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Monday, November 24, 2014
Amsterdam, NY ,
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Amsterdam hotel auctioned off

Saturday, May 04, 2013 - Updated: 3:30 PM

By REBECCA WEBSTER

Recorder News Staff

FONDA -- On Friday morning, 10 Market St., better known as the Best Value Inn in the city of Amsterdam was auctioned off at the Montgomery County Municipal Building.

However, even though a handful of individuals showed up to watch the auction, only one representative showed up to bid: a representative bidding on behalf of DAWN-G, LLC., the original company who brought the foreclosure action against Royal Group of Holdings, Inc., et al.

According to a judgment of foreclosure and sale dated February 2013, the property was ordered to be sold at public auctions and stated later that the plaintiff (Dawn-G, LLC.) could become the purchaser of the property.

Angela Roy, a representative of Advantage Legal, at the auction representing DAWN-G, LLC placed a $400,000 bid Friday.

With no other bids, the auction ended.

Frank Tedeschi, referee for the auction, said Friday that Dawn-G, LLC., is the party who foreclosed on the 10 Market St. property.

"Since there was a successful bidder, at this point they own the property. Well, the deed hasn't been signed yet, but in 30 days when the deed has been signed or unless they assign it, they're going to own the property," he said.

     

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