GREENE – Greene’s historic Sherwood Inn was auctioned off to the highest bidder on the steps of the Chenango County Courthouse Tuesday for $350,000.

The one and only bidder for the landmark property was the National Bank of Delaware County in Walton, the lending institution which commenced the foreclosure proceedings almost a year ago.

Richard Bryden, the bank’s senior vice president, explained that the bid was placed in order “to protect [the bank’s] interest in the property.”

Interested parties still have a chance to purchase the bid, and therefor the property, for as little as $1 over the accepted bid of $350,000. While this amount will cover back taxes on the premises, said Bryden, it is still well below the property’s assessed value of over $400,000.