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Strand in Dover to be auctioned off
posted by
CSWalczak
on
November 6, 2009 at 7:45 am
DOVER, NH — The Strand triplex will be on the auction block on November 19. Built in 1919, the theater was operated by the Spinelli circuit which recently shut down all of its theaters.
Assessed at $705,300, the theater is one of two properties on a 2005 mortgage held by Rose Realty LLC in Madbury. The other property is located off Route 11 in Rochester — where Spinelli had plans for a theater in 2006 — and was the subject of a $150,000 foreclosure deed this past summer. The mortgage was in the amount of $429,500.
Spinelli has encountered other financial challenges, including lawsuits for back rent at his Barrington theater and unpaid rent at the defunct Somersworth location.
More information at Fosters.com.
