Tranzon Auction Properties and Re/Max By The Bay team up to sell iconic Long Island waterfront property
18 Mar, 2021 - Tranzon Auction Properties
READ MAINEBIZ COVERAGE ON THIS AUCTION
PORTLAND, ME, March 18, 2021 – Iconic Long Island, Maine waterfront property headed to auction in May.
Teaming up for the second time in a year, Tranzon Auction Properties and Re/Max By the Bay are pleased to be bringing the iconic Long Island property to market. On the heels of a very successful Yarmouth waterfront sale in the spring of 2020 these two award winning teams are bringing their skills to bear once again on this once-in-a-lifetime purchase opportunity.
Strategically located on Long Island’s southwestern shore, the sale includes three parcels with 5.36+/- acres of upland and 5.91+/- acres of submerged land with waterfront infrastructure existing.
Boasting breathtaking daytime views and stunning sunsets, this property is comprised of three contiguous tax lots on the western end of Long Island. The waterfront lot features approximately 2.35+/- acres with 750' shore frontage, a 110' wharf on pilings, and a 435' stone breakwater. Set on 3.01+/- acres, the upland lot offers sweeping views of Casco Bay with an 11,000+/- SF, 2 story building formerly used as navy barracks. The submerged land lot, called 'the small boat pool' by the Navy, is approximately 5.91+/- acres between the breakwater and the shoreline and provides ample opportunity to further develop the existing wharf as well as potential uses for a marina, aquaculture site or other development.
Just minutes from the public ferry and water taxi dock, this spectacular property is graced with the beauty and serenity of island life while being a short boat ride from the lively Portland waterfront. Long Island, like many other Casco Bay Islands, is serviced by the Casco Bay Lines Ferry System with regular year-round passage to and from downtown Portland.
“We have known and worked with the Team at Tranzon Auction Properties for many years. It’s such a value for our clients to be able to provide the auction selling process as a resource.” Says David Banks, owner at Re/Max By the Bay. “This property is such an incredible opportunity. We’ve been marketing it for about a year and have had some great conversations with interested parties. It’s possible it comes together pre-auction and that’s an option if a buyer doesn’t want to wait for the auction. At the same time, it’s important to our client, the seller, and the Long Island community as a whole that this premiere property gets sold and the auction will ensure that happens.”
“Real Estate auctions shine for properties like this – iconic, unique and hard to value – we’ll be promoting this property throughout the country. It’s a great opportunity for real estate developers, marine related businesses, marina developer and other investors. It’s the classic example of “they’re not making more of it” and therefore it’s a valuable asset.” says Tom Saturley, Tranzon Auction Properties President.
“The auction will take place via online bidding at tranzon.com starting late April and concluding on May 6. I’m really looking forward to introducing this property to prospective purchasers. I get the opportunity to see and sell incredible properties, and this one certainly is on the top of the list for coolness and opportunity,” says Mike Carey, Tranzon Auction Properties SVP of Sales and Designated broker.
Tranzon Auction Properties is a member company of Tranzon, LLC. Tranzon is one of the largest real estate auction companies in the country, with 30 offices coast-to-coast. Tranzon’s accomplished auction professionals are widely recognized as leaders in the auction industry. All Tranzon companies are independently owned and operated.