La Renaissance Owners Get Reprieve On Foreclosure Auction

by Categorized: Uncategorized Date:

The owners of the former La Renaissance Banquet & Conference Center have bought at least another two weeks before the East Windsor property goes to a foreclosure auction.

The owners of the La Renaissance Banquet & Conference Center  have won another delay in a foreclosure auction. Photo by Garret Alison/FoxCT

The owners of the La Renaissance Banquet & Conference Center have won another delay in a foreclosure auction. Photo by Garret Alison/FoxCT

A Superior Court judge has pushed the auction date back from Saturday to Aug.3, the second delay granted since an auction was first ordered for April. The owners have maintained there is interest from a potential buyer.

See my previous post on the La Renaissance foreclosure.

Gus Constantine, a Glastonbury lawyer overseeing the auction, said the owners are expected to be in court next week seeking another extension.

Court documents show owner Dharamschi LLC paid $5.1 million for the property at 53-59 Prospect Hill Road in 2007. It fell into foreclosure in June, 2012, the documents show.

The most recent asking price for the property is $3.97 million. An appraisal last fall by the foreclosing lender, People’s United Bank, pegged the value at $3.3 million.

The Courant is using Facebook comments on stories. To comment on courant.com articles, sign into Facebook and enter your comment in the field below. Comments will appear in your Facebook News Feed unless you choose otherwise. To report spam or abuse, click the X next to the comment. For guidelines on commenting, click here.