BRUNSWICK — Brunswick’s historic The Daniel Hotel, which sold at a bank foreclosure auction this fall, will reopen under new owners, with a new name and a new restaurant after some renovations, according to the buyer’s broker.

The 10 Water St. property, previously listed for sale at about $2.9 million and valued by the town at $1.9 million, was purchased by Bella Point Holdings LLC at a bank foreclosure auction in September, according to Brunswick’s assessing department. It sold for $1.6 million.

Jennifer Davies, broker for the buyers and associate broker and vice president of Portland’s Compass Commercial Brokers, said in an email Saturday that while the buyers initially planned to convert the hotel into elder housing, “the group has decided an upscale hotel is the best fit.” 

They plan on reopening with “a new name, renovations and a new restaurant,” she said, calling the plans for the hotel and restaurant “very exciting.” A name or opening date for the hotel has not been announced. Attempts to reach representatives from Bella Point Holdings were unsuccessful. 

The buyers, who outbid four others at the Sept. 17 auction, declined to comment after the sale and Ruth Lind, a broker with Tranzon Property Auctions, said last month that the agency has been instructed not to provide any more information. The sale closed Nov. 20. 

Under the terms of the auction, the buyer agreed to accept the property as it stands. 

According to the property information package, five of the 24 guest rooms are “out of service,” six rooms in the historic federal house have not been completed and the elevator, which has been broken for a year at least, still isn’t working. The sale also included roughly $80,000 in back taxes still owed to the town.

A town official in the tax collection office said Wednesday that the back taxes have since been paid. 

Despite its faults, Lind said previously that The Daniel, is still a “high-value property” that received a lot of interest from prospective buyers. 

The Daniel was previously known as The Captain Daniel Stone Inn and dates back to 1819.

In February, Abhijit Das, CEO of Troca Hotels, announced his intent to sell the longtime hotel after seven years of ownership, the last of which was clouded with months of financial and operational struggles. The Daniel was listed for $2.9 million with Daigle Commercial Group. 

“As part of a strategic decision by Troca Hotels, The Daniel is on the market,” Das said in a statement at the time. “Troca Hotels, its team members, partners and investors are proud to have been a part of the history of this iconic asset and look forward to passing the torch to a new owner seeking to own and operate an incredibly special part of mid-coast Maine.” 

The hotel went into foreclosure not long after.