SALISBURY — A second try at auctioning off the Brazzale property has apparently paid off.
At a foreclosure auction Aug. 11, the Lincoln City Road property fetched $375,000, up $150,000 from an auction held on the premises four months ago. The successful bidder was Salisbury contractor Roger W. Hedman, according to Lakeville lawyer Scott Warner, the court-appointed attorney overseeing the sale.
At the original auction in April, Jay Horowitz, co-owner of Morgan Lehman, an art gallery in Lakeville, offered $235,000 for the property, which was most recently appraised for $575,000. But at a subsequent court hearing on whether to approve the sale to Horowitz, Brazzale attorney Mike Sconyers filed an objection, arguing that Brazzale was in the midst of refinancing.
He asked a Litchfield Superior Court judge to order a second sale so that Brazzale could either refinance or find another buyer. Brazzale further argued that the wide disparity between the sale price of the property and its appraised value merited an attempt at finding a buyer willing to pay more for the land and its structures.
The auction sale included only the real estate, three dwellings and various outbuildings on the 2.46-acre property, not the heavy equipment remaining from the defunct construction business. Warner said there were three bidders, in addition to Salisbury Bank & Trust. Hedman’s successful bid was the 13th bid.
On Sept. 18, 2006, a judgment rendered in Litchfield Superior Court found that Brazzale had outstanding debt of almost $225,000 owed to Salisbury Bank & Trust. Including interest and other penalties, Brazzale’s debt has likely increased. According to records in the Salisbury town clerk’s office, since 2000 Brazzale has had several liens placed on the property for nonpayment of debts and state or federal taxes. With the exception of Salisbury Bank & Trust, those liens have been released. Brazzale is a former longtime chief of The Lakeville Hose Company.
The court typically approves or rejects the sale within 30 to 60 days, Warner said. Kevin Nelligan, the attorney representing Salisbury Bank, did not return a telephone call seeking comment.
— Terry Cowgill
