A piece of Southborough history hits the auction block tomorrow at 1:00 pm.
The Garfield House and its 4.67 acres of waterfront property was last assessed by the town at just under $1.7M. In addition to the main house and carriage house, there is also a separate buildable lot on the property.
According to a statement on the Oak Realty website, the Garfield family decided to auction the home in hopes of a quick sale. “Part of their reasoning includes the enormous amount of holding costs to maintain the property (i.e., real estate taxes, insurance, maintenance, the cost of money and settlement for the Estate, etc.),” the statement read.
There’s been no shortage of speculation in town about who might want to purchase the property. Some suggest Fay School given its proximity to the property. Others say St. Mark’s since the stone house was built by Joseph Burnett who founded St. Mark’s School. Still others think it will be a developer.
With the auction date looming, we’ll know soon enough if any of those guesses are right. You can find out more about the property and auction on the Oak Realty website.
