Local developer Mike Lundy now owns Watertown's North Side Improvement League.
Lundy tells 7 News he closed on the property Thursday.
League members say Lundy paid $325,000 in cash.
The property had been the subject of controversy in recent months.
In March, rival developer PJ Simao tried to block Lundy's deal. Simao said the league could get more money for the building and he was willing to help pay legal expenses to prove it.
First Student, the company that won the Watertown City School District's bus contract, also briefly considered leasing the the property. However, that plan was ruled out.
Lundy said he's not ready to reveal his plans for the building.