The former Tuscany Inn in Edgartown sold for $2.7 million yesterday in a foreclosure auction at the historic property on North Water street.
An Island resident reportedly has bought the former inn, which currently houses l’etoile restaurant. The name of the new owner has not been disclosed. Michael Brisson, owner of l’etoile, said he does not expect the sale to affect his business. “For the foreseeable future l’etoile’s lease is secure and I look forward to working with the new owners,” Mr. Brisson said.
The auction was handled by Flynn/Boston Realty Advisors. Chief auctioneer Dan Flynn called the sale an example of a distinctive property that may not sell otherwise in this climate. He expects more high-profile auctions through the summer, according to a statement.
The property is a three-story, eight-bedroom, eight-bathroom house of about 5,500 square feet with water views.