Norwood Cinema Sold for $35,000 at Public Auction to Foreclosing New York Firm
The Norwood Cinema on Central Street was sold at public auction this morning at the site for a bid of $35,000 plus takeover of the first mortgage which is approximately $97,000. The successful bidder was the Seneca Leasing Corp. of Rochester, N.Y., holder of the second mortgage. The corporation had foreclosed, forcing the auction. Ralph Horton, president of Seneca Leasing, said there is considerable interest in the building which includes, besides the theater, a boutique and barbershop. The building, on a 12,300 – square – foot lot in a prime location near the town’s central shopping district may be converted to an office building, a 3 – department store or continue operation as a theater. Mr Horton said he expects to resolve the future of the building within two or three weeks. Bidding started at $10,000 and reached $35,000 in $5,000 jumps. Only one other party bid against Seneca.
By securing the bid, the leasing corporation protected its interest in the property and as the new owner can sell or lease it, according to David Yarosh of Boston, counsel for Seneca. There were several interested onlookers, including Edmund Mulvehill, son of former Norwood selectmen. Mr Mulvehill said he attended the first performance at the theater in 1926 when he was a child. Though he couldn’t remember the name of the film he recalled that it starred Lon Chaney and Gilda Gray.
Archival Note: This article has been dynamically reconstructed from the original public record print archives of the Patriot Ledger
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