After seeing an email notification yesterday about the pending demolition of 2522 Penn Ave N, one of two decrepit houses owned by local disinvestment specialist* Keith Reitman, I decided to stroll over to the corner of 26th and Penn for photographic evidence. Much to my pleasant surprise, a demolition has also been set for the other twin at 2520 Penn.
The latter is particularly impressive because 2522 has apparently already been purchased from the city. Currently it seems that 2520 is still owned by Reitman and perhaps a host of others as well. I'm hoping that the city does manage to hit Reitman with the demo fee in this case, instead of capitulating and buying him out at what could be an inflated price.
Photos of the demo orders after the jump...
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| 2522 Penn Ave N, already owned by the city. |
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| listed below... |
Keith Reitman is shown twice, once with his PO Box 11382, and another time with an address in south Minneapolis, 5732 Oliver Ave S.
After Reitman, we have:
1. Leonard Larson Jr. who has an address at 639 18th St E #223 in Minneapolis.
2. Virginia Peltier, 11810 53rd Ave N, Plymouth MN
3. Edna Anderson, 7216 Monardo Lane, Edina MN
4. Citibank
5. Professional Systems of Mankato, Inc. 360 Pierce Ave #100, North Mankato MN
6. Unifund CCR Partners, 10625 Techwoods Cricle, Cincinnati OH
7. Midland Funding, c/o Midland Credit Management, 8875 Aero Dr #200, San Diego CA
8. Target National Bank, Target Financial Services Mail Stop SC-F, PO Box 673, Minneapolis MN
9. Internal Revenue Service, Advisory UNit M/S 5900, 30 - 7th St E #1222, St. Paul MN
10. Leonard Larson, 4141 Standish Ave, Minneapolis MN
Some of these people may be innocuously connected to Reitman, if such a thing is possible. For instance, I have seen demolition orders posted on buildings that included notifications to Realtors who listed the property as long as two years prior to the raze order. Even so, the list of mortgage companies, creditors, and especially the IRS provides some rather interesting Reitman tidbits. Something tells me that even after the demolitions, there will still be some digging to do here.
*credit for the term "disinvestment specialist" goes to Eric Johnson, with thanks.
So...who is paying for these demos? Reitman or the People of Minneapolis?
ReplyDeleteWho owns the land after the structures have been demoed?
How come he hasn't been fined with the $6000 Vacant building fees on both of these for the last several years?
As long as demolition continues, I will continue to state how I AM NOT IMPRESSED. Why we do not have a DECONSTRUCTION program like Saint Paul does, is a mystery. I'd love to build a luxury addition on any home with the materials which will be WASTED in the demolition of these buildings.
ReplyDeleteFrom another perspective, I see how "development" at that corner would be strategic in neighborhood re-characterization. Are there any master plans available to get a look at the future of these lots? Jordan is not very open with any type of images or much anything at all on their website.
@Anon 2:37, the city is paying for the demo of the first property, since they already own it. On the second one, the demo fee will be assessed to the property, and outside of any deal already struck with the city, Reitman will either pay it or more likely let it sit there until tax forfeiture.
ReplyDeleteWhich brings up another question. Could we create rules that state if someone like Reitman, or Moghul, or Khan, has a certain number or dollar amount of unpaid assessments, that they would lose their rental licenses?
@Ray, I agree. I'm buying a home that needed extensive rehab and was just inside a house owned by the city that is slated to be demolished (2930 Newton, a FOOLISH decision that should be REVERSED). I couldn't help but wonder how much cheaper my rehab costs would have been if we could salvage these parts for reuse in the same community. Furthermore, such a program would promote the historic aesthetics of our housing stock.
Trivia Question:
ReplyDeleteWhat do Paul Koenig and Denny Hecker have in common?
Answer:
Their BK Trustee's caught both of them hiding assets and their attorney's quit.
How did the City acquire the first property and at what cost?
ReplyDeleteIf a "landlord" can't maintain their investments and keep them from being burdens on the community - the business licenses should be pulled!
What do you think Don, Diane, and Barb?