Despite Dispute, Paperboard Land Listed for $2 Million

View of the Merrimack River from the former Haverhill Paperboard site.

View of the Merrimack River from the former Haverhill Paperboard site.

Despite ongoing legal actions between two would-be developers of the former Haverhill paperboard property, the land is listed for sale for $2 million.

Pentucket LLC, which purchased the property for $1 at the end of 2011, is resisting claims on the property by Fort Point Development LLC.

Brian Wilson of Salem, Mass., has listed “23 Acres of riverfront land along the Merrimack River” for sale along with an adjacent 35 acres. Wilson heads up Pentucket LLC, a unit of Barrow Development of Boston.

Earlier this year, Fort Point won an appeal in Superior Court to pursue its claims. Its action was originally denied by Superior Court Judge Paul E. Troy who has since retired. Meanwhile, Barrow Development is proposing a solar power farm and public park at the site. It is also talking up its capabilities by being named developer of the former Ford automotive assembly plant in Wixom, Mich.

Fort Point attorney Jason A. Manekas said Monday morning, "The parties entered into a purchase and sale agreement for the entire waterfront parcel and the buyer is suing to enforce that contract. The buyer is confident that the court will require the seller to fulfill its contractual and regulatory obligations. The buyer intends to develop the site for residential use including donation of a waterfront park with public access."

Wilson said Sunday Fort Point expressed interest in building housing at the paperboard site, but also claims it deserves a lower purchase price because of potential pollution at the site. “Environmental liabilities and residential dwellings are not complimentary,” Wilson says.

Fort Point is associated with Stuart W. Pratt of NAI Hunneman real estate, Boston.

 

Map featured on commercial real estate websites show the location of the former Haverhill Paperboard property.

Map featured on commercial real estate websites shows the location of the former Haverhill Paperboard property.