CAZENOVIA — On Nov. 15, 2022, Cazenovia’s historic Lincklaen House at 79 Albany St., was put up for sale via an online auction. Two days later, the auction concluded without producing a suitable buyer.
The property includes a 23-room colonial-style boutique hotel, an event space, and three restaurants — the “casual fine dining” Lincklaen House, the Seven Stone Steps tavern, and Due Passi Pizzeria.
The auction was conducted by Todd Wenzel of WYZE Commercial Real Estate in conjunction with the Ten-X online commercial real estate exchange. The starting bid was $700,000.
According to Dan Kuper, who owns the business with his wife, Mary Margaret, the bidding reached $2.3 million before the auction ended.
“That price included 79-83 Albany St. and the two parking lots with all furniture, fixtures, and equipment, so basically [a] turnkey business,” said Kuper. “. . .We were concerned about the bidder being a good fit for the community and meeting the reserve.”
A reserve price is a minimum amount that a seller will accept as the winning bid. In an auction, the seller is not typically required to disclose the reserve price to potential buyers. If the reserve is not met, the seller is not required to sell, even to the highest bidder.
Leading up to the auction, Kuper explained that his focus was on uncovering the business’s next owner/operator and making sure there would be no interruption in business at any point. He also said there was no guarantee that he would find a buyer through the process.
For now, the Lincklaen House will continue operating under its current ownership.
“Business will go on as usual, and we are looking forward to a very busy holiday season,” said Kuper. “So, if you haven’t booked your event yet, do it soon as we are running out of availability.”
The Lincklaen House was built in 1835 and named after John Lincklaen, an agent of the Holland Land Company and the founder of Cazenovia.
According to its website, the Lincklaen House opened its doors in 1836 and became a notable stagecoach stop along Route 20.
Among the establishment’s most famous guests are President Grover Cleveland and John D. Rockefeller.
Following a disastrous fire in 1916, Henry Burden renovated the building.
“[Burden] remodeled the hotel using finely carved woodwork and moldings, still visible today among the high ceilings and painted wood panels,” the Lincklaen House website states. “Each of the 23 guest rooms is unique, and retains its 19th-century charm. The locally made brick, fine chimneys, and broad front steps are wonderful representations of a storied past.”
The property was purchased in 1956 by Edward and Helen Tobin, who added modern amenities and ran the business until 1997 when it was purchased by Kuper and his partner Charles Morgan.
To learn more about the Lincklaen House, visit lincklaenhouse.com.
