July 27th, 2010
Damon Dash’s Tribeca Lofts – Foreclosure
Damon Dash took out a $7.3 million loan a while back to finance the purchasing of 2 Tribeca lofts: one at 72 Laight Street and another at 25 North Moore Street. He ran into money problems when he stopped paying his $78,504.20 per month mortgage and his $2,227/month common charge. He tried to sell his 25 North Moore unit for $7.9 million, which he had previously purchased for $3.875 million in 2004. Unfortunately, he was unable to sell it and is now scheduled for foreclosure auction.
His other loft at 79 Laight Street, the Sugar Warehouse, is also headed for foreclosure auction. He purchased it in March 2004 for $1,807,394 and tried to sell it recently for $5 million. Unable to sell it, he chopped the price down to $3.65 million.
