The Mountain Times

°F Sat, April 19, 2014

Central Vermont's Most Popular Weekly Newspaper

The Mountain View Lodge sold at auction for $595,000

MENDON-The Mountain View Lodge in Mendon sold at auction for $595,000 last Tuesday, Sept. 18. The large property includes an 86 seat restaurant, 40 rooms, and over 28,000 square feet. On Route 4, it occupies 7.4 acres across from the Cortina Inn.

The final selling price was well below the $1.26 million assessed value. The winning bidder was Recreation Properties LLC of Ridegwood, NJ. Although the company has experience in the ski industry, this acquisition is their first in the Killington area.

About 25 people gathered in the lobby of the hotel to participate in the auction but the bidding was relatively slow to get going. The auctioneer, from Tranzon Auction Properties, started the bidding at $500,000 but had to settle for $250,000 to get it going. Amongst the crowd, only three parties offered bids to get the final price up to the final $595,000.

The Mountain View Lodge joins other similar properties that have recently been auctioned off. The Holiday Inn in Rutland, The Kokopelli Inn, The Vermont Inn and Bill's Country Store all recently auctioned for much less than their assessed values.