Ledo shell on market again

The “Ledo” shell at 433 Mass Ave is on the market again. Last fall we heard that the property was sold at auction. It now appears (see image below) that the current owners have contracted Coldwell agent Charles York to find a buyer. An April 5th cache of a listing on Trulia suggests the asking price is $1,500,000.



A few steps away is the entrance to 425 Mass which Equity Residential will be leasing as apartments. Tours begin on April 8th.

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Comments

  1. 1

    MVTer says

    The Ledo building’s plywood has been breached yet again. There are clearly folks using the interior. The city needs to demolish this structure and stop leaving this eyesore on the street where it attracts crime.

  2. 2

    Tony says

    The continuing drama and saga with this property is just unbelievable! I certainly hope it ends soon! With so many other good things in the MVT development pipeline, I don’t imagine that this will sit vacant for much longer. With Buddha Bar just weeks from opening and 425 Mass. Ave. about to deliver as rentals, I don’t see how Coldwell even had a moment to put up a sign. Seems like this property shoulda/woulda been bought/sold behind the scenes already. Maybe wishful thinking on my part, though, with many banks still holding on tight to their loan monies.

  3. 3

    FourthandEye says

    Turns out that although this property was auctioned in October the transaction went awry due to pending litigation. The Spriggs family still owns the property and have contracted Coldwell to find a buyer.

    With the condition the property is in and it’s modest size the $1.5 million would seem highly unattainable.

  4. 5

    Tony says

    You are KIDDING me that they still own this property! Unbelievable! They are basically trying to sell it now at/around the price that the developer originally offered them when the Dumont was being planned/built. Yeah, good luck to them with that, indeed! At this point, they need to take what they can get and go away quietly, because the neighborhood has grown quite tired of this eyesore.

  5. 6

    tom veil says

    I look forward to the real estate ads:
    PRIME LOCATION! Tired of paying $500k for 2-bedroom condos with dated features such as “doormen”, “common areas”, “parking”, “plumbing”, and “windows”? But still want that whole “everyone in that office building can see into my bedroom through the holes in my roof” cachet? Want people to keep opening your front door and asking where they can get a pizza? Only $1.25M! Going fast!

  6. 8

    says

    why this $hitbox hasnt gone the way of the tax sale and foreclosure once & for all is beyond me. they owe over 50K. The city needs to classify is “blighted” according to the new convoluted rules and start enforcing…something! reporting the open access to MPD.

  7. 9

    Tony says

    @Si… INDEED! I’m listening to Mayor Fenty on NPR (Kojo) right now. I feel like calling in to the show and asking him why the city acts so SLACK A$$ regarding all of the vacant/abandoned properties throughout the city. They shoulda flushed the toilet on this a long time ago!

  8. 10

    FourthandEye says

    Fenty is far from perfect. All politicians are. Do we honestly think if Linda Cropp was elected instead of Fenty that the district would be in a better position right now? I don’t.

    I guess my point is keep an open mind with Fenty vs Gray. Just because Gray is not Fenty doesn’t assure he’d be better Mayor than Fenty. We can certainly regress if we make the wrong choice.

  9. 11

    Tony says

    I definitely agree and my call wouldn’t have been to bash him in any way. I just think the question would have been an appropriate to ask either way.