Spicer Mansion goes for less than $3.1 million in second auction

Source: The Day — 

Mystic ― A Guilford-based entity holding mortgages on Spicer Mansion signed a contract Saturday to buy the hotel for $3,050,000 after submitting the winning bid in a public foreclosure sale.

MMP Holdings LLC outbid Walter “Sonny” Glaser Jr., the Steamboat Inn owner, and Tim Owens, an Avon chiropractor who owns property in Stonington and Watch Hill.

About two dozen people watched as attorney Aimee Siefert conducted the bidding across the street from Spicer Mansion.

Both Glaser and Owens also had placed bids during a March auction of the boutique hotel, whose current owner, Gates Realty Holdings, continues to operate it. The winning bidder in the earlier auction, Ross Weingarten, a business partner of Gates Realty principal Brian Gates, failed to close on the purchase, leading to Saturday’s do-over.