  Lowell Board Administrator Username: Lowell Post Number: 3792 Registered: 10-2003 |
Who is he? A report on WDIV just said that fire marshall is evicting [no sure if that is the correct term but they have to leave now] all residents from a loft project of his whose name I didn't catch but thought it was called Milwaukee lofts. As I understand it he also owns: Boydell Building Niki's Pizza Western YMCA Fort Wayne / American Hotel Farwell too? What else? | ||
Scs100 Member Username: Scs100 Post Number: 840 Registered: 12-2006 |
He co-owns Clark Street Enterprises, according to the Metro Times. That's all I could find on a quick Google Search. | ||
Urbanoutdoors Member Username: Urbanoutdoors Post Number: 186 Registered: 11-2005 |
The Loco bar as well. | ||
Mackinaw Member Username: Mackinaw Post Number: 2688 Registered: 02-2005 |
I'm told he's one of the top slumlords in the city. Pretty sure he has a Merchant's row storefront and possibly some Capitol Park holdings. He does own Niki's, which I love. He was born in Greece. Completely self-made immigrant. He lives in Grosse Pointe Farms. | ||
Kristina Member Username: Kristina Post Number: 30 Registered: 07-2006 |
Coaches Corner, Nikis, Locos, Boydell, Bouzouki, Russell Industrial, The Grind, John R Lofts, Milwaukee Lofts...hmm..there's more..He's my boss, ugh. | ||
Gravitymachine Member Username: Gravitymachine Post Number: 1587 Registered: 05-2005 |
russell industrial center unfortunately, which makes him (one of my) landlords. most of my co-tenants and i hold him in great contempt, but finding space to do what we do at that price is not the easiest thing in world. (Message edited by gravitymachine on April 14, 2007) | ||
Sticks Member Username: Sticks Post Number: 259 Registered: 08-2005 |
FYI, it's not The Grind anymore, it's Bouzouki II. Funny you should start a thread on this, Lowell. I believe his name came up at the FSC last night. | ||
Barnesfoto Member Username: Barnesfoto Post Number: 3345 Registered: 10-2003 |
one of Detroit's top slumlords. | ||
Supersport Member Username: Supersport Post Number: 11491 Registered: 10-2003 |
He was in fact talked about during FSC just a few nights ago. While one attendee had nothing bad to say, she was the first person I had ever met who didn't consider him the top slumlord in the city. I've had many friends live in his buildings, none of which had anything good to say. Glad to hear that the city is finally going after this guy. | ||
Psip Member Username: Psip Post Number: 1795 Registered: 04-2005 |
I thought I heard on the news last night, it is a 125 unit loft and there was NO fire alarm system. It appeared that work was started on the installation. Lots of conduit and boxes installed but no wires. A lot of really sloppy workmanship. | ||
Buddyinrichmond Member Username: Buddyinrichmond Post Number: 150 Registered: 02-2004 |
Awww come on folks. If it wasn't for the efforts of Dennis Kefallinos we might have lost several pieces of Detroit's built history. Applause. | ||
Tkierpiec Member Username: Tkierpiec Post Number: 4 Registered: 03-2007 |
I was with one of Dennis' employees yesterday when the fire marshal was at the Milwaukee Lofts. It was a really weird feeling looking at the units with the hallway filled with these official looking men in dress blues! I was trying to decide whether I wanted to live there or Universal Lofts. Guess what I decided? ;) He also owns John R apartments, Harmonie Park Lofts, Brooklyn Lofts, River Park Lofts and a ton of other buildings. The employee of his I was with yesterday pointed out a big abandoned building he had just purchased on Grand Blvd recently. | ||
Brandon48202 Member Username: Brandon48202 Post Number: 166 Registered: 12-2004 |
This is their website: http://www.loftplace.com/ | ||
Michigansheik Member Username: Michigansheik Post Number: 185 Registered: 09-2005 |
thats a website? seems like just a pic!!! | ||
Chitaku Member Username: Chitaku Post Number: 1298 Registered: 03-2006 |
I get to watch him oogle my girlfriend everyday as I step out of my rented loft from him. I think this place is pretty sweet, but I don't need much. The elevator in here is a death trap though | ||
Chitaku Member Username: Chitaku Post Number: 1299 Registered: 03-2006 |
just called s friend she said it was something about a flood at the milwaukee lofts | ||
Reetz12 Member Username: Reetz12 Post Number: 162 Registered: 09-2005 |
Our building at Russell Industrial Center had no power on Thursday/Friday! | ||
Gravitymachine Member Username: Gravitymachine Post Number: 1588 Registered: 05-2005 |
which building are you in? i'm in two btw, i saw a few uhaul trucks outside of the milwaukee lofts this afternoon | ||
Gannon Member Username: Gannon Post Number: 8937 Registered: 12-2003 |
