The bank provided a $13.8 million loan on the mansion in June 2021. Cathay filed a default notice on the property in January 2023, claiming that the previous owner, Frank Hai Lin, fell behind on $13.1 million in debt.
The property was first listed for $26 million in January 2022, according to a Zillow listing. After nearly six months on the market, the asking price was cut to $19.6 million.
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