Eviction Coming for Broken Angel's Arthur Wood
We may be nearing the end of the long, sad history of the Broken Angel building in Clinton Hill. Today The Local reports that building lender Madison Realty Capital now owns Broken Angel, once envisioned as an artist community, and the vacant side lot. Owner Arthur Wood first filed a lawsuit against Madison Realty in…
We may be nearing the end of the long, sad history of the Broken Angel building in Clinton Hill. Today The Local reports that building lender Madison Realty Capital now owns Broken Angel, once envisioned as an artist community, and the vacant side lot. Owner Arthur Wood first filed a lawsuit against Madison Realty in 2009 after Wood and his development partner defaulted on a $4 million mortgage and Madison Realty initiated foreclosure proceedings. There were no other bidders at the auction, which was briefly delayed after efforts by Wood. The bank has not yet moved to evict Wood but he believes it’s imminent. He’s also tried to appeal to the US Supreme Court and his case was denied. Wood owned the building since the early 70s, but his wife’s death, a fire, the subsequent costly building repairs, and a failed development plan led to this endpoint.
Arthur Wood Awaits Sheriff to Evict Him from Broken Angel [The Local]
Broken Angel Foreclosure Case Delayed [Brownstoner]
Broken Angel is Officially Broke [Brownstoner]
i think we’ve heard the last of this guy. or at least i hope we have.
This was awesomely eccentric when it had all the craziness up top. Now, sadly, no longer inspires. I still love looking at the old pix like the ones at http://laughingsquid.com/help-save-brooklyns-broken-angel/
Ok- I thought you knew a bit more. I’m very curious and I feel very bad for Arthur.
oh mm, you have such a bleeding heart.
Montrose, do you know what happened to the 4 million? (I’ve seen other figures cited) I remember a thread in which you defended the development partner. If the project never got off the ground, why does Arthur owe money? It seems like it must have been the partner who took the cash. I think they’re equally responsible, right?
Minard, so you’d rather read countless stories of multi-million dollar horse trading of lavish townhouses, day in, day out?
That’s what I’d like to know. The project never got off the ground.
dangerous?
yer jaded.