Auctions are continuing this week on a chunk of embattled businessman Michael Hild’s portfolio of Manchester properties.
Originally scheduled to take place Tuesday at The Westin Richmond hotel, the government-approved auction of six of Hild’s holdings on the Southside are currently taking place online through auction house Tranzon Fox and local brokerage Thalhimer.
The online auction is the third in a series that federal prosecutors have approved since Hild pleaded not guilty last summer to criminal fraud charges related to his now-defunct company Live Well Financial.
Bids are currently being accepted online for the following properties:
- + 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 bulk were initially set for a live in-person auction earlier this month, but the late addition of the former SunTrust Bank building at 1518 Hull St. pushed the auction to this week. Tranzon Fox partner Bill Londrey said the firm decided to make the auction online-only a few weeks ago in the wake of the coronavirus pandemic.
The 1518 Hull St. property came back into the fold after initially going under contract at the first auction of Hild’s properties in late 2019. Local developer Josh Bilder made the winning bid on the 13,200-square-foot bank building, along with four adjacent lots at 6, 8, 10 and 12 E. 16th St. for $1.65 million.
However, the deal never closed.
Bilder had been planning to complete the concept Hild first imagined for the site: building a 55-unit apartment building on the adjacent lots and converting the bank into 14 apartments.
Bilder’s no stranger to complicated historic renovations, namely in Church Hill where his firm Sterling Bilder renovated both the East End Theater and Nolde Garage. But he said he had to punt on the Hull Street bank project.
“The more I got into it, the more I realized it was too complicated. I’m pretty much a one-man show and all my energy would’ve gone to that,” Bilder said. “I think it’s a great project for whoever could do it, but unfortunately I wasn’t able to. I’d have loved to; it’s a great property.”
The auction on the SunTrust building and its surrounding parcels is set to wrap up today (Tuesday) at 11 a.m. As of press time there were no bids on the offering, per Tranzon Fox’s website.
The auction on the other properties, mostly individual lots, will end April 1 at 3 p.m. A bid of $386,000 has been placed on the package of five offerings as of press time. However, offers on the individual lots will get priority.
Bilder said he’s not likely to be bidding on anything this time around.
“I’ll wait for them to come to me,” he said, laughing. “I’m not going to any auctions anytime soon. Unless it’s a great deal.”