The Pie property at 214 N. Lombardy St. is set for foreclosure next week. Photo by Michael Schwartz.
A restaurant property in the Fan could soon be under new ownership.
The Pie restaurant space at 214 N. Lombardy is scheduled to be sold in a foreclosure auction next week.
The building, which also includes two apartment units, is owned by JTB Fan LLC, an entity managed by Pie owner Mo Roman.
The foreclosure is a result of JTB Fan’s default on a loan issued on the property in 2007.
Steve Goodwin, an attorney representing Roman, said Pie will remain open despite the pending foreclosure auction.
“We’re working with the bank to smoothly transition the property,” Goodwin said. “It’s not going to affect the businesses.”
Roman could not be reached for comment.
In addition to the foreclosure auction, the property is also listed for traditional sale with Joyner Commercial and agent David Feibish.
JTB Fan LLC bought the property in 2007 for $645,000, according to city records. The two apartments use an alternate address of 1601 Hanover Ave. The property was previously owned by the late Robert A. DeCapri, who ran Caffe di Pagliacci in the building.
The LLC’s loan on the building was originally issued by Resource Bank, which is now part of Fulton Bank. The loan, which matured in June of this year, was initially for $416,500 and was modified in 2008 up to $537,000.
The loan was guaranteed by Roman, his wife Amy and Buffalo Mo’s Tap & Grill, a Stafford, Va. restaurant owned by Mo Roman.
The Pennsylvania-based bank won a confession of judgment from the Romans and Buffalo Mo’s on the loan in Richmond Circuit Court for $577,066 last month.
Goodwin said the judgment will be satisfied when the Lombardy Street property is sold.
The auction is scheduled for 1:15 p.m. on Nov. 18 on the steps of the Richmond Circuit Court building.
While Pie approaches a foreclosure auction, Goodwin and Amy Roman are getting a new restaurant up and running in Rocketts Landing. Their new concept Mbargo took over the former M Bistro space at 4821 Old Main St. and opened last month.
The Pie property at 214 N. Lombardy St. is set for foreclosure next week. Photo by Michael Schwartz.
A restaurant property in the Fan could soon be under new ownership.
The Pie restaurant space at 214 N. Lombardy is scheduled to be sold in a foreclosure auction next week.
The building, which also includes two apartment units, is owned by JTB Fan LLC, an entity managed by Pie owner Mo Roman.
The foreclosure is a result of JTB Fan’s default on a loan issued on the property in 2007.
Steve Goodwin, an attorney representing Roman, said Pie will remain open despite the pending foreclosure auction.
“We’re working with the bank to smoothly transition the property,” Goodwin said. “It’s not going to affect the businesses.”
Roman could not be reached for comment.
In addition to the foreclosure auction, the property is also listed for traditional sale with Joyner Commercial and agent David Feibish.
JTB Fan LLC bought the property in 2007 for $645,000, according to city records. The two apartments use an alternate address of 1601 Hanover Ave. The property was previously owned by the late Robert A. DeCapri, who ran Caffe di Pagliacci in the building.
The LLC’s loan on the building was originally issued by Resource Bank, which is now part of Fulton Bank. The loan, which matured in June of this year, was initially for $416,500 and was modified in 2008 up to $537,000.
The loan was guaranteed by Roman, his wife Amy and Buffalo Mo’s Tap & Grill, a Stafford, Va. restaurant owned by Mo Roman.
The Pennsylvania-based bank won a confession of judgment from the Romans and Buffalo Mo’s on the loan in Richmond Circuit Court for $577,066 last month.
Goodwin said the judgment will be satisfied when the Lombardy Street property is sold.
The auction is scheduled for 1:15 p.m. on Nov. 18 on the steps of the Richmond Circuit Court building.
While Pie approaches a foreclosure auction, Goodwin and Amy Roman are getting a new restaurant up and running in Rocketts Landing. Their new concept Mbargo took over the former M Bistro space at 4821 Old Main St. and opened last month.