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Thread: I would have Bid $200 ! Unfortunatly then he would have bid $300 :(

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  1. #1
    Charter Member

    Dec 2003
    Western Schuylkill County ; Turn right or left off I-81
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    I would have Bid $200 ! Unfortunatly then he would have bid $300 :(

    I would have Moved into one of the Store places.
    Could have given everyone Discounts on Rent If I could do my Shopping at Night

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    Foreclosed mall once valued at $190M is auctioned for $100

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    TARENTUM, Pa. (AP) — A Pennsylvania mall that was foreclosed on after its owners failed to repay $143 million has been auctioned off for $100.
    Wells Fargo Bank was owed the money from a 2006 loan and submitted the winning bid for the 1.1 million-square-foot Galleria at Pittsburgh Mills on Wednesday. The bank was acting as trustee for MSCI 2007 HQ11, the trust that bought the mall in suburban Frazer Township.
    Wells Fargo foreclosed last year on the mall, which opened in 2005. The mall once was worth $190 million but recently was appraised at just $11 million and is slightly more than half occupied. Pittsburgh Mills Limited Partnership defaulted on the loan.

    vpnavy likes this.

  2. #2
    Charter Member
    us
    Fly Navy!

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    York County, PA (USA) Brevard County, FL (USA)
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    Dang Jeff - could you imagine what the monthly taxes (state) are for that property? OMG - could you imagine what the insurance costs?
    jeff of pa likes this.


    ..: What Pennsylvania County Do You Live In? :..


    ..: What Florida County Do You Live In? :..


    "A free people ought to be armed." - George Washington (January 7th, 1790)
    ..: Criminals obey "gun control" laws in the same manner politicians follow their oaths of office :..

    .:Rules and Guidelines:.

  3. #3
    Charter Member

    Dec 2003
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    Quote Originally Posted by vpnavy View Post
    Dang Jeff - could you imagine what the monthly taxes (state) are for that property? OMG - could you imagine what the insurance costs?
    Yep I Can also Guess most of the Stores in there are Crying Poverty paying their rent Too
    vpnavy likes this.

  4. #4
    us
    Knowledge in machine struck coinage and colonial through 1800's Relics.

    Feb 2013
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    Quote Originally Posted by vpnavy View Post
    Dang Jeff - could you imagine what the monthly taxes (state) are for that property? OMG - could you imagine what the insurance costs?
    The reason why I wouldn't have even bought it for $1, would be impossible to sell too.
    2014-2015 Finds
    1700s Sundial
    165? french liard
    1696 1774 1730s copper
    1723 irish ½ penny
    1730 KG coin toy
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    1779 ½ Real
    NJ Copper 1786
    1805,1838 LC
    23 Coppers 15 colonial
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    Cleaning Finds:
    http://www.treasurenet.com/forums/ge...ns-relics.html

  5. #5
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    Tommy

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    Wow Ill bid 101.00
    jeff of pa likes this.
    KEEP PLUGGIN AWAY!!!!!!!!!!

  6. #6
    Charter Member

    Dec 2003
    Western Schuylkill County ; Turn right or left off I-81
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    I Could have taken the Benches/Display Cases home.
    & let the place go back up for sale & Come out ahead

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    I think one of those light Fixtures would have fit in My room here & gave me a Tan

    Last edited by jeff of pa; Mar 04, 2017 at 02:29 AM.
    coinman123 likes this.

  7. #7
    Charter Member
    us
    DEPLORABLE

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    Wow Jeff, it'seems a shame that you would still lose money if you could sub-divide to allow the occupied stores to purchase their own properties. What would it cost, after the initial $500. purchase, to have a Real Estate company set up a Cooperative among the Retailers at the mall? With very little money down, and lots of paperwork passed around, millions of dollars in profit are made every day.
    I'm surprised that you passed on this one,, lol.
    jeff of pa likes this.
    SOMETIMES I WISH I DIDN'T KNOW NOW ,,, WHAT I DIDN'T KNOW THEN,, Bob Seger

  8. #8
    Charter Member

    Dec 2003
    Western Schuylkill County ; Turn right or left off I-81
    MINELAB EXPLORER SE PRO ....... Garrett Pro Pointer…… Sovereign XS-2 Pro ....... Deteknix Xpointer Diver.... Fisher F19
    58,242
    17980 times
    All Types Of Treasure Hunting
    Honorable Mentions (1)
    Yea I wonder how the Original deal actually Worked.

    If you win a Car, You are responsible for paying the Taxes and Transfer Fees.
    not sure if that must be paid up front.


    So if it is . when he Won the Mall for $100.00
    he was probably Responsible for Taxes on the $11 million appraised value . and maybe up front

    pa state Sales tax of 6% of $11,000,000 would force me to cut my Mattress open

    or make a round trip to Columbia
    vpnavy likes this.

  9. #9
    Charter Member
    us
    Fly Navy!

    Jun 2008
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    OMG - I thought I was the only one that kept my money in my mattress. I also keep my guns wrapped up in $100 dollar bills - who would think about looking in the mattress!
    jeff of pa likes this.


    ..: What Pennsylvania County Do You Live In? :..


    ..: What Florida County Do You Live In? :..


    "A free people ought to be armed." - George Washington (January 7th, 1790)
    ..: Criminals obey "gun control" laws in the same manner politicians follow their oaths of office :..

    .:Rules and Guidelines:.

  10. #10
    ca
    Feb 2017
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    I hide my money in healthy boxes of food, because as we all know nobody opens them!
    Treasure is where you find it, trash is where they left it.

    John

 

 

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