NAHANT — The town has announced that it will sell the 12 lots at the Coast Guard housing site it purchased from the federal government 20 years ago.
The town, which only has 1,400 residential lots in total, still owes $1.8 million on a loan it used to purchase the property, and plans to pay it off by selling the lots.
The lots will be sold through a formal procurement process, according to a press release from Town Administrator Tony Barletta. It said that in the coming months, lots will be sold each week to the best-qualifying bidder. In order to purchase the lots, buyers must offer the highest bid and have the ability to sign a purchase-and-sale agreement within seven days and secure financing within 14 days.
The six properties that are currently up for bid are located in the Bass Point area and near Johnson Elementary School and Kelley Greens Golf Course, with close proximity to open space and views of the Atlantic Ocean, the release stated.
All properties have town water and sewer utilities available for connection.
Barletta told The Item the sale of 12 lots by the town is “the first of its kind.”
“It’s unlikely that an opportunity like this will happen again in the future,” he said.
According to the Board of Selectmen, lots will only be sold under the following conditions: no individual, entity, or group can purchase more than one lot; no lot may be combined with any other lot; and the floor-area ratio of each lot is capped at 25%.
“There are so many reasons to live in Nahant,” Board of Selectmen Chair Josh Antrim, who grew up in town, said. “It’s a safe, small community, very friendly, warm, and welcoming. It’s a great place to raise a family. There is so much to do here if you love the outdoors. Plus, the views can’t be beat.”
Bids for the first six lots must be received by the Board of Selectmen’s office by no later than 3 p.m. on the date listed below:
- Lot 1, 294 Castle Road, Sept. 17, 2024
- Lot 3, 298 Castle Road, Sept. 24, 2024
- Lot 5, 114 Gardner Road, Oct. 1, 2024
- Lot 7, 2 Goddard Drive, Oct. 8, 2024
- Lot 9, 6 Goddard Drive, Oct. 15, 2024
- Lot 11, 1 Goddard Drive, Oct. 22, 2024
Bids will be opened at Town Hall at the specified time and will be reviewed to determine the best-qualifying bidder. This process is governed by state procurement laws because the properties are being sold by a municipality.
Each lot carries a minimum bid price that can be found in the procurement documents on the town’s website. An inquiry of purchase must be submitted before the procurement documents can be viewed.
Barletta said there are many reasons to live in Nahant.
“Nahant has one of the lowest tax rates in Essex County and has been investing in major capital upgrades recently to our coastal infrastructure and our water, sewer, and stormwater systems,” Barletta said. “The community is welcoming and friendly and it is a great place to live, no matter your age.”
Prospective buyers must fully follow the procedure as explained in the procurement documents at nahant.org/bids, where the bid documents can also be found.
Any questions should be submitted in writing to [email protected]
