Bids for Lighthouse Inn Close Tomorrow

Public proposals for the Lighthouse Inn will close tomorrow, May 28, at 2:00pm. 

The city hopes that the four-acre property will be rehabilitated and that the new owners will restore its function as an inn. 

The city's first attempt to sell the property last year failed because no one bid.  The significant repairs and resolution of legal and tax issues will make the Lighthouse Inn will make the Inn more attractive this time around, suggests Kenneth R. Gosselin at "Property Line," the Hartford Courant's real estate blog. 

Steel tycoon Charles S. Guthrie built the Lighthouse Inn in 1902 as his country home. The grounds were originally designed by Frederick Law Olmstead, who also designed Central Park. 

It began operating as an inn in 1927 and houses 48 rooms, a restaurant, a tavern, an outdoor dining area, gazebo, pool, and patio. 

Bobby Crash May 28, 2014 at 03:31 PM
What's the deal?
Michael Casteel May 29, 2014 at 11:34 AM
Finizio declares the Inn will be auctioned with a minimum bid of $500,000. Then he declares the only bid was $100K and he plans to accept it? WTF? I suspect there would have been plenty of other bidders if it was known that any bid might be accepted. I can't believe it would be legal to accept that bid. Acri is a shyster whose prior effort to buy the Inn fell through because he was unable to get financing. He bid in that instance without financing in place and eventually got his non-refundable deposit back by whining about the theft of a few hundred dollars worth of junk. The City can be rid of him by demanding that he post a bond for the expected minimum renovation costs of several million dollars before closing on the sale. Have the good folks of New London learned nothing from the failures of the NLDC, Ocean Quest, Joe Gentile, the Capital Theater and the rest of the parade of "developers" with big talk and empty pockets? The fact is that the Lighthouse Inn as currently situated is not economically viable. The Annex is condemned and not salvageable. The only plan that would make sense to me is to renovate the Inn, bulldoze the Annex and build a modern facility with 50-60 rooms and a spa. However that would cost at least five million dollars. And result in an annual tax bill of around $200K. At the current assessment the tax bill would be $120K. Who is dumb enough to take that deal?
William Desmond May 29, 2014 at 12:32 PM
This mayor has no clue about anything. Not the law, not economic, not about right and wrong. The best pan for the city is to bulldoze the property and sell the land as approved building lots. That puts money on the tax rolls and makes the property viable again. It will never be the Lighthouse my grandparents were married in. Get past it, move on. Sell it for $100K means more law suits from anyone that can say I would have bid less but the minimum bid was $500K I was following the rules so I lose out. Another action by Finizio that will result in a big law suits or a class action lawsuit against New London for not following the stated bid process by any group that decides that they each would have bid $100k of more but not $500K


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