More Fun With Stanley and Bud: 2958 W North Avenue

Property Address: 2958 W North Avenue, Baltimore, MD 21216

Property Owner: Morwin Properties, LLC, 901 Stamford Road, Baltimore, MD 21229 (Charter has been forfeited, company is not in good standing.)

Resident Agent for Morwin Properties, LLC: Keshawn Moore, same address

City Council District and Contact:  District 7, Nick Mosby

State Senator: Catherine E. Pugh

State Delegates: Frank M. Conaway, Antonio L. Hayes. Barbara A. Robinson

2958 W North Avenue
2958 W North Avenue

This is an interesting case of what happens when a property transaction goes wrong from start to finish.

Keshawn Moore, under his LLC, purchased three properties from three different shell companies (UP8 Business Trust, NB4 Business Trust, and N10 Business Trust) controlled¬† by Stanley Rochkind and Charles “Bud” Runkles, including the property above. (The other two were 2100 Penrose, and 2731 W North Avenue.) Stanley’s shell companies issued the mortgage for each of the properties (see mortgage 1, mortgage 2, and mortgage 3 — links open PDFs of each mortgage document prepared by Stanley’s attorney, Brian Spern.)

Apparently Mr. Moore didn’t make timely payments on the mortgages, but instead of initiating foreclosure proceedings against him, the shell companies asked for a money judgement. In each case, the remaining balance of the mortgages, plus costs and fees, were awarded to the shell companies. (Circuit Court 24C15005730, 24C15005731, and 24C15005728.)

I suppose that’s one way of disposing of blighted property, but it also leaves Mr. Moore on the hook for the taxes and large monetary judgements, and ties up the properties in court for a period of time so they can’t be moved into receivership or otherwise disposed of. We have to remove barriers to effective property disposal, otherwise neighborhoods like this one will continue their dramatic decline.

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