Foreclosure filed on downtown Louisville apartment tower - WDRB 41 Louisville News

Foreclosure filed on downtown Louisville apartment tower

Updated: Jun 10, 2014 07:00 AM
LOUISVILLE, Ky. (WDRB) -- The Barrington Place, a 17-story apartment tower at Third and Guthrie streets in downtown Louisville, is the target of a foreclosure lawsuit filed in U.S. District Court in Louisville.

The building’s owners have not kept up with payments on a $4.2 million mortgage taken out in 2003 and owe $3.4 million as of April, according to the suit filed Friday by U.S. Bank on behalf of the commercial real estate trust that owns the note.

The tower, at 537 S. Third St., is owned by a Missouri company called Barrington Place LLC involving Jon M. Pyzyk and Debra J. Pyzyk of St. Louis, according to records filed in court.

Jeffrey Gershman, a St. Louis lawyer representing Barrington Place, said it's the company's "intention and expectation that the lender will be paid in full." He declined to say anything else.

In 2003, the 218-unit building won an award for a renovation that “included exterior repair of masonry and windows, and upgrading of each unit,” according to The Courier-Journal.

The Trinity Temple Methodist Church built it in 1962 as Trinity Towers, a mix of church facilities and residential units “representing a new experiment in living,” according to the Encyclopedia of Louisville.

The church sold the building to its current owner for $1.3 million in 2001, according to a county clerk deed. 

U.S. Bank has asked the court to appoint a third party to manage the property and to order it to be sold at a court auction to repay the debt. The building's assessment for tax purposes is $6.9 million.

Copyright 2014 WDRB News. All rights reserved.
  • Stories by Chris OttsMore>>

  • University of Louisville board chairman committed to 'closed' search for next president

    University of Louisville board chairman committed to 'closed' search for next president

    Monday, November 20 2017 5:24 PM EST2017-11-20 22:24:54 GMT
    U of L trustees chairman David Grissom, right, and interim President Greg Postel. Nov. 20, 2017U of L trustees chairman David Grissom, right, and interim President Greg Postel. Nov. 20, 2017

    The chairman of the University of Louisville board of trustees said the board is committed to conducting a “closed” search in which finalists for the next president of the university will not be made public -- over the objection of many faculty and staff members and students.

    More >>

    The chairman of the University of Louisville board of trustees said the board is committed to conducting a “closed” search in which finalists for the next president of the university will not be made public -- over the objection of many faculty and staff members and students.

    More >>
  • Beshear: Too soon to say whether taxpayer-funded aluminum company is a 'public agency'

    Beshear: Too soon to say whether taxpayer-funded aluminum company is a 'public agency'

    Monday, November 20 2017 10:58 AM EST2017-11-20 15:58:30 GMT
    Craig Bouchard, CEO of Braidy Industries Inc., speaks to the Louisville Rotary Club on Nov. 9, 2017.Craig Bouchard, CEO of Braidy Industries Inc., speaks to the Louisville Rotary Club on Nov. 9, 2017.

    It’s too soon to determine whether Braidy Industries, the aluminum manufacturing company in which Kentucky taxpayers are a big shareholder, is a “public agency” that must disclose its records like state and local government.

    More >>

    It’s too soon to determine whether Braidy Industries, the aluminum manufacturing company in which Kentucky taxpayers are a big shareholder, is a “public agency” that must disclose its records like state and local government.

    More >>
  • Now making money on Obamacare, Humana still plans to quit exchanges

    Now making money on Obamacare, Humana still plans to quit exchanges

    Friday, November 17 2017 1:46 PM EST2017-11-17 18:46:53 GMT
    Louisville-based Humana is unexpectedly making money on Obamacare exchange plans this year, company reports show.Louisville-based Humana is unexpectedly making money on Obamacare exchange plans this year, company reports show.

    Louisville-based Humana isn’t budging from its promise to stop selling individual plans in the Obamacare health insurance exchanges -- once and for all – in 2018. There’s only one problem: Humana is finally making money on the plans.

    More >>

    Louisville-based Humana isn’t budging from its promise to stop selling individual plans in the Obamacare health insurance exchanges -- once and for all – in 2018. There’s only one problem: Humana is finally making money on the plans.

    More >>
Powered by Frankly
All content © Copyright 2000 - 2017 WDRB. All Rights Reserved. For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices.