(Pursuant to Reorganization RE: FYM, LLC)
7,260+/- GBA Potential In-Town Estate or Historic Income Property
1-3 story Georgian post & beam house with numerous additions over time
On .17+/- acres w/ fenced private patio & parking
Zoning: GB - General Business, Historic Hill District, in National Historic Landmark District
Built for John Gidley in 1744, by 1850 the property was in use as the “Pelham Street House” hotel with a variety of hospitality & multi-unit rental uses thereafter. While in use as 4+/- rental units, there was a 3rd story water supply leak in July of 2021 which led to emergency mitigation gutting of the interior down to the studs. The property has been under renovation with the intent to create 10-unit short-term rental units comprised of (8) 1BR/1BA guest rooms, (2) 2BR/2BA suites & common areas within the existing footprint, retaining the parking lot & patio. GB zoning allows for a variety of additional uses including residential, home occupation & professional offices as permitted.
Close to shopping, restaurants, hotels, harbor & attractions
10% certified deposit of which $50,000 by certified or bank check due at the auction and remainder of 10% due 4pm ET on Monday, April 7, 2025. 30 days to close. 5% BP added to the high bid to constitute the purchase price. Other terms, if any, to be announced at the sale. Announcements or changes made from the auction block or within the purchase agreement take precedence over any previously printed materials or oral statements made.
Must be tendered on a signed JJManning approved P&S Agreement & accompanied by a 10% certified deposit in certified or bank check or by confirmed wire transfer in order to be considered.