Thursday, September 03, 2015
Current Weather
Loading Current Weather....
Published: Thursday, 6/27/2013

Second auction of Spitzer Building postponed

Former owner files for bankruptcy protection in Calif. court


A second auction for downtown Toledo’s Spitzer Building was postponed this morning after the building’s former owner filed for bankruptcy protection in a California court.

The 107-year-old Spitzer Building, at 520 Madison Ave., has been in foreclosure since January, 2011. Today was set to be the second and final Lucas County Sheriff’s auction. An auction earlier this month drew no bids.

However, the auction was canceled because of the bankruptcy filing of EPE Spitzer Building, a California-based private equity firm that purchased the Spitzer Building in 2009.

Attorney Scott Ciolek, who represents the building’s court-appointed receiver, said the filing is another attempt to delay the sale by Koray Ergur, the man who owns the private equity firm.

Mr. Ciolek said the building will continue operating as it has for the time being. He hopes to have the filing dismissed and be able to move forward with the auction in the next couple of weeks.

Recommended for You

Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. If a comment violates these standards or our privacy statement or visitor's agreement, click the "X" in the upper right corner of the comment box to report abuse. To post comments, you must be a Facebook member. To find out more, please visit the FAQ.

Related stories