PLG Foreclosure on Hawthorne
Brownstoner is reporting that 99 Hawthorne is in foreclosure.
In the two-plus years that I've been living on Hawthorne I've seen that building cycle through various iterations of FSBO and a number of different brokers trying to move it. According to Property Shark, the house appears to have been sold to a family member in January - who promptly stopped making payments on the new mortgage. So that looks a little shady. I'm just sayin'...
I'm concerned that, post-foreclosure, 99 is going to be a tear-down. There is already the skeleton of what I fear is going to be a Fedders box halfway up the block and two wood-frame houses in between the limstones on the South side of Hawthorne that were apparently (I have only second-hand knowledge) being marketed as a joint sale to developers seeking a large lot.
The future of Hawthorne Street is going to be... interesting.
(Thanks, Matt!)
Even more interesting: my wife and I have been looking at that property for almost a year now (we live two doors down from it). The owner kept flip-flopping about it, trying to sell then taking it off the market, etc. When I saw your blog post about the foreclosure I mentioned it to my roommate who pointed out the window and said, "It's not in foreclosure. Someone's moving in." It's true! Another friend called the (old?) owner: the property was closed on yesterday.
At least it's in the hands of a family and not some real estate developer.
Posted by: Nick | September 25, 2008 at 10:25 PM
That's great news. Thanks for the tip, Nick.
Posted by: Charles Star | September 25, 2008 at 10:49 PM
did Lime close down? saw a for lease sign today as I passed by...
Posted by: Gabriel | September 27, 2008 at 04:38 PM
And what's up on Fenimore between Rogers and Nostrand? Corcoran has a "development site" for sale there, with approved plans: http://www.corcoran.com/property/listing.aspx?Region=NYC&ListingID=1367126&ohDat=10/12/2008%2012:00:00%20AM;
Posted by: babs | October 09, 2008 at 11:30 AM
It's a shame if Lime is indeed closing but thats what you get when you run your business like run down nightclub on Atlantic Ave. I took a female friend there once for an early evening drink. We were subjected to an undignifying strip search, there was no food, staff was friendly but I couldn't see anyone going there unless you were a "local" or west indian. I happen to be both but I never went back.
Posted by: SH | October 12, 2008 at 07:38 PM
A strip search? Really? I think that would be illegal.
Posted by: babs | October 14, 2008 at 04:05 PM
Ok, sorry for the hyperbole. It was an extensive pat down and search through our bags. Mind you - this was 6 in the evening - thats not a way to keep and attract customers to a new bar. I would have understood if it was a nightclub.
Posted by: SH | October 27, 2008 at 10:35 PM