A sprawling Greenwich Village townhouse once rented by rapper Travis Scott — and now listed for $22.5 million — has entered bankruptcy ahead of a scheduled foreclosure auction.
(Bloomberg) — A sprawling Greenwich Village townhouse once rented by rapper Travis Scott — and now listed for $22.5 million — has entered bankruptcy ahead of a scheduled foreclosure auction.
80 West Washington Place Real Estate Holdings LLC, the legal entity that owns the abode, filed for Chapter 11 protection on Tuesday. It disclosed liabilities of more than $20 million in court papers.
Sitting less than a block from Washington Square Park, the townhouse dates to the 1800s and was once owned by composer John Philip Sousa. Its more than 8,700 square feet holds six beds and eight baths, according to a listing from Compass. Other draws include a wine cellar, hot tub and private spa.
A mortgage lender sought to foreclose on the property in 2021, according to papers filed in New York state court. A foreclosure sale was scheduled for Wednesday. Chapter 11 can pause legal actions by imposing an automatic stay on all pending litigation.
The townhouse is currently available for rent as an event space, according to the entity’s attorney, Bruce Bronson. As a result of the filing, the foreclosure auction will not take place until the bankruptcy is either concluded or the stay is lifted, he added.
“I’m hopeful to have a successful reorganization or sale of the property in bankruptcy,” he said in a phone interview.
The bankruptcy is 80 West Washington Place Real Estate Holdings LLC, 23-11347, U.S. Bankruptcy Court for the Southern District of New York (Manhattan).
–With assistance from Jonathan Randles.
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