Although having sold and closed over 60 other properties in Adelphia’s real estate portfolio, the LFC Group of Companies is auctioning this ‘crown jewel,’ once again, on its website LFC Online (www.LFC.com/715R2), as the original winning bidder/buyer has defaulted. The minimum bid for the property is $3 million, just a fraction of the $30 million value recorded on a recent appraisal document, ordered by the previous buyer.

Built in 2002, this striking 72,000-square-foot, three-story office building is complete with a fully-finished basement and 80,000 square feet of paved parking space. Its polished granite exterior is complemented by bronzed windows, a stunning concrete and granite stairway with decorative wrought iron railings and two massive granite pillars inviting guests to experience the corporate opulence within. At night, wall-wash and ground-recessed lighting illuminate the ornate exterior brickwork. The interior of the building boasts brass, bronze, granite, maple wood and parquet flooring and custom woodwork, including raised panel doors and wainscot, throughout. Just off of Route 6 connecting Coudersport to eastern and western Pennsylvania, the state-of-the-art building is fully-networked to house over 275 employees.

“It’s quite an ironic story actually,” comments Jack Ukropina, Senior Auction Manager. “After bidding closed the first time around, we had numerous investors and other interested buyers step forward with offers. They came to realize what a steal this property was and wanted to buy it, but by then, it was too late. Now their wish has come true. These prospective buyers have another chance, but they better move quickly as the bid deadline is approaching,” continues Ukropina.

With the bid deadline of February 14, 2008 about a week away, interested parties are urged to visit www.LFC.com/715R2 as soon as possible to register to bid, and ensure they have ample time to conduct their due diligence and schedule an appointment to view the property, if desired. This building must sell this time around, so don’t miss your last chance to own this ‘remaining icon of Adelphia’s empire’ for a fraction of its appraised replacement value.

Posted: 02|6|08 at 10:12 am. Filed under: US News.