His brother is the owner of the Detroiter...there apparently is NO love lost between them. Dennis owns the Shores Inn as well...I've met him while I was doubting my ability to wait any longer for the loft I ended up living in now...and thought him personable enough, but heard how his management team runs the buildings and realized I didn't want to bother with that bs. Overall, I'd say he is doing what he needs to do to run his empire in the city...this is merely a hiccup for him. That Milwaukee Park loft is the one Superaygun moved out of in a hurry a few years back...I almost took one of their giant units at the north, until I learned it wouldn't have air conditioning! Plus there were only three washer/dryer sets for almost a hundred units in my part of the building...pretty amazing. Good luck to all those displaced...they should contact my landlord for a closer space to the CBD. | ||
Chitaku Member Username: Chitaku Post Number: 1300 Registered: 03-2006 |
I drove by the lofts and saw some lights on tonight | ||
Ladyinabag Member Username: Ladyinabag Post Number: 225 Registered: 03-2007 |
Maybe he needs help. Apply!! One guy can't do this all alone. I would imagine that he needs advisors as well. Just because a person has money does not mean that he has wisdom. (Message edited by ladyinabag on April 15, 2007) | ||
Danny Member Username: Danny Post Number: 5797 Registered: 02-2004 |
Dennis Kefallinos HAH!!! I was told The Ghettoman that He the worst slumlord in Detroit. The Ghettoman the Mr. Kefallinos got into little critical debate about the City of Detroit building codes and one of his buildings haven't passed City of Detroit building codes but the other properties he owns passed some city building codes and still up the running. (Message edited by danny on April 15, 2007) | ||
Kathinozarks Member Username: Kathinozarks Post Number: 373 Registered: 11-2006 |
Back in early 1990's I worked at The Shores Inn in SCS on Mack for a short while. My boss was a short, blond, young-ish Greek guy. Is that Dennis? I didn't think that was his name. | ||
Scruffy Member Username: Scruffy Post Number: 5 Registered: 04-2007 |
In Capitol Park, he owns: Former Christian Science Reading Room (Now Guardian Security) at Griswold and Grand River Former Zimco Textiles Building on opposite corner Red brick building at State and Shelby. He also owns former Kresge Building at 1201 Woodward | ||
Iddude313 Member Username: Iddude313 Post Number: 62 Registered: 07-2005 |
Looks like he's giving Ms. Huff some real competition. | ||
Gannon Member Username: Gannon Post Number: 8941 Registered: 12-2003 |
Kathi, I don't know HOW long he's owned the Shores Inn. That Capital Park listing is interesting...but his listing of existing loft properties alone is longer than twenty, from what I've heard...might be closer to thirty. I might've gotten that from his right-hand man at the Milwaukee Park lofts when I was close to signing the lease. Cannot remember, but it was from a trusted source. Man am I glad I chose to live where I'm at now...I'd hate to have to move all of my shit out in a rush this weekend!! I was hours away from making a huge mistake a year and a half ago. Cheers! | ||
Swingline Member Username: Swingline Post Number: 781 Registered: 11-2003 |
Kefallinos has been straddling the historic preservation/slumlord fence for a long time. It's difficult to criticize a guy who has taken so many buildings that are floundering in decay and obsolesence and found ways to make them productive. Most of his buildings are in locations that guarantee that had he not kept them open, they would have been stripped within a month. We would have had a lot more empty demolition list candidates. But, while he has prevented buildings from being lost, he is no preservationist. The loft spaces of his that I have seen look like they were built out by a drunk in-law uncle who claims to be in the "remodeling" trade. Need a completely new kitchen? You got it, cabinets, counters, flooring and appliances all for $1,999. He has destroyed several facades around the CBD by sandblasting. In several instances, has compounded the sandblasting by cladding the first floor of the buildings with EIFS designs that would make any Florida strip mall owner proud. Also, as has been noted on the forum on occasion, many tenants have had repair or other issues with their Kefallinos units. I'm sure that if the city wanted to, it could wreak occupancy code havoc with all of his buildings. Apparently he makes money. He's been around a long time and he keeps buying more buildings. | ||
Tkierpiec Member Username: Tkierpiec Post Number: 5 Registered: 03-2007 |
