Griswold - A portion of the former Triangle Plastic Wire & Cable plant on East Main Street was sold at a foreclosure sale Saturday to the highest bidder: the New York City company that was the subject of the more than year-long foreclosure proceeding.

On Saturday, Working Realty Ltd. principal Josh Prottas was the highest, and possibly only, bidder on the 13.2-acre parcel at 235 E. Main St. that fronts Ashland Pond. Prottas submitted a bank check for $57,100, as required for the sale. The firm must pay the balance of the bid within 30 days of a judge approving the sale. The amount of the bid was not available Tuesday.

Prottas could not be reached to comment Tuesday.

A smaller section of the property - 2.3 acres located across the street at 226 E. Main St. - did not receive any bids. Because of this, the town inherits the property in lieu of recouping taxes through the sale. The property, which includes a vacant building, is already insured, First Selectman Philip Anthony Jr. said Saturday.

Working Realty bought the properties in June 2007 for $342,530 from a Providence-based firm. With that purchase, the New York City property management company inherited the tax debt from the previous owner. The deed recorded with the transaction required Working Realty to pay the tax debt to the town.

During 2006 and 2007 the town received grant money from state and federal environmental departments to determine the level of contamination on the former mill property. The third phase of the three-part study was to be done by Working Realty. The firm has until the end of the month to file a report to the state.

In December 2007, the tax collector, after speaking to the first selectman, initiated the foreclosure on the properties hoping to recoup roughly $254,365 in delinquent taxes. The company paid roughly $19,000 it owed on two small parcels along Balfour Street but the tax debt continued to accumulate on the two East Main Street properties. The town also sought reimbursement for all liens and fees associated with the foreclosure process.

Tuesday, Griswold Tax Collector Richard Grabowski said the balance of taxes owed on the 235 E. Main St. property as of Dec. 31 was $191,136.85, not including associated fees.

The balance owed by Working Realty on the smaller property at 226 E. Main St. prior to the foreclosure sale was $104,719, including the January installment recently due. Selectmen must decide what to do with the property. If they sell it they can ask for the taxes to be paid by the buyer.

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