Dive bar requiem denied! Judge puts off Hank’s foreclosure auction

The Brooklyn Paper
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A Brooklyn judge blocked Hank’s Saloon from being sold at a foreclosure auction on Thursday — giving fans of the dive bar more time to indulge in cheap beer and country tunes.

Brooklyn Supreme Court Judge Sylvia Hinds-Radix has scheduled a hearing next month to determine whether the bank illegally took possession of the property.

Valley National Bank “failed to provide certain facts to the court to secure … a judgment of foreclosure,” Hinds-Radix wrote in her court order.

Hank’s regulars were heartbroken last week by our report that the dingy, century-old honky-tonk on Third and Atlantic avenues would be auctioned off by the bank.

The owners of the building, Emily Fisher and Rolf Grimsted, defaulted on their mortgage in 2008.

Grimsted told The Brooklyn Paper that when Valley National Bank took over his mortgage from his first lender — which was shut down by the federal government — it wouldn’t allow him to refinance.

Updated 5:25 pm, July 9, 2018
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Reasonable discourse

al pankin from downt says:
why don't the bar owners just pay what they owe and this wouldn't have to be another worthless article.
why is time and space wasted on these articles.
just pay what you owe !
it'd the American way.
July 30, 2011, 2:20 pm
Do-Ray 46 from Boerum Hill says:
Do-Ray 46, the actual owner, appreciates the opportunity provided by the court to be heard. In fact, there was no default when The Park Avenue Bank commenced foreclosure. Do-Ray 46 and its principals care very much about Boerum Hill, its businesses and residents, and appreciate your support and interest.
July 30, 2011, 4:37 pm
Lori says:
News is news and we all want to hear it! So I don't think any articles are a waste of time or space....don't read it if you don't like it.
July 30, 2011, 6:22 pm
hanks saloon says:
@al panken the bar owners have nothing to do with what's happening with the property.
July 31, 2011, 5:03 pm
NYCbrit says:
Do-Ray 46's claim to care about the the neighborhood is laughable in light of the fact that, when anxious to develop the site, he/she/they attempted to obtain a "hardship" zoning variance to build way more square footage than would normally be allowable despite having pulled out $4 million from Hank's site and two contiguous ones via mortgages that valued the assemblage at maybe 3 times its actual worth. Rather that local heros these guys (and the colluding banks) are symptomatic of our national economic train wreck.
Aug. 1, 2011, 12:10 pm
Do-Ray 46 from Boerum Hill says:
Do-Ray 46 again here, she/he/my/we/itself. NYCbrit, you're right. Do-Ray is not a local hero. And the relationship between this company and the Park Avenue Bank is symptomatic. But far from having "pulled out $4 million from Hank's site and two contiguous ones," at each purchase DoRay 46 put equity IN . And while he/she/they/we/it (Do-Ray 46) presented plans three years ago to develop the site with a building that would have required a zoning variance-- said hypothetical building still being smaller than the longstanding context of the next door Muhlenberg (the former Times-Plaza Hotel) and across the street YWCA and respectful of the district's architectural requirements in other respects --everyone was given an opportunity to say how much they objected to the plan at a community board hearing - and exercised said opportunity - except for maybe one person who said he kind of liked the idea of having the empty lot next door built on... No gardens were shaded, no eyes permanently offended, no zoning laws broken by the creation of the blue prints and architectural renderings.
Aug. 2, 2011, 10:23 pm

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