I am so irritated with Kefallino's Detroit Leasing Center. As I stated before, I was looking into renting a Milwaukee Loft and scrapped that idea on Friday, before the place was condemned. Hours before it was condemned, they were telling me not to let this little problem "discourage me". ha! So I decided to go with a unit at Universal Lofts and had an appointment this morning to sign papers, exchange money, etc. for a May move in. Now they have canceled on me due to the Milwaukee Lofts hullabaloo. I'm not sure why but the property manager just basically said the timing is not good. I suppose I should be thanking my lucky stars not to be involved but I really had my heart set on moving into a Detroit loft. I'm about ready to scrap my plans of moving to Detroit, period. I think I will just stay here in Ann Arbor. | ||
Spiritofdetroit Member Username: Spiritofdetroit Post Number: 391 Registered: 11-2006 |
There are plenty of other, better options, than Keffalinos. Dont let this discourage you | ||
Gambling_man Member Username: Gambling_man Post Number: 996 Registered: 11-2003 |
Reetz and Gravity, what kind of businesses do you guys have in Russell industrial center? | ||
Reetz12 Member Username: Reetz12 Post Number: 164 Registered: 09-2005 |
We are in Building #3, the only tenants left in building number 3. Still without power and no timeframe when it will be fixed. We are a commercial flooring company and no power means no elevator! Can't get material down to the loading dock. | ||
Royce Member Username: Royce Post Number: 2188 Registered: 07-2004 |
Lowell, this thread needs to go under the Milwaukee Park Lofts thread. I had no idea that this thread was about the lofts. Sure wouldn't know with that title. | ||
Gravitymachine Member Username: Gravitymachine Post Number: 1595 Registered: 05-2005 |
mine is less business and more hobby, i do woodworking and designy stuff. damn reetz, sorry to hear | ||
Gannon Member Username: Gannon Post Number: 8951 Registered: 12-2003 |
Tkierpiec, E-mail me at jfgannon at ix dot netcom dot com (trying to escape the e-bots), you should look into the Eastern Market, if you haven't already. ModelD's report on a cool loft development on the north end...of which I'm quite familiar! There are units on the first floor, and a whole bunch of ones almost ready on the second...some really amazing spaces, and as far as I know each month's rent accrues towards a purchase deposit in five years once the Federal Historic Tax Credit time limit on renting expires and they go condo...with a sweetheart deal from the financing bank on the mortgages, a point and a half less than your qualifying rate for living in the same spot for five years! (not a bad plan in THIS real estate market) Cheers! | ||
Gistok Member Username: Gistok Post Number: 4133 Registered: 08-2004 |
Thanks for the background info Swingline. Maybe the city has had enough of his half assed attempts at fixing up his buildings, and has decided to play hardball. Either fix them up correctly, or sell them. | ||
Tkierpiec Member Username: Tkierpiec Post Number: 6 Registered: 03-2007 |
Oh, I know that is probably true, Spirit, but I am having trouble finding those options. I'm really trying not to be discouraged but I've been searching for months and nothing seems to be going in my favor. My price range really rules out a lot of the nicer loft developments. And I really wanted a loft as opposed to any other type of housing because I am self employed and wanted the space & the natural lighting for photography purposes. | ||
Tkierpiec Member Username: Tkierpiec Post Number: 7 Registered: 03-2007 |
gannon, that's a beautiful building with amazing lofts but out of my price range, unfortunately. Looks like they start at $1,000 per month and I'm looking for something in the $700-900 range (and the higher range needs to include some utilities.) | ||
Lowell Board Administrator Username: Lowell Post Number: 3797 Registered: 10-2003 |
Royce, this thread is about Dennis Kefallinos and his holdings. The roll call is still going on and it is pretty impressive. NBD, but if anything the Milwaukee loft thread / incident should go here as this is the earlier thread. I think the slumlord moniker is a bit early as it seems that he has developed properties and businesses, albeit it with checkered results, to go along with the ones he is sitting on. It is amazing how little he googles up in view of the size and scope of his holdings. So here is the roll call. Any additions or corrections? Boydell Building Niki's Pizza Western YMCA Fort Wayne / American Hotel Farwell too? Merchant's row storefront Loco bar Coaches Corner The Grind/Bouzouki II Bouzouki I too? Milwaukee Lofts Russell Industrial John R apartments Harmonie Park Lofts River Park Lofts Shores Inn Kresge Building at 1201 Woodward Former Zimco Textiles Building on opposite corner Red brick building at State and Shelby Operates via: Detroit Leasing Center Clarke Street Enterprise | ||
