Union Street Building — Stone’s Throw From Shuffleboard Club — In Sheriff’s Auction Wednesday

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It looks like notable real estate character James McGown — known for closing Brooklyn’s oldest bar and filing Chapter 11 bankruptcy at least six times since 2009, among other things — is losing a building at 555 Union Street, just a stone’s throw from the Ample Hills Creamery and Royal Palms Shuffleboard Club. A tipster wrote-in:

“I know that George and Jim McGown (McGowan, McGowen) always drum up good conversations on the real estate blogs, most recently with their privately held auction on March 27, 2015 that seemed to be selling over a dozen prime properties but nothing actually sold.

There is currently a Sheriff’s Sale being held on July 8, 2015 at 1030am in the Kings County Sheriff’s Office, Brooklyn, New York on the property located at 555 Union Street.

This sale was previously advertised in the Daily News however McGown filed an Order to Show Cause which was inevitably lost. Since then the sale has been rescheduled.

Whats good about the Sheriff Sale as opposed to the privately held auction is that the winning bid will (more than likely) be more than the current debt and therefore the successful bidder should own the property free and clear.”

Any takers?

McGown Coverage [Brownstoner]
James McGown buys, bankrupts and bruises [Crain’s]

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