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.
Reader MS writes: “You can see the orange condemned sign on the porch. Says condemned 2012. It is almost across from the Towanda Rec Center and Creative City Charter. Wish it could get cleaned up with all the kids around.”
I have to agree — I often wonder how much damage is being done to kids who have to go to school, live, and play around so much blight. This home was flipped three times, all between different entities controlled by Stanley Rochkind.
This is one of those blocks where every house is at some stage of abandonment. Some have been empty for years, others were being rehabbed and then were discarded, others were abandoned for whatever reason — whatever the cause, the whole block is empty on both sides of the street.
As with many West Baltimore neighborhoods, you’ll see a familiar mix of slumlords, the City, and random people, many of whom are deceased.