Gambling_man Member Username: Gambling_man Post Number: 998 Registered: 11-2003 |
Reetz, shoot me your e-mail if you could please. | ||
Ladyinabag Member Username: Ladyinabag Post Number: 229 Registered: 03-2007 |
I bet that if a crew of prudent handymen went to him and made him a REASONABLE offer, they would be hired immediately. I really think that he just needs GOOD help. | ||
Dougw Member Username: Dougw Post Number: 1651 Registered: 11-2003 |
I'll back up Royce a bit for once and suggest that this thread be renamed to "Dennis Kefallinos and the Milwaukee Park Lofts" or similar. The Milwaukee Park evictions were the big news story that started this thread, and I was looking for a thread on it but didn't find this until just now. (I didn't know who Dennis Kefallinos was.) Subject names are very important. ;) | ||
Homer Member Username: Homer Post Number: 159 Registered: 08-2004 |
He also owns Lafayette Lofts, near main Post Office Burned out warehouses on Vinewood N. of Toledo | ||
Reetz12 Member Username: Reetz12 Post Number: 165 Registered: 09-2005 |
G-Man - reetz12 at hotmail dot com | ||
Taj920 Member Username: Taj920 Post Number: 210 Registered: 01-2004 |
I'm sure Shores Inn throws off a lot of cash; that place is always jammed. | ||
Gannon Member Username: Gannon Post Number: 8955 Registered: 12-2003 |
Tkierpiec, Take a tour and make the guy an offer, especially IF you won't be around for long enough to buy later. You never know...he's a businessman and needs good people. The units ARE all sans utilities, though. So only look at the southern and eastern windowed units! | ||
Chitaku Member Username: Chitaku Post Number: 1304 Registered: 03-2006 |
the boydell building is cheap and all you have to pay is electric | ||
Tkierpiec Member Username: Tkierpiec Post Number: 8 Registered: 03-2007 |
Add Brooklyn Lofts & Universal Lofts as well. Okay, Gannon, you've convinced me. Nothing ventured, nothing gained - it's worth a shot! At the very least, I'd just love to take a tour through those lofts. They look really nice! Chitaku, I looked at the Boydell building but hated the smell of the hallways (I seriously can't take the smell of Greek spices!) and the parking situation. Even though $20 a month to park on the top level of the new parking structure is a great deal, really. At any rate - I'm under the impression that they are not renting any units in any of the buildings at this time. Perhaps that is because they are trying to make room for the displaced people from the Milwaukee Lofts. | ||
Gannon Member Username: Gannon Post Number: 8960 Registered: 12-2003 |
That is a good catch, hadn't thought of that...there are a great many folks lookin' for a new place to rest their heads. They might also be wondering IF the city is going to start stomping on their other buildings, too. Have Bob call me when you're going through, I'll try to stick around, but no promises after noon. Tell him no worries, I've cleaned the place up since the last time he was there! I'm not sure if the second floor artist's unit with the attached bathroom is available or not, that one has one of the greatest views of the skyline...I wanted to get a few neighbors together and rent it together for a social room! A few of those use that communal bathroom, they will be pretty inexpensive...aimed at artists. It is an amazingly quiet place to live at night, save for the occasional hazmat call to the boys in red next door. | ||
Toolbox Member Username: Toolbox Post Number: 1051 Registered: 10-2003 |
He also owns The Carey Building on Broadway and Gratiot. It has been under "renovation" for almost 4 years and looks like shit still. It could be a stellar building in the right hands. | ||
Toolbox Member Username: Toolbox Post Number: 1052 Registered: 10-2003 |
He also owns The Carey Building on Broadway and Gratiot. It has been under "renovation" for almost 4 years and looks like shit. It could be a stellar building in the right hands. | ||
Diehard Member Username: Diehard Post Number: 44 Registered: 03-2005 |
I could tell all kinds of horror stories about dealing with him and his people when I lived at Lafayette Lofts. I knew he owned a lot of places, but that list is far bigger than I'd thought. It's hard to boycott an asshole when he owns half the city. | ||
Gambling_man Member Username: Gambling_man Post Number: 999 Registered: 11-2003 |
I want to clear something up.....Dennis does NOT own the Shores Inn. | ||
Gannon Member Username: Gannon Post Number: 8987 Registered: 12-2003 |
Thanks G_m, funny I had that from what I thought was good source. What took you so long?! | ||
Naturalsister Member Username: Naturalsister Post Number: 880 Registered: 11-2004 |
