Deutsche Bank AG New York Branch, through an affiliate, took ownership of the three office towers in a streamlined foreclosure process, according to documents filed on Jan. 20 with the Alameda County Recorder's Office. The unpaid debt for the three office buildings totals $442.1 million, the financial titan's affiliate stated in the filing, which was a deed in lieu of foreclosure, the county records show. The original loan that Deutsche Bank provided to Starwood totaled $364.5 million, Alameda County real estate records show.
The foreclosure proceeding forced Academy West Investments to lose its ownership of the property, which the real estate firm had bought in 2020 for $34 million. In 2023, Terra Property Trust provided the Academy West affiliate with a loan for the University Park apartments that totaled $28.3 million, the county property files show. This means the foreclosure value was 26.5% below what the prior owner had paid for the property.
Baker Falls venue in NYC needs help to square up with folks starting with artists and our wonderful team after a year-long struggle to build our community and stay open. We might lose our space due to a weird 3-way combo of the landlord passing away, foreclosure on their estate, and an unexpected lease clause which could cancel our lease with a new owner...if this happens, no other performance venue would probably be able to operate at 192 Allen Street as the commercial space would be redeveloped...
One of these options is buying a home at auction. Buying at auction can move faster than a traditional sale, but it also offers fewer protections for buyers. If you've never heard of buying a house at auction, this Redfin article will outline the process for you. We'll answer your questions about how real estate auctions work and what to bring on auction day.
With a focus on underperforming mall and high-cost locations, two store fronts in New York City have gotten the axe. For example, the Kay Jewelers at 446 Fulton Street in Brooklyn has permanently shuttered. Formerly located in Downtown Brooklyn, the high-rent, bustling retail area has seen a handful of other older and smaller jewelers shut down due to rising costs.
The two foreclosed office buildings are located at 2000 and 2010 Crow Canyon Place in San Ramon, according to documents filed on Dec. 4 with the Contra Costa County Recorder's Office. The office complex is known as Plaza San Ramon. It consists of two similar buildings that together total 312,000 square feet. Texas-based real estate firm C-III Capital Partners had bought the buildings in 2018 and lost them through the foreclosure.
Jordan Trigg, who co-owns several Japantown businesses with his wife, Rina Trigg, has relinquished ownership of multiple parcels on the north side of East Taylor Street between North Fourth Street and North Fifth Street, according to Santa Clara County public records. Joe Jean, chief executive officer of J&J Acoustics, acted through an affiliate to gain control of the parcels at 165, 175, 181, and 193 East Taylor St., documents show.
Imagine working decades to pay off your mortgage only to find out your home was sold right out from under you - and all because you hadn't paid a water bill, which you didn't even know you owed. As impossible as this might sound, such nightmares do happen. In many municipalities across the country, a delinquent bill - even for a few hundred dollars - can put your home at risk of being foreclosed.
Las Golondrinas, a 50-unit apartment hub at 77 Kentucky Place in the Little Portugal area of east San Jose, has been bought by an affiliate of the County Housing Authority, documents filed on Oct. 17 with the Santa Clara County Recorder's Office show.. The Housing Authority affiliate paid $4.5 million for the residential property, a purchase that bolsters the Santa Clara County agency's mission to preserve affordable homes in the South Bay.
SAN JOSE A lender is heading into the final stages of its efforts to seize ownership of The Fay through a foreclosure of a delinquent construction loan totaling $182.5 million. Documents filed with the Santa Clara County Recorder's Office show the lender could take back the 363-unit high-rise at 10 East Reed St. in the SoFA district before the end of the year.
A five-story office building just steps from South Station will be auctioned on Nov. 5. Paul E. Saperstein Co. Auctioneers & Appraisers is listing the 98,000-square-foot property at 99 Bedford St. The building, which dates back to 1899, houses five tenants and features a renovated lobby completed in 2020. Ground-level tenants include Forefront Eye Care and TALK English School, while state filings show that Korb & Associates PLLC also leases office space in the building.
A lender wants to sell the equity interests in the Dream Hollywood hotel, owned by a company connected to Relevant. A foreclosure auction is scheduled for mid-October. The lender, LCP Group, alleges Relevant owes more than $30 million in unpaid debt connected to the 10-story, 178-key hotel at 6417 Selma Avenue. King, for his part, said Relevant is working on a loan recapitalization and extension with the lender.
New York is a very different city from when Mayor Ed Koch was faced with upwards of 100,000 properties having been foreclosed on for property tax arrears but current rates of delinquency are on the rise. Multifamily owners are squeezed by limitations on rent increases baked into the 2019 Housing Stability and Protection Act, rising interest rates, and costs for insurance, among other things.
