Petoskey's most famous hole in the ground has a new, mysterious buyer.
A southeast Michigan attorney says his client has bought Petoskey Pointe from PNC Bank for an undisclosed amount. Jim Adams won't say what the buyer intends to do with the property.
Likewise, he says it's too early to give specifics on the buyer, which calls itself Lake Street Petoskey Holdings LLC.
Adams does say the group has no relationship to the previous owner, which lost the property to the bank earlier this year. The buyer is not affiliated with PNC, Adams says, though he would not say whether another bank might be involved.
Petoskey Pointe has been stalled downtown for years.