WEST BRATTLEBORO — A brighter future could be coming to the foreclosed, dilapidated building formerly home to the Mattress Outlet on Marlboro Road.
At $80,000, Dan Systo of Brattleboro had the winning bid at Thursday’s auction. He said he represented a local private investor.
“There’s definitely an idea, for sure,” he said. “It’s just whether it makes sense or not. My guess is it will.”
The one story, approximately 7,519-square-foot building belonging to Harry Foster of Greenfield, Mass., was never reoccupied after Tropical Storm Irene in 2011. Brattleboro Zoning Administrator Brian Bannon recalled the business closing sometime around 2010.
Bannon said the basement flooded in Irene and the power was turned off.
“The building wasn’t pumped out immediately and there are mold issues,” he said.
Systo anticipates action on the property in the not-too-distant future. He was representing the same party who purchased the Outlet Center near Exit 1 on Canal Street at auction in January.
Town records show BMFN LLC conveyed ownership of the Outlet Center and several other properties to Vermont RE Development LLC in September. According to a filing with the Vermont Secretary of State’s Office, Vermont RE Development is based in Guilford and member managed, with Pavel Belogour listed as a principal.
Belogour founded Boston Merchant Management Services — later known as Boston Merchant Financial Services — in 1988. He owns an 800-acre maple operation called Viking Farms in Guilford.
Systo described “big renovations” and a “big facelift” on the Outlet Center including new roofing, restrooms, lighting and painting. The parking lot also is set to be repaved.
Tenants such as Carter’s Childrenwear, Northeast Mountain Footwear Hanes still remain housed in the building.
And efforts are underway to find more.
“There’s still a lot of open space,” Systo said.
He owns Walker & Company Roofing and Construction LLC in Brattleboro.
The only other bidder at Thursday’s auction declined to provide his name to the Reformer.
The bidding began at $10,000, which is the same figure required as a down payment for the winner.
After about two minutes of bidding, Systo offered $80,000. Auctioneer Mike Carey, of Tranzon Auction Properties, paused the auction.
“I have to make a phone call,” he said, coming back to let bidders know TD Bank was “ready to release it.”
After the break, the other bidder declined to put in a counteroffer.
The new owner will need to pay nearly $5,000 in outstanding taxes and about $338 in outstanding water and sewer fees.
In a property summary, Tranzon said work needed to repair the building requires compliance with regulations for the special flood hazard area.
“The Town has indicated their desire to assist a buyer with finding FEMA hazard mitigation grants that may be available to assist with bringing the prope rty into hazard regulation conformance,” the auction company said.