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October 26, 2021

Shuttered Cromwell hotel sells for $2.55M

Photo | CoStar The former Red Lion Inn at 100 Berlin Road in Cromwell.
By Terry Corcoran

The former Red Lion Inn in Cromwell that abruptly closed last year recently sold for $2.55 million, records show.

M360 Berlin Land Holdings LLC of Ladera Ranch, Ca., bought the property at 100 Berlin Road from 100 Berlin Land LLC, whose principal is Joseph Gillespie of Ormond Beach, Fl. It’s not clear who controls M360 Berlin Land Holdings LLC; the company is registered in Delaware. 

The $2.55 million sale price is a far cry from the $6.72 million that 100 Berlin Land paid for the property, including 9 acres, in July 2017.

100 Berlin Land LLC was one of several entities related to Gillespie that declared bankruptcy in July 2019. State tax regulators abruptly shut the hotel six months later in January 2020, suspending its sales and use tax permit and suspending any sales. Fifty workers lost their jobs. At the time, the state said the hotel owed more than $200,000 in outstanding taxes and fees.

The three-story hotel was built in 1968 and renovated in 2005. It has 263,000 square feet and 215 rooms.

Messages were left with town officials to determine if any plans have been submitted for the property.

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