Presque Isle Inn sold at Auction

Published: Apr. 28, 2023 at 1:14 PM EDT
Email This Link
Share on Pinterest
Share on LinkedIn

PRESQUE ISLE, Maine (WABI) - Going once…going twice…The Presque Isle Inn and Convention Center was sold at auction Thursday afternoon.

The property, which has remained vacant since it’s sudden closure in January, sold for a total of $795,000 following just under 10 minutes of bidding.

This price is far below the assessed value of $2.16 million.

The auction was held on behalf of Machias Savings Bank by auction company Tranzon, who could not disclose the identity of the buyer due to confidentiality.

“$795,000going twice! Last chance, everybody good? We good? Thank you all for being here, thank you, thank her the most, give her a big round of applause, bidder number 947 for $795,000. Congratulations!” announced Mike Carey, Tranzon Auction Properties co-CEO.

The buyer declined to speak with WAGM following the auction, however in an open air conversation it was stated that they plan to use the property as some form of housing.