More of the Southside properties tied to embattled local businessman Michael Hild are headed to the auction block, just as many of the sales from a previous auction have started to close.
Auction house Tranzon Fox will begin an online-only auction on March 2 for 13 properties owned by entities tied to Hild and his wife Laura Dyer Hild.
Many of the properties are surrounding the former Siegel’s Supermarket site at 2005 Hull St., which the Hilds own and had rezoned last summer to allow for mixed-use development. The vacant supermarket property itself is not up for auction, though.
The five offerings headed to auction are:
- + 16, 18, 20 W. 19th St. and 9, 13, 17, 19, 21 W. 20th St.
- + 1917 Hull St.
- + 12 W. 19th St.
- + 1900 Bainbridge St. and 22 W. 19th St.
- + 1906 Bainbridge St.
The auction will end at 10:30 a.m. on March 4.
The auction – and a similar one held in December – was authorized by federal prosecutors handling the criminal case against Michael Hild, who faces charges of fraud related to an alleged bond scheme at his collapsed reverse mortgage company Live Well Financial.
The December auction drew the interest of both local and out-of-town developers, and many of those deals have closed in the last week or two.
Most notably was the sale of the former Lighthouse Diner at 1228 Hull St. for $346,500. The Hilds bought it for $285,000 in 2018. The buyer was unknown at the December auction, but city property records show it as Maryland-based entity Hull Street Properties LLC.
Shakil Haider Siddiqui, the registered agent of Hull Street Properties in Maryland, could not be reached for comment. The entity is not related to the Virginia-registered entity of the same name.
Meanwhile Hani Atallah, who co-owns a handful of local bars, including District 5, Southern Railway Taphouse, The Annex and the forthcoming Prince George brewery Holy Mackerel, bought the auctioned properties at 1814 and 1812 Hull St. for $198,000, and 1201 Decatur St. for $159,500.
Atallah said they have no immediate plans for the properties.
“We’re just going to sit on them for a minute,” Atallah said. “They were both great deals, with all the infrastructure that’s going into the neighborhood. We felt like it might be something we might want to tackle a couple years down the road.”
Five other deals from the December auction have closed since late January, per city property records:
- + 1228 Hull St., which sold for $556,600 to Kairos Mission LLC, an entity tied to Glen Allen-based American Eagle Investments.
- + 1910 Hull St., which sold for $225,500 to Damok LLC, an entity tied to Daniel Moreka
+ 1427 Hull St., which sold for $462,000 to Beres Investments LLC, an entity tied to Kevin J. Beres
+ 1703, 1715 and 1717 Maury St., which sold for $88,000 to Win-Win Homes, a NoVa-based realtor.
+ 223 E. 15th St., which sold for $45,100 to Chester-based CMF Property & Leasing LLC.
Two properties from the December auction have yet to close: 1129 Hull St., which was bought for $750,000 at auction by Don Jones of Chesterfield’s Jones Homes Custom Building; and 1518 Hull St., which local developer Josh Bilder won at auction with a bid of $1.65 million.
The Hilds had amassed dozens of properties in recent years, primarily in the Manchester, Blackwell and Swansboro neighborhoods, with plans to redevelop them.
That was in the years prior to Michael’s legal issues, which came to a head last year. He has pleaded not guilty and remains free on a $500,000 bond. A trial is set for October 2020 in Manhattan.
Laura is not party to any of the legal cases and is not facing any charges.
The various entities controlled by the Hilds have since sought and received permission from the federal government to sell certain properties in accordance with a post-indictment restraining order put in place to preserve assets owned directly and indirectly by Hild while his case plays out.
Proceeds from the first auction were to be held in escrow until the conclusion of the case. That is not the case with this second auction.