jersey to St. Petersburg, Fla., he said. Hickory Ridge is the furthest north the company has gone. There were several other unidentified bidders. The auction opened at $1 million but when no one bid, the price was dropped to $750,000 before climbing back up. The 18-hole course includes a restaurant, banquet facility and pro shop. According to the latest assessor’s records, the 150-acre course is valued at nearly $1.3 million. Craig said he had been talking to former owner Douglas Harper, who bought the course in 2003 for about $3.5 million, for 2½ years about purchasing the course before the bank “forced the issue,” he said. “We’re on very friendly terms,” he said. He said some of the staff will remain. Craig said the course will focus on a semi-private model, which caters to its members and invited guests. He was hoping to open the course in about two weeks, but declined to bid on the equipment sold at auction separately. He didn’t think it was worth the $75,000 the bank bid. He said he hopes to open in mid-April and will send out mailings to members today. About 100 people packed the banquet room for the auction, including many golfers who waited after the auction to hear the course’s fate. Patty Freedson of Belchertown has golfed the course for 20 years. “I love the course, I love the people.” she said. Hadley resident Michael Pequignot has also played at the course for 20 years. “It’s a great course. Great people, it’s convenient,” he said. Pequignot, who’s retired, said he plays every day. Last week, the former owner of the clubhouse at the nine-hole Northampton County Club and the mortgage holder bought the clubhouse for $600,000 at a foreclosure auction. The purchase included rights to the 9-hole course. According to the Appliedgolf website, the company vision “is to create the highest quality golf and club experience while maintaining personal involvement with the members, employees, and club-owners ensuring their long-term profitability.” Webmaster Fri, 16 Mar 2012 13:20:00 GMT f1397696-738c-4295-afcd-943feb885714:20 http://www.re-auctions.com/More-/News-Press/articleType/ArticleView/articleId/19/Dartmouth-banquet-facility-sold-for-25M-at-auction#Comments 0 http://www.re-auctions.com/DesktopModules/DnnForge%20-%20NewsArticles/RssComments.aspx?TabID=76&ModuleID=428&ArticleID=19 http://www.re-auctions.com/DesktopModules/DnnForge%20-%20NewsArticles/Tracking/Trackback.aspx?ArticleID=19&PortalID=0&TabID=76 Dartmouth banquet facility sold for $2.5M at auction http://www.re-auctions.com/More-/News-Press/articleType/ArticleView/articleId/19/Dartmouth-banquet-facility-sold-for-25M-at-auction By Steve Urbon - www.SouthCoastToday.com surbon@s-t.com December 06, 2011 12:00 AM DARTMOUTH — The Hawthorne Country Club was auctioned off Monday morning for $2.5 million to Kevin Santos, owner of the Waterfront Grille in New Bedford. Santos immediately made it clear he has no interest in selling it to a developer but rather that he wants to repair and upgrade the facility and keep it in the golf and banquet business. TD Bank had foreclosed on the property after the estate of the late owner, William Schuler, failed to meet payments. The auction attracted a half dozen bidders and a crowd of about 75 people in the building's parking lot. Auctioneer Dan McLaughlin tried to open the bidding at $2.5 million but got no bids until he went down to $1.5 million. From there, it came down to a contest between Santos and Carlos Rafael, owner of a large New Bedford fishing fleet and scallop facility. But Rafael stopped bidding at $2.4 million: "I'm out." And Santos, standing next to him, won with a $2.5 million bid that McLaughlin let hang in the air for at least a minute. Rafael told The Standard-Times that in his estimation the property, which includes the clubhouse, banquet facility and nine-hole golf course with an expansive view of the Paskamansett Valley, is worth between $1.9 million and $2.1 million. "The building has problems," Rafael said. "For one thing, it needs a new roof. That's $100,000. And the kitchen needs to be improved." When the bidding passed $2.1 million, "that was the ball game," he said. But that didn't deter Santos. "Hawthorne Country Club is a magnificent piece of real estate," Santos said. "I have lived in Dartmouth all my life and I don't want this to go to a developer. "We're going to continue operations as existing." The kitchen, he said, needs a rehab, along with other improvements. Santos cemented his bid with a $20,000 deposit check; the remainder of the price must