Baltimore city’s tax-sale list
March 24, 2009
Below is an article from the Balitmore City Paper
Ritz Carlton Residences, Belvedere, Streuver properties on city’s tax-sale list
On May 18, the city of Baltimore is holding a tax sale, and today the list of properties that will be up for bidding was released (you can check the full list out for yourself at Bid Baltimore, the 2009 tax-certificate auction website). Included on that list are 71 units at 1209 N. Charles St., the “condominiums with imagination” development near Penn Station built by Streuver Bros. Eccles and Rouse in conjunction with CJUF–Canyon Johnson Urban Funds–a real-estate development company that invests in underserved urban neighborhoods. CJUF is a joint venture between Canyon Capital Realty Advisors and Earvin “Magic” Johnson. According to the tax-sale site, Streuver and CJUF II 1209 LLC own the units, which have tax liens ranging from $304 for a 180 square-foot space in the building (unit P 38B) to $17,428.59 for a 1,627 square-foot condo (unit 413). The companies have until May 1 to pay the tax debt, and if they fail to do so, all of the tax liens on the properties are up for grabs–bidders that win them at auction must give the owners a chance to redeem the properties by paying back the tax lien at 18 percent interest, plus fees and penalties incurred by the tax-lien purchaser. If the owner of the property doesn’t pay up, the owner of the lien can take the issue to court and ask a circuit court judge to issue a foreclosure on the property.
Also included on the tax-certificate auction list are 54 properties in the Belvedere, at 1 E. Chase Street, owned by various parties, and 174 properties at the Ritz Carlton Residences located at 801 Key Highway, owned by a company called Midtown Baltimore LLC. The company owes $1,206.46 on each unit.