This is an interesting story indeed, folks.
See below for a bit of history on this property:
- 7/11/2003 – Condemned by the RDA, along with 35 other properties in the area, known as South Central UDA – Condemnation No. 15A.
- 4/8/2004 – A Memorandum of Redevelopment Agreement, executed 5/27/2003, between the RDA and Universal Real Estate Development Company was recorded. In the Memorandum, Universal agrees to develop the 36 parcels as agreed with the RDA.
- 4/8/2004 – A Parcelization Agreement, executed 10/27/2003, between the RDA and Universal Real Estate Development Company was recorded. In the Parcelization Agreement, Universal and the RDA agree to delete 12 properties from the Memorandum of Redevelopment.
- 4/8/2004 – A Memorandum of Amended and Restated Development Agreement, executed 3/1/2004, between the RDA and Universal Real Estate Development Company was recorded.
- 4/8/2004 – First Amendatory Agreement Between the RDA and Universal, executed 3/1/2004, is recorded. This Agreement eliminates another property (759 S. 17th Street) from the project and amends the Purchase Price to $1,725,000, with a mortgage from the RDA.
- 4/8/2004 – Second Amendatory Agreement Between the RDA and Universal, executed 3/1/2004, is recorded. This Agreement eliminates another property (761 S. 17th Street) from the project and amends the Purchase Price to $1,650,000, with a mortgage from the RDA.
- 9/13/2010 – A Reverter Deed was filed, transferring the property back to the RDA. This deed was signed on 5/18/2006.
Owner RDA since 2006
how much
A Carl Greene Special!
This was in the hands of Universal for 5 years before reverting to RDA, which doesn’t seem to know it is their property.
1515 Catharine St. was also in Universal’s hands, and then reverted to RDA, where it languishes unknown to RDA.
They are still “researching” it. Even after I called a month ago and let them know they own both of them still.