Business

Buyer Has Yet To Step Forward For Historic Connecticut Lighthouse

Lighthouse Will Reportedly Sell For Less Than $50,000
(credit: Scott Halleran/Getty Images)

(credit: Scott Halleran/Getty Images)

FAIRFIELD, Conn. (AP) — A 139-year-old lighthouse in Long Island Sound is for sale, but a buyer has yet to step forward.

The Penfield Reef Lighthouse is one of three in Connecticut that the federal government wants to sell. It was saved from destruction by local members of Congress in 1971 and has been on the market since 2007.

The Connecticut Post reports that the lighthouse will likely sell for less than $50,000, but will require about $500,000 in renovation.

Fairfield First Selectman Michael Tetreau says restrictions on renovations make financing difficult. He says the town would have to spend $450,000 to fix it up the way federal officials want. And he says it’s the lighthouse is inaccessible and is vulnerable to storms.

The town of Fairfield has refused to buy it.

(Copyright 2013 by The Associated Press. All Rights Reserved.)

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