The million-dollar brownstone that no one owned

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The million-dollar brownstone that no one owned

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2018 Aug 21, 7:25am 705 views 4 comments

https://theoutline.com/post/5807/the-million-dollar-brownstone-that-no-one-owned

On December 12, 2013, a three-story brick townhouse in a swank part of Brooklyn sold for $20,000. A mysterious organization called AOTA LLC bought it from a guy named Barrington Adrian, who had bought it 10 years before from Rosa Perez, a Puerto Rican lady, who had lived there for 30 years with her son Eddie, and still lived there when I moved in in 2011.

How could a house in a desirable neighborhood sell for less than the price of a parking space underneath a condo on the same block?

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NDrLoR 2018 Aug 21, 9:07am

Patrick says

How could a house in a desirable neighborhood sell for less than the price of a parking space underneath a condo on the same block?

"When I moved in in the fall of 2011, Rosa’s son Eddie asked if I could pay rent in cash. He also said “the lawyer” was writing up the lease, that it would be done soon. It never was"

That wasn't a clue?

tovarichpeter 2018 Aug 21, 10:56am

Great article!

RWSGFY 2018 Aug 21, 11:01am

So some fuckers in some warehouse in Boomfuck, Idaho are basically openly forging "chain of title" docs and getting away with it? What's the actual fuck?

Ceffer 2018 Aug 21, 11:14am

Cash under the table with a lowered tax base?

You see shady sales in Santa Cruz, way below market value. I always presumed that they were either relative to relative, or designed to keep the Prop 13 value intact for taxes with the new owner paying the old owner cash with a bonus in an unregistered transaction outside of the recorded deal. Maybe assessors aren't that aggressive in re-estimating sales values.

There is nothing that says that you have to have an 'official' sale at market value.

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The million-dollar brownstone that no one owned

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