There was an auction in Kingston, and Joe Deegan, knowing a commercial property on Broadway was on the block, decided to attend. And having gone, Deegan couldn’t resist bidding. There was only one competitor for the property, and to his surprise Deegan ended up the high bidder at $160,000.
What would he tell his business partner, Bob Ryan, who was in Cape Cod at the time of the auction? The two had discussed how much this large building in midtown Kingston that hadn’t been properly maintained for decades would need in terms of additional investment. They had decided $150,000 should be their upper limit at the auction.
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