Another Foreclosure Auction in Concord

First, it was the Vegas Block Apartments. Then, it was The Racquet Club of Concord. Now, it’s a storefront condominium unit at 31 S. Main St. that is scheduled to be auctioned off on Aug. 11, according to a post Paul McInnis Inc. Real Estate Auctions.

The property, according to filings with the city of Concord and the Secretary of State’s Office, is one of seven independently owned units at the location. Unit 2, the one up for auction, is owned by an LLC controlled by Thomas Farley of Gilmanton, who runs a property management firm. Farley’s LLC purchased the unit from Angus and Christine Boezeman in 2005 for $300,000. The couple had owned the unit previously since the mid-1980s. 

It’s the third major property in the area to be put up for auction in recent months.

The Vegas Block Apartments was sold in late June for $975,000.

The Racquet Club of Concord was in the process of being sold to Michael Benton, the owner of the Executive Health and Sports Club in Manchester, who made plans to renovate the building. He bought the club’s mortgage last year and is now foreclosing on the current owners.

The storefront unit on South Main Street has a Main Street door entrance but is set back from the front of the building. It features more than 1,900 square feet of retail space. Previously, it was listed online for sale, but was taken off the market about four months ago, according to LoopNet.com. It’s assessed at $226,100, with a replacement cost of $338,827, according to the city’s online assessment database.

Anyone interested in participating in the auction must have $5,000 cash deposit at the time of the auction with the balance due within 45 days of the sale.

The auction will be held at 11 a.m. on Aug. 11.