Rhode Island’s Wharf Tavern Up for Bid
January 21, 2011
EastBayRI.com reports that the Wharf Tavern, the venerable waterfront restaurant on the Warren River in Warren, Rhode Island, has gone to auction after the current owners, Nusan Realty, LLC, ran into financial problems.
A trust that owned the Wharf Tavern restaurant before selling it five years ago has retained ownership of the property, and could turn it over again.
Members of the David Brayton Jr. Living Trust held a foreclosure auction at the 215 Water St. property early last week, seeking new owners after the mortgagee, Nusan Realty LLC, ran into financial difficulties. Though trust representative Steve Croteau of Uxbridge, Mass., declined to comment on the outcome of the auction, word is that there were no successful bids, and the trust retained title to the property. The asking price was reportedly $1.5 million, slightly more than the land and building are valued by the town tax assessor’s office.
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