Esperanza Mansion, the hotel, restaurant, and wedding venue overlooking Keuka Lake that closed its doors in 2016, was offered at public auction Wednesday morning, March 7. Despite a crowd of about 40 in the vestibule of the Yates County Courthouse, no bidders came forward.
Before opening the auction, Peter Baker Esq., the Referee in the Judgment of Foreclosure and Sale dated Jan. 23, 2018, read reams of legal language regarding the terms of sale, including the premises are sold subject to “an accurate survey... zoning restrictions and any amendments thereto, covenants, restrictions, agreements, reservations, and easements of record and prior liens, if any, municipal departmental violations, and such other provisions as may be set forth in the Complaint and Judgment filed in this action.”
In April 2017, Genesee Regional Bank in Rochester filed the foreclosure on Esperanza against owner David Wegman, claiming over $2.86 million. The final judgment amount of the foreclosure was $1,590,380.40 plus costs, disbursements, attorney fees and additional allowance, all with legal interest.
Before the bidding opened, Alison Blaine, of Lacy Katzen LLP, representing Genesee Regional Bank, stated the reserve the bank placed on the property was $1,725,541.90, and they would accept a minimum bid of $1 over that amount. Ten percent of the total amount was required that day for the bid to be accepted.
With no bidders coming forth, the bank’s attorneys bid $100, legally taking ownership of Esperanza. No word has yet been received of what plans Genesee Regional Bank has for the landmark building.