There is an unsubstantiated rumor that Abraham Galonsky will buy La Casa del Nylon back from the City of Brownsville. The rumor comes from a normally reliable source, but is just that, a rumor.
As of yesterday, the building, purchased by the city for $2.3 million in 2012, based on an obsolete appraisal done in December 2010, sits idle. The window on the E.13th side of the building remains broken and the homeless couple we observed two months ago are back living under the awning on E. Adams St.
Even if the city sold the building back at the original purchase price, the taxpayers would not be made whole. Certainly, tremendous interest has accrued in 18 months or so since the taxpayers were saddled with a Certificate of Obligation to pay for all of the speculative real estate purchased downtown by the mayor and city commission.
Another danger, should the $2.8 million be recovered, is that some commissioner might view this sum as "free money" for a pet project. No, that money should be used to pay down immediately on the foolish Certificate of Obligation, not used for hike & bike trails.
Is this kind of like the kid caught with a cookie in his hand and pleads for mercy if he puts in back in the jar?
ReplyDeleteIf he is buying it back, it's probably for a fourth of the price he sold it for.
ReplyDeleteWhat the fock is this about? Update, barton! where's the story?
ReplyDeleteProbably just returning the money, after using it to make more money, it must be nice to have friends that lend you money using as collateral a dilapidated building no generating any income.
ReplyDeleteDid someone smell a possible indictment, hmmmm??
ReplyDeleteIf he does, do we get to cancel the CO, or will it be repurposed for some mutual fart-smelling feel good project to tell us all how to live?
ReplyDeleteThe city has already done work to the inside of the building. Golonsky is a greedy SOB, he has no noble bone in his body. There is rumor of someone filing a lawsuit on behalf of the citizens of Brownsville to recoup the money from this deal and possibly others. Those rumored to be named are Golonsky, Tony Martinez, Horacio Barrera, Mark Siossi and others.....stay tuned.
ReplyDeletemaybe a ploy to divert attention from sale of Lincoln Park, which tweety bird says"already happened, monies in city accounts"
ReplyDeleteYou guys are a bunch of saps. Golonsky will buy the land back, but it will not be for the amount he sold it for. It is going to be for a lot less...and yes there is a lawsuit brewing. That is why they are making the deal. Golonsky is an ex felon and does not want his good name tainted.
ReplyDeleteThe Greyhound Bust Terminal Building on a city block of land with plenty of parking was purchased for $450,000.
ReplyDeleteThe Chinito Building with 50,000 NLS (net leasable square feet/space) on a city block of land with plenty of parking was purchased for $650,000.
The Baja Duty Free Building on E. 14th and Washington was purchased for $205,000
The El Jarding Hotel, historic building that qualifies for grants was negotiated at a price of $750,000 but the city would not buy it, even with a grant that I found to purchase the building and was later sold to a private investor.