Fire Island Fire Sale: You Can Now Buy the Commercial Strip for a Song

New York's Fire Island has been in upheaval lately. There have been numerous blazes, storms, and the changing ownership of the commercial strip where much of the gay life centers around, including the Pavilion nightclub (pictured), Blue Whale restaurant, other retail establishments, and a hotel. After the most recent owners tried to unsuccessfully unload many of their Fire Island properties — which constitutes 80 percent of the waterfront retail on Fire Island — for $25 million, the asking price dropped precipitously.

After being slashed to about $19.5 million, an auction house is offering up the properties with a staggeringly low starting price of $8.5 million. Of course, that could rise during the January 22 auction, but the fact that it's one-third the original asking price is notable.

The auction happens at 1 p.m. at the auctioneer's office on Long Island's Central Islip. "The property will be sold free and clear of all liens, claims and encumbrances," according to Edge. "In order to register to bid in bulk, all prospective bidders must present a cashier's check in an amount of $1 million."