Neighbors of the deteriorating General Wayne Inn have purchased the foreclosed property from creditors with plans to demolish the building and preserve the land as open space, according to Southold Town Supervisor Scott Russell.
Mr. Russell confirmed Tuesday that the new owners, whose names have not yet been made public, closed on the property last week. He added that the couple is eager to comply with the town and tear down the dilapidated structure.
“They live near the General Wayne and have a vested interested in keeping the property pristine,” Mr. Russell said.
As neighbors of the property, the new owners plan to clean up the site of the once popular inn, which dates back to the late 1700s and has fallen into extreme disrepair following years of neglect, Mr. Russell said.
Mr. Russell said the owners are considering turning the three-acre property into a “passive park.”
The closing comes a little more than a month after the mortgage holder, Liquidation Trustee Services, waived off multiple offers it deemed too low during a public auction on the steps of Town Hall.
Earlier this year, the Town Board declared the historic inn “unsafe and dangerous to the public in its current state.” The board said that following the auction, the new owner would have 30 days to respond with a plan of action to make the structure safe or face violations.