The former Stinson Seafood Company was on the auction block Tuesday afternoon.
The three-and-a-half acre property is owned by Belfast Bay LLC investment group, which tried, but failed to turn it into a commercial residential marina complex.
Several potential buyers brought a letter of credit for one hundred thousand dollars, and the bidding started at 650-thousand dollars.
By 5 o’clock, the bid was up to 850-thousand dollars.
At that point the current owners and interested parties opted to close negotiations to the public.
City planner Wayne Marshall says he’s hopeful the property will once again thrive, and Belfast officials are willing to work with the new owners to make that happen.
":This is a site the city rezoned in 2004 and the idea with that rezoning was to allow multiple uses, multiple use with a very strong marine dependency.": Mr. Marshall told TV5 Tuesday.
The waterfront complex was built in 1911, and went through several owners before the Stinson’s bought the facility in the 1950′s.
The factory continued operating until 2001, and has remained vacant since then.