While was the infamous seven-bedroom home at 224 Sea Cliff Avenue , which was on the market for $19.675 million back 2016 , appeared to have sold for $71,000 in a foreclosure auction last year, the “winning” bidder didn’t realize that the foreclosing party was a junior lender and the property would have come with around $17 million in senior debt and liens still attached to its deed .
The trustee sale was subsequently voided, which is a rarity, and the deed to 224 Sea Cliff ended up being taken back by the junior lender last August when a “do over” auction failed to generate another “winning” bid, a transfer that might appear as a “$50,000 sale” elsewhere.
Quickly “cleaned up” as pictured above, 224 Sea Cliff returned to the market listed as a “beautiful blank canvas ready for renovation,” with “HUGE potential,” for $17.5 million this past September but hasn’t sold.
And with a new notice of default having been filed by one the senior lien holders a few months ago, 224 Sea Cliff Avenue, which includes a private walkway down to a secluded beach cove below, is now slated to be foreclosed upon again next month . We’ll keep you posted and plugged-in.
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