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Ten Converse Place is for sale, with a public auction scheduled for Tuesday, July 15.
The property is described as a 25,901+ square foot lot improved by a 15,200+ square foot four-story office building “believed to have a 11,263+ square foot rental area with 30 parking spaces” in a notice from attorney Mary Krumsiek of Perry Krumsiek, representing the mortgagee.
The Terms of Sale include a $100,000 initial deposit and an additional deposit equal to 5% of the bid price.
The sale is not a town matter, but the property and proposed developments have been the subject of numerous reviews by town authorities.
In May, the Planning Board classified changes in size for a new proposed project by developer Paul Ognibene to an original plan approved in 2022 as “significant” and withheld its approval. The 2022 plan was submitted by developer Ian Gullespie, but he withdrew his involvement when the project became economically unviable.
Ognibene stepped in, but never owned the property. It is believed he was trying to buy it and, if so, was unable to come to terms with the bank which foreclosed on Gullespie or some other owner. Theoretically, he could bid on and buy it.
Regardless, he or any other owner would still have to deal with the various issues raised by town authorities, not the least of which is the proposed new building’s proximity to adjacent wetlands, specifically Mill Pond.
“It ran afoul of the state Wetlands Protection Act and town wetlands bylaws,” Conservation Commission Chair David Miller said. “Anyone looking at a new project will still face those restrictions.”
