Plymouth, NH – New Hampshire’s dormant Tenney Mountain ski area in Plymouth was sold at auction Wednesday to a single bidder.nMitchell Kulick, of Scarsdale, N.Y., bought the ski area and two additional land parcels for a total of $850,000. The ski area itself sold for a mere $500,000. Kulick is an attorney for Iroquois Capital Management LLC that earlier invested money in Tenney Mountain. Even though 50 people were present at the auction, no one other than Kulick entered a bid.

Current and previous owners of Tenney Mountain have defaulted on loans and racked up a back tax debt of $110,000 to the towns of Plymouth and Groton, within which the ski area’s summit sits. The mountain was sold by Frank Nocito, president of St. John’s Realty in New York. Nocito last leased the mountain to Kirk Nassetta of White Mountain Exploration to operate the ski area.

Kulick’s purchase was intended to cut Iroquois’ losses on the property. Even though he was the only bidder, Kulick indicated that his principal’s plan is to sell the mountain to another operator who will hopefully continue to operate the ski area.