Local Ocean property sold back to original owner for $3M - Columbia-Greene Media: News

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Local Ocean property sold back to original owner for $3M

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Posted: Tuesday, August 20, 2013 4:13 pm | Updated: 11:24 pm, Wed Aug 21, 2013.

GREENPORT — The property of Local Ocean on Route 9 in Greenport was sold at auction this morning on the front steps of the temporary courthouse in Claverack to the man holding the mortgage, Michael Spielman.

Spielman, who sold the property originally to Local Ocean for $3 million but kept the mortgage, bought back the property from himself, for $3 million.

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