Cambridge Hotel sold at auction for nearly $300,000
Posted at: 06/15/2012 11:57 AM
| Updated at: 06/15/2012 1:48 PM
By: Mark Mullholland
A Washington County landmark was sold at a foreclosure auction this morning.
The historic Cambridge Hotel fell into foreclosure after the Imhof family pumped more than $1 million into it but couldn't turn a profit.
Glens Falls National Bank was the lone bidder on the hotel today and will pay $299,000 for it.
The current owners plan to have a customer appreciation closing party on Sunday.
It's not known what the bank will do with the property.