News: Front Section
Posted: January 31, 2008
Flynn Auctions conducts auction in Springfield
Daniel Flynn & Co./Flynn Auctions of Quincy auctioned twenty-two properties in tax-title possession for the city. The auctions were conducted at the Springfield City Hall, 36 Court St.
The property auction portfolio was diverse; several single family homes, a residential condo, an auto repair shop, retail space and two large office condos. One of the highest bids was $195,000 for a 41,000 s/f industrial zoned property. Several single and multifamily homes were won with bids ranging from $12,000 to $40,000. Bidders also factor in a 5% buyers premium fee over their final bids.
City officials were pleased with the bidding total equaling $767,000 for the 22 properties. "The auction exceeded our goal of getting at least $500,000 for the properties," said city treasurer Salvatore Calvanese. Auctioneer Dan Flynn said, "People got some great deals, had fun and the city benefits with new owners paying taxes and taking care of the properties."
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