The owners of Hartford’s Bushnell on the Park, the horseshoe-shaped downtown residential landmark, say they have stopped making payments in an attempt to renegotiate the mortgage.
The result is the 31-year-old property is on track toward a foreclosure, court documents show.
Waterbury-based Bushnell Regency, which bought Bushnell on the Park in 2002 for $15.6 million, has failed to make payments from November 2008 to at least July 7, on a mortgage for “129 condominium units and 166 parking spaces in the larger 180-unit complex,” according to a complaint filed in Hartford court.
The property under litigation is used for rental apartments and office space and as of May 31, Bushnell Regency owed at least $14.5 million, the complaint said. Read the full story in the upcoming edition of the Hartford Business Journal that appears online beginning Sunday.
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