LOUISVILLE, Ky. (WDRB) -- The 400 W. Market Street office tower in Louisville's Central Business District could have a new owner soon, as the building's lender plans to auction to the rights to $103 million in bad debt secured by the 35-story building.
The auction will be held in November with a minimum bid of $37.5 million, according to a listing by Newmark Knight Frank.
U.S. Bank, trustee for the lender in the building's 2004 sale for $128.5 million, filed a foreclosure in Jefferson Circuit Court last month to collect on the unpaid debt.
"This building is the most prestigious business address downtown and features a ‘Who’s-Who” of law and consulting firms as well as financial and technology companies," according to the auction listing.
The building, once known as the Aegon Center, is 80 percent leased, according to the auction listing. It was built in 1993 and renovated in 2017.
The building is currently owned by an affiliate of the 601W Companies, a New York firm that invests in office towers.