be paid within 30 days or the property goes to the second-highest bidder, which would be Rafael. The future of the 55-acre club has been uncertain since Schuler died in March. The Tucker Road club, which has been in business for more than 40 years, closed Nov. 20 after holding the last scheduled events, but the staff remained hopeful that the closure was just for the season and that it would reopen by spring. Pam Williams, the club's controller, said Hawthorne in October began warning customers who had booked events there for next year or beyond to look for alternative venues. It held all of the remaining weddings and other events planned for this fall and returned deposits to people who booked future dates, Williams said. Anne Arsenault, manager of the banquet facility, said she is pleased that Santos intends to preserve "this important landmark." She said it was important that the club managed to refund all of the deposits to people who had booked events. "We'll keep them on the books," she said. "There's a potential bright future, and the golfers would like to stay here, too." She said the transfer to new ownership is "very happy but very sad" but she thinks highly of Santos, whom she knows for his ownership of the very successful Waterfront Grille. The property is classified as recreational land under state law, Chapter 61B, which provides preferential tax treatment in return for preservation. The club's banquet space includes a main room that can hold up to 350 people. It employs up to 55 people, mostly part-time, during its busy season. Schuler, who lived in Marion, bought the business in 1969 and sold it in the mid-1970s. He bought it back in 1984. Auctioneer Daniel P. McLaughlin, center, points to Carlos Rafael, far right, for one last chance to top the final bid posted by winner Kevin Santos, far left, at the auction of the Hawthorne Country Club in Dartmouth Monday. Peter Pereira/The Standard-Times Webmaster Tue, 06 Dec 2011 14:08:00 GMT f1397696-738c-4295-afcd-943feb885714:19 http://www.re-auctions.com/More-/News-Press/articleType/ArticleView/articleId/18/Waterfront-Grille-owner-buys-Hawthorne-Country-Club#Comments 0 http://www.re-auctions.com/DesktopModules/DnnForge%20-%20NewsArticles/RssComments.aspx?TabID=76&ModuleID=428&ArticleID=18 http://www.re-auctions.com/DesktopModules/DnnForge%20-%20NewsArticles/Tracking/Trackback.aspx?ArticleID=18&PortalID=0&TabID=76 Waterfront Grille owner buys Hawthorne Country Club http://www.re-auctions.com/More-/News-Press/articleType/ArticleView/articleId/18/Waterfront-Grille-owner-buys-Hawthorne-Country-Club By Steve Urbon - www.SouthCoastToday.com surbon@s-t.com December 05, 2011 12:45 PM DARTMOUTH — The Hawthorne Country Club was auctioned off this morning for $2.5 million to Kevin Santos, owner of the Waterfront Grille in New Bedford. Santos immediately made it clear that he has no interest in selling it to a developer, but rather that he wants to repair and upgrade the facility and keep it in the golf and banquet business. TD Bank had foreclosed on the property after the estate of the late owner, William Schuler, failed to meet payments. The auction attracted a half-dozen bidders and a crowd of about 75 people in the building’s parking lot. Auctioneer Dan McLaughlin tried to open the bidding at $2.5 million but got no bids until he went down to $1.5 million. From there, it broke down to a contest between Santos and Carlos Rafael, owner of a large New Bedford fishing fleet and scallop facility. But Rafael stopped bidding at $2.4 million: “I’m out.” And Santos, standing next to him, won with a $2.5 million bid that McLaughlin let hang in the air for at least a minute. Rafael told The Standard-Times that in his estimation the property, which includes the clubhouse, banquet facility and nine-hole golf course with an expansive view of the Paskamansett Valley, is worth between $1.9 million and $2.1 million. He said that the building has problems, and needs a new roof among other repairs and upgrades. “Hawthorne Country Club is a magnificent piece of real estate,” Santos said. “I have lived in Dartmouth all my life, and I don’t want this to go to a developer.” “We’re going to continue operations as existing.” The kitchen, he said, needs a rehab, along with other improvements. Santos cemented his bid with a $20,000 deposit check; the remainder of the price must be paid within 30 days or the property goes to the second-highest bidder, which would be Rafael. Webmaster Mon, 05 Dec 2011 19:06:00 GMT f1397696-738c-4295-afcd-943feb885714:18