My grandfather's name was Edgar Nelson. I have a scan of a newspaper article about the purchase. The seller's name wasn't real clear but after a bit of research, I'm pretty sure it was Horace Rosecrans.
One thing that has me a bit confused is that the property is listed as being on East Lake Road which looks to be closer to Auburn than Moravia. East Lake intersects with Rockefeller Road which DOES run down through Moravia. Makes me wonder if they might have changed the name of the road since 1940.
Edit: I just looked at the article again and it states the property is "opposite Cascade." In looking at a map, that's at the south end of the Lake and which would put the property off of Rockefeller Rd.