The four-unit building at 559 27th Street was purchased for $1,730,000 in June 2007 with two long-term tenants in place, one of which was protected, and two “renovated corporate rental units with views” which were due to become vacant that summer.
The 2007 purchase was financed with $581,000 down and a $1,149,000 note which has been in default for a year. Having already been postponed a few times, the Noe property is once again scheduled to hit the courthouse steps tomorrow afternoon with a published opening bid of $1,336,740, the total now due on the aforementioned note.
In 2003 the building traded for $1,325,000 with the protected tenant in place and one other unit tenant occupied.