Sheepscot Harbor Village and Resort in Edgecomb sold to the Savings Bank of Maine on Jan. 29 for $7.5 million during a second public auction held to correct a filing with the Lincoln County Registry of Deeds.
According to attorney Jacob Manheimer of Portland law firm Pierce Atwood, who managed the sale and represents the bank, the first auction was invalidated because it was not filed with the Registry of Deeds in a timely manner.
As mentioned at the first auction held on Dec. 28, Priority Group, LLC, the court-appointed receiver, will manage the property and then sell it for the bank. James Howard, Priority Group president and CEO said at that time his company would likely sell the property in individual parcels, but would also offer the property in its entirety.
Howard said the resort and grounds formerly owned by Roger Bintliff of Edgecomb Development, LLC include nine condominium units, an inn, a restaurant, commercial property including the Chef’s Kitchen, a lobster shack and 16 acres of undeveloped land, the pier, and pool house. Some of this property is included in a Tax Increment Financing (TIF) district, while certain parcels are not, including a number of cabins referred to by town selectmen as the “Jim Hall properties.” The sale also included the development rights to 11 empty lots on the resort project.
