Troubled Atkins Road Property Auctioned Off For $1 2 M capenews.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from capenews.net Daily Mail and Mail on Sunday newspapers.
NEW BEDFORD After being forced to leave business at sea following a federal settlement, Carlos Rafael, in yet another move, appears to be setting roots on land.
The winning bidder of the former Merchants National Bank property that sold at auction last month was Bliss Investors LLC, a company managed by Rafael s family.
The historic structure, which sits at the intersection of William and Purchase streets in downtown New Bedford, sold at auction in late January.
Justin Manning, president of JJManning Auctioneers, said in an email last month that the property sold for $770,000. There were nine registered bidders, but he said they do not disclose their names.
FRAMINGHAM The famed Framingham Sheraton Hotel and Conference Center was sold for $15 million at auction Tuesday.
People’s United Bank, which owns the first mortgage on the property, was the winning bidder of the iconic 376-room hotel that is designed to look like a castle and is visible from Rte. 9 and the Mass Pike.
“It was a buy-back by the mortgagee,” said Justin Manning, president of JJ Manning Auctioneers. “Nobody beat the lender.”
The facility could possibly remain a hotel or may be sold, said Manning.
The property, which includes the hotel and conference center, an outdoor pool and a 34,376-square-foot parking garage, was last assessed at $33.1 million, according to the Framingham Assessor’s Office.