Crystal Lake golf course sold at auctionThe Eagle-Tribune, North Andover, Mass. — Peter Francis The Eagle-Tribune, North Andover, Mass.
Jan. 11--HAVERHILL -- Crystal Lake Golf Course has a new owner.
The 18-hole, 137-acre North Broadway course was sold at a bank-ordered auction for $960,000 Thursday morning to Sterling Golf Management Inc., a Newton-based company which manages eight other courses in Massachusetts and one in New Hampshire.
The auction was held on the grounds of the course, which has been the epicenter of a lawsuit between the city of Haverhill and the course's previous owner, Michael Maroney.
Kevin Osgood, Sterling Golf's president, was on hand to bid for the course, which auctioneer Paul McInnis said after the auction was valued at around $1 million. The entire auction lasted for roughly 15 minutes and the bidding for the course started with Osgood making an initial offer of $600,000.
Osgood was one of only two individuals bidding on the property and the course's equipment, which his company also purchased for $100,000.
McInnis said that, of the roughly 50 people on hand to witness the auction, only eight had filed the necessary paperwork to bid for the course.
Those in attendance Thursday included longtime Crystal Lake members and residents of some of the homes on the property.
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