Web exclusive, November 28, 2018
Former PNH building under contract
Buyer not named, will close in 30 days
Celebrating 30 years in business in 2000, former Penobscot Nursing Home founder Jeannette Dennison and son Wendell Dennison (now both deceased) marked the occasion with a photo. The building is now under contact with an expected closing date of December 27, ending a decades-long battle over the property.
by Faith DeAmbrose
After an online real estate sale that gave would-be buyers a week to place their bids, the former Penobscot Nursing Home building is under contract and is expected to close December 27.
The building’s current owner, Christie Hayward, representing the company Betlins, said that while she did not receive the minimum bid that had been set, she ultimately accepted an offer.
An open house before the sale drew a number of parties, she said, but only one bid was received. An initial offer from the buyer was rejected, but the real estate broker worked to bring the parties to agreement, she added.
Hayward said she does not know what the buyer’s future plans are for the three-acre property.
Betlins, a company created by former PNH owner Wendell Dennison, held the mortgage for the building separate from a 2006 sale of the business. Few payments were received and in June a foreclosure proceeding gave the building back to Betlins.
The company has been paying the property taxes on the building since 2007, which, while the nursing home was open, were roughly $24,000 a year, in order to keep it from being foreclosed on by the town.
Before heading into the sale, Hayward said the company would likely “never get what we are owed” and while she now knows that is the case, she said she will be happy to see another use for the property.