"As patrons streamed into the Medford Bertucci's for warm rolls and brick-oven pizza on Tuesday, a small crowd gathered just steps away in the parking lot. While one of the chain's few remaining restaurants hummed inside, about two dozen people waited outside to see who would claim the land it sits on."
"The bidding opened at $6 million, but within minutes, the final price slid to $5.5 million. The 1.42-acre property, which includes the still-open Bertucci's in a 1940 building off the busy Mystic Valley Parkway, was most recently assessed at $4,058,900. Assessing records show it last sold in April 2023 for $8.25 million."
"When asked if the new owners will keep the Bertucci's, one of the brothers, who declined to give his name, smiled, saying, "For sure, yeah." "Bertucci's has great food," he added. "I love the bread ... the pizza, too.""
A foreclosure auction sold a 1.42-acre parcel on Mystic Valley Parkway, including an operating Bertucci's restaurant, for $5.5 million after bidding opened at $6 million. The property was most recently assessed at $4,058,900 and had sold in April 2023 for $8.25 million. The winning bidder was New York Capital Investment Group, represented by three brothers who manage Prestige Car Wash & Gas locations. The auction was conducted by Paul E. Saperstein Co. on behalf of mortgage holder Avidia Bank. A previously approved $200 million, eight-story life sciences development failed to be built, precipitating foreclosure.
Read at Boston.com
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