Real Estate
Historic Provincetown Hotel Goes To Auction: Report
The business of the hotel, which is more than 200 years old, goes on the auction block Monday.
CAPE COD, MA — A historic Provincetown hotel is on the auction block, according to the Boston Business Journal.
Pilgrim House, which dates to 1810, currently has four owners. Two of them are looking to sell a combined 45% stake in the hotel on Commercial Street, the publication said.
New York-based AuctionAdvisors is seeking qualified bids by the end of Monday. A live auction among qualified bidders who have made a $100,000 deposit is scheduled for Tuesday.
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Pilgrim House is known for its piano bar and drag brunches. Its owners bought the property in 2017, which was then known as the Sage Inn.
They've been fighting each other in court for over a year regarding claims of self-dealing and faulty tax filing.
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The auction is for the business, not the real estate, the BBJ noted.
To read the coverage, click here.
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