Home Auction Highlights Geppi Woes

The Baltimore Sun notes an auction today for Steve Geppi's former home two years after it was put on sale for $7.7 million at the beginning of the housing market slump that preceded today's lingering Recession.

The 19th Century mansion features eight bedrooms, nine fireplaces, a wine room, a home theater, a grand hall, a game room and a gym. The Geppis paid $4.8 million in 2004 for the home, and put it on the market in January 2008 moving to a nearby home. The estate was most recently listed for sale at $3.6 million.

The article notes various Geppi financial setbacks and danger signs such as May 2009's rent reduction at the Geppi Entertainment Museum following rent difficulties, a $16.4 million bank judgment in January 2009 and a Harbor Bank judgment of $3.5 million from March 2010.

thanks, Mr. Holden
 
posted 9:10 am PST | Permalink
 

---

 
Daily Blog Archives
November 2019
October 2019
September 2019
August 2019
July 2019
 
Full Archives