I'm at Boydell (8years) Today - Wednesday, I ran into a lady from Milwaukee lofts who warned me of the looming condemnation of my building as well. Has anyone else in any of his properties heard anything? later - naturalsister | ||
Chitaku Member Username: Chitaku Post Number: 1323 Registered: 03-2006 |
no but that would suck | ||
Chitaku Member Username: Chitaku Post Number: 1324 Registered: 03-2006 |
honestly if that happens what do you do? I'm shakin in my boots here. I'd hate to have to move all this junk and find a new place | ||
Naturalsister Member Username: Naturalsister Post Number: 881 Registered: 11-2004 |
Yeah, 8 years worth of living - I have a decent amount of stuff here too. For some reason, I'm not worried or anxious. I will keep you all posted if anything develops. later - naturalsister | ||
Tkierpiec Member Username: Tkierpiec Post Number: 23 Registered: 03-2007 |
I'm confused about the building condemnation thing. I know that the Milwaukee Park Lofts were condemned a few weeks ago and the tenants were given 48 hours to leave. Something like 80% of the residents cleared out that weekend. But according to somebody I know who works for the company, those people merely left because they were in a panic and they never really had to move. They actually lost quite a few tenants at another of their buildings over the next week because of the Milwaukee fiasco. The building is still being rented out - they have a new ad on craigslist this week. How can that be if the building is formally condemned? Maybe you should call Dino (leasing agent) and ask him what is going on. He seems like a straight shooter to me. | ||
Swingline Member Username: Swingline Post Number: 799 Registered: 11-2003 |
Buildings get "condemned" when they are found to be structurally unsound and present a danger to occupants and the general public. My third-hand (and probably inaccurate) knowledge of the Milwaukee Lofts situation is that the certificate of occupancy was revoked due to fire safety reasons. E.g., ingress/egress and/or sprinkler violations. Such revocations are issued only after a building owner has ignored civil ordinance infraction tickets that direct an owner to bring a property into compliance with whatever building code has been violated. A revocation of a C/O does not mean that a building has been "condemned." Who has first hand information about what happened here? | ||
Ravine Member Username: Ravine Post Number: 835 Registered: 01-2006 |
In the mid 70's, I briefly bussed tables at the Buhl Cafe/Bar (in the Buhl Building downtown, of course.) There was a Greek waiter there who bore that very name. I wonder if it's the same guy. He should be in his mid-50's. Interesting place to work. The Giacalone family sure liked their garlic toast. Dennis was an easy-going guy, and fun to work with, but he did seem like a potential scumbag. | ||
Downtownguy Member Username: Downtownguy Post Number: 11 Registered: 07-2004 |
Buhl Bar is where Dennis worked after he came from Greece. I thought he was a dishwasher. Anyway, saved his pennies and lived the American Dream. Niki's was his first venture--opened about 1980. He's a personable guy. His buildings are not all the greatest, but they're also usually cheaper than comparable places. I've been renting at Russell for 2 1/2 years. | ||
Reetz12 Member Username: Reetz12 Post Number: 168 Registered: 09-2005 |
Dennis' brother Steve Kourelis the owner of Shores Inn, Great Baraboo, etc. passed away yesterday. Was told the establishments would not be open today because of the funeral. | ||
Jams Member Username: Jams Post Number: 4971 Registered: 10-2003 |
Bump for Amy_P | ||
Verifiable Member Username: Verifiable Post Number: 40 Registered: 05-2007 |
Based on public documents recorded 2/28/07 with Wayne County Register of Deeds; one Dennis Keffalinos on 1/05/07 signed over title of property located at 2030 Grand River Ave. W. (Elizabeth Street Lofts) to "West Grand River Lofts LLC" (an entity incorporated on 1/03/07 and 100% controlled by the Ilitch Family's Olympia Development). Ilitch paid Keffalinos $1.73 million for the 0.17 acre lot and the 22,689 square foot "lofts" building. | ||
3rdworldcity Member Username: 3rdworldcity Post Number: 666 Registered: 01-2005 |
Verifiable: You are a great asset to this forum. Thanks for your input, which I've found valuable. $1.73 million for the site equates to $234 per sq. ft, which as far as I know is the highest price paid for land in Detroit, ever. That's up there w/ well located land on the Vegas Strip. Hard to believe. (I am shocked that the parties would not conceal the purchase price on a recorded instrument.) I was on a plane recently and sat next to a guy who works in finance at Wayne State and he told me Dennis K recently either purchased or is going to close on Shapiro Hall by Lafayette Park. That's a pretty decent looking building I think. | ||
