The six-story downtown office building at 179 Allyn St. that is home to Black Bear Saloon and night club NV is headed to the auction block with a $1.5 million opening bid following a foreclosure, authorities say.
New York auctioneer firm Sheldon Good & Co. announced Thursday it is auctioning off the 70,000-square foot-building for a minimum bid of $1.5 million.
Bids are due by Nov. 14, Sheldon Good said.
The property recently was foreclosed by its lender after the building’s former owner, who could not be immediately identified Thursday, failed to make good on a $4.2 million mortgage, the auctioneer said.
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Built in 1884, it currently has a paltry 23 percent occupancy rate, counting its restaurant and club tenants.
