NEW BEDFORD (AP) -- The mill where billionaire investor Warren Buffett first made his mark is being razed.

Roland Letendre, current owner of the Berkshire Hathaway mill, started demolishing the structure Monday.

Letendre told The Standard-Times the mill had been on the market with an asking price of $500,000, but it needs about $1 million in repairs. He still plans to sell the land.

Buffett, then 34, acquired control of the textile manufacturer in 1965. He closed it in 1985 and later sold the complex to Letendre for $215,000.