April 23, 2018
Business Latest News | Poll Questions | Waffle House Hero | Royal Baby | Stoned Pets

Sales of Ferraiolo properties in Knox County completed

By Stephen Betts, BDN Staff

ROCKLAND, Maine — Sales of multiple properties formerly owned by the Ferraiolo Construction Co. throughout Knox County have become final.

The properties were auctioned off en masse on June 15 as part of the construction company’s plan to reorganize under the guidance of the U.S. Bankruptcy Court.

Anthony Casella, who developed the 48-unit Village at Rockport, purchased an adjacent 11 acres on Route 1 that had been owned by Vincent and Filomena Ferraiolo and was part of the reorganizational plan. The sale was completed on June 25 and filed in the Knox County Registry of Deeds on July 5.

Casella said he has no plans to develop the property and that he purchased the 11 acres to protect the residential neighborhood he created over the past three years.

The Village at Rockport developer said he was aware of two other potential bidders for the property — one wanted to clear the land and erect storage units and the other wanted to create a small children’s amusement park.

Casella also bought a fifth of an acre lot at 261 Pleasant St. in Rockland where the construction company’s small office had been located. He said he had no immediate plans for that property either.

In Camden, Michael Remsen bought 16 acres on Thomas Street that had been owned by the Ferraiolos. The property had previously been approved for a nine-lot residential subdivision but that approval had expired, according to Camden Planner Steve Wilson. He said any new proposal would have to meet new ordinances.

No plans have been filed. Remsen did not return a call for comment on Wednesday.

The O’Hara Corp. of Rockland purchased a 23,000-square-foot building and 6 acres owned by the Ferraiolos at 28-30 Gordon Drive in Rockland. That property had housed the main offices for the Ferraiolo company.

A call to Frank O’Hara Jr. on Wednesday was not immediately returned. No plans have been filed with the city. The O’Hara corporation operates a full service marina on the waterfront and operates office buildings in Rockland.

Sale prices have not been revealed, although last week, an auction company official said that the sales of all Ferraiolo properties up for auction netted more than $5 million. Those include properties in Waldo, Kennebec and Sagadahoc counties.

Other sales have not yet been filed in those county registries of deeds.

Have feedback? Want to know more? Send us ideas for follow-up stories.

You may also like