APRIL 8, 2010 ISSUE
Green Park Inn Sold, To Undergo Renovations and Reopen
Eugene Irace from Long Island, N.Y. bought the Green Park Inn for $935,000 last Wednesday, March 31. Photo by Lonnie WebsterLast Wednesday, March 31, the historic Green Park Inn, located at 9239 Valley Boulevard in Blowing Rock, sold for $935,000 cash at a live auction, and the deal will close shortly, said Bracky Rogers, sales manager, auctioneer and founder of Rogers Realty.
Eugene Irace from Long Island, N.Y. bought the property, Rogers said.
“He’s starting to work on it as soon as he can, and it will be open within three to four months,” Rogers said.
“Everyone seemed pleased to see [the inn] saved, and I am too. I’d hate to see that torn down,” he said.
Irace owns properties up and down the East Coast and “is interested in properties like that to restore,” Rogers said, adding that he liked the area.
The Green Park Inn originally went on the auction block July 30, 2009.
After the first auction, the bid was rejected—it was not enough because of the high mortgage—and at the “second go-round, it foreclosed,” Rogers said.
As High Country Press reported last July, auctioneers originally tried to start the bidding for the inn at $5 million.
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