Auction today for prime property in North Adams
NORTH ADAMS -- A prime piece of commercial real estate in downtown North Adams will be up for auction this afternoon.
The 22,560-square-foot, two-story former office building at 25 Marshall St., owned by John and Edith Lew, used to house numerous businesses and, most recently, a mental health and substance abuse clinic.
The property, which is near Mass MoCA and City Hall, had been listed on the market for the past six months by Jennifer Segala, owner of Steepleview Realty.
"We had many showings and interested parties in the property," Segala told The Eagle. "But, we thought during this time of year, an auction was the best way to bring people to the bargaining table and be able to listen to all reasonable offers."
The Lews, who are in the mid-80s, said the reason to sell the property wasn't because of any kind of financial distress. They just wanted to finally retire and didn't want to put any more time and energy into renovations.
Segala said there will be a starting bid based on the expense of the sale of the property and the money needed to pay for a change of title and other fees.
The auction, conducted by Aaron Posnik Inc., of Springfield, will begin at 2 p.m., and will be conducted as an "absolute auction," which gives ownership of the building to today's highest bidder.
"Whoever is interested in this property is going to want to show up and bid," Segala said. "It's going to be a deal of a lifetime."
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