GREENFIELD — The former National Guard Armory on Hope Street sold at auction Wednesday afternoon for a final sale price of $390,500.

“I asked for the assessed value ... and everyone laughed,” recounted auctioneer Justin Manning, president of JJManning Auctioneers of Yarmouth Port. The property was assessed at $1.2 million.

Manning declined to disclose the winning bidder for privacy reasons, noting the information will be a matter of public record in 60 days when a deal is closed. He did say, however, he believes the buyer was local.

The former armory at 67 Hope St. was one of two armories to be auctioned on Wednesday. The auction for both took place in Leominster at the DoubleTree by Hilton Hotel on Erdman Way.

After an unsuccessful attempt to start bidding at the assessed value, Manning started at $50,000. There were four competitive bidders.

“We sold the Greenfield armory first,” he said. “That took maybe 10 or 12 minutes.”

Although there was originally talk about the property — which is owned by the state’s Division of Capital Asset Management and Maintenance (DCAMM) — being turned over to the city, Community and Economic Development Director MJ Adams said city officials decided that between the former First National Bank and the Greenfield Public Library building, it wasn’t prudent to take on another property in need of redevelopment. She said a Request for Proposals (RFP) concerning the former bank will be issued later this year.

The armory is zoned in the Urban Residential District, according to its property record card. It was built in 1910 and is considered a historic property by the Massachusetts Historical Commission for its architecture and the impact it had in raising awareness for the role of the military.

The conversation about the armory’s future began last summer when the city received a notice from DCAMM that the property had been declared surplus by the National Guard. Most recently, the roughly 31,000-square-foot, three-story structure was used as a recruiting office.

At the time, Mayor Roxann Wedegartner’s plan — with the support of City Council — was to submit a proposal regarding the potential use of the building for a mixed-use retail-housing project. She had questions, however, as to whether that would fit the classification of “public use,” as required by DCAMM. The property ultimately remained under DCAMM’s control.

Manning explained that if the sale falls through with the winning bidder, DCAMM can either offer the property to the next highest bidder or send it back to auction.

“Having (surplus properties) active on the tax roll, having them improved … is what’s really of the utmost importance,” he said.

Reporter Mary Byrne can be reached at mbyrne@recorder.com or 413-930-4429. Twitter: @MaryEByrne.

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