Latvian Ghost Town Auctioned Off for $3.1 Million

Breaking News

Latvia sold a deserted town built around a Soviet-era radar station to a Russian investor who bid $3.1 million at an unusual auction Friday, officials said.

The town formerly known as Skrunda-1 housed about 5,000 people during the Cold War but was abandoned over a decade ago after the Russian military withdrew from Latvia following the Soviet collapse.

A representative of a Russian investor won the bidding contest in Latvia's capital, Riga, with an offer of $3.1 million, said Anete Fridensteina-Bridina, a spokeswoman for the Baltic country's privatization agency. She said the buyer was Aleksejevskoje-Serviss, a Russia-based firm, though she could not provide details.

comments powered by Disqus