Gistok Member Username: Gistok Post Number: 4403 Registered: 08-2004 |
That $234 per sq. ft. will be chump change compared to what Ilitch will end up paying to get the parking lots at 142 W. Elizabeth, 178 W. Columbia and 200 W. Columbia. These are currently owned by the family of Freda Alibri, the person(s) who sued to get their parking lots back after they were "Eminent Domain'ed" for the new Ballpark when it was still planned for west of the Fox. Without those 3 parcels, there isn't going to be an arena between Park Ave. and Cass Ave. | ||
Verifiable Member Username: Verifiable Post Number: 41 Registered: 05-2007 |
You are all most welcome. It's rewarding to see that you have taken the work to another level. If you spend anytime reviewing public real estate documents you'll see there are often mistakes from misspellings & freudian typos to inconsistencies in primary ownership from agency to agency. I suspect Ilitch and Keffalinos did not intend for the transactions "consideration" (price paid for the property)to be so readily available to the public but some data entry person somewhere in the pipeline mistakenly input the $1.73 million figure into the public disclosure data base. Not all that dissimilar to the divorce/custody related documents filed in San Diego County, CA (4th Appellate District) involving David Trepeck and Carole Ilitch Trepeck this past March that were "not to be published in official reports" but are available at various legal data base sites online nevertheless -- apparently in error. | ||
Spitty Member Username: Spitty Post Number: 572 Registered: 07-2004 |
Regarding Shapiro Hall, I went by there the other day and there were two cars parked in the loading ramp that aren't usually parked there and there were two older guys raking up yard waste. The 'For Sale' sign now has a SOLD sticker over it as well. It may have always said that, but I was wondering if anyone has any more info. I don't know how to, but I'm sure someone on here knows how to find out if Shapiro Hall was purchased recently and by whom. | ||
3rdworldcity Member Username: 3rdworldcity Post Number: 671 Registered: 01-2005 |
Call Wayne State, the previous (?) owner and ask. I'd check w/ the Finance/Treasurer's office. Let us know. Thanks. | ||
Toolbox Member Username: Toolbox Post Number: 1081 Registered: 10-2003 |
Dennis K did purchase Shapiro Hall last week. | ||
Verifiable Member Username: Verifiable Post Number: 42 Registered: 05-2007 |
Gistok, Assembling the Alibri properties might not be all that difficult. It seems they have been forfeited to the Wayne County Treasurer. Collectively there's $83,000+ in delinquent taxes owed. 142 W Elizabeth St, Detroit, MI 48201, Freda Alibri; delinquent taxes owed $52,387.90 171 W Columbia St, Detroit, MI 48201-3403, Freda Alibri; delinquent taxes owed $7,493.72 200 W Columbia St, Detroit, MI 48201,Freda Alibri; delinquent taxes owed $23,223.48 | ||
Lowell Board Administrator Username: Lowell Post Number: 3867 Registered: 10-2003 |
Does this mean that the three properties are totally forfeited and now owned outright by Wayne County? Based on what the Grand River property fetched, I would think Alibri would have little problem getting a backer to offset those delinquencies. I'll second 3WC... great info Verifiable and welcome to the forum. | ||
Taj920 Member Username: Taj920 Post Number: 218 Registered: 01-2004 |
After the property forfeited, there is a one-year period to redeem back taxes before it is foreclosed. When foreclosed, property is then auctioned off by the Treasurer. | ||
3rdworldcity Member Username: 3rdworldcity Post Number: 673 Registered: 01-2005 |
Also, there was a MI Su. Ct (or, Ct of Appeals) decision a week or so ago that provides other potential avenues of relief to aggrieved taxpayers. The Alibri family is quite wealthy, and they're sophisticated real estate people. It's hard to believe - inconcievable - that they'd lose a property for non-payment of taxes. Something's wrong w/ this picture. Toolbox is correct. DK closed on the Shapiro Hall deal 2 weeks ago, and he did sell the Grand River property for $1,750,000; I remember when he purchased that property and I know he paid less than $25,000 for it. The original tenants were techno music folks who lived and recorded in the building. The rich get richer (at least on paper.) | ||
Verifiable Member Username: Verifiable Post Number: 44 Registered: 05-2007 |
Not an expert at understanding what these tax records mean. Others should review ... but it's certainly a lot more complex than being one year in arrears. Interest and penalties are compounding and several certificates of forfeiture have been issued per property. |
