An Old Lyme property hosting a marina specializing in smaller boats and paddle sports has sold for $1.8 million to a Massachusetts real estate investor who intends to maintain the existing business.
In a deed recorded March 26, Shawn Summers, of Wilbraham, Massachusetts, acquired the 0.85-acre property at 132 Shore Road, which hosts Black Hall Marina. The property was sold by Jolly Roger Enterprises LLC, whose principal is Eugene Chmiel, of Clinton.
The property includes an approximately 3,800-square-foot building with a kayak and retail showroom in the basement and first floors, and a one-bedroom apartment on the third floor. A smaller boathouse near the docks is used for special events and summer camps.
The marina has three main docking areas with a total of 56 boat slips. The property is located on the Black Hall River near where it empties into the larger Connecticut River at the entrance to Long Island Sound.
In addition to the real estate, Chmiel sold the business for an undisclosed additional price. He also provided $1.29 million in seller financing, secured with a mortgage on the property.
Summers said he intends to continue operating Black Hall much in the way Chmiel has.
“We are not changing the structure of the business that Gene’s built,” Summers said. “We see his vision and we are going to run with that.”
Gino Penasa and Tim Bray, of Mystic-based Seaport Real Estate Services, represented the seller and procured the buyer.
“I think it was a good match for the previous owner,” Penasa said. “For the new owner, the support of the previous owner is going to be key.”
