Approved for the development of 56 new housing units, 23,000 square feet of commercial space, and an open-air market, the Outer Parkside block fronting Sloat Boulevard between 46th and 47th Avenues had fallen into foreclosure on $4,220,000 loan.
As we first reported at the beginning of the year:
While the parcels upon which the Aqua Surf Shop, John’s Ocean Beach Café and Robert’s Motel currently sit between 46th and 47th Avenues were scheduled to hit the courthouse steps last week, a bankruptcy filing has postponed the auction until at least tomorrow and most likely for many more weeks, or months, to come.
And as a plugged-in reader notes, the entire debt has just been paid. We’ll keep you plugged-in with respect to the development(s) for the block as rendered below: