Will Whittle be around next year?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Is the building sold? Was the auction delayed or canceled? The auction is not listed on the auctioneer's site.

Link to auction site?

https://realestate.alexcooper.com/foreclosures

They were named as the auctioneer in the WBJ article but there is no active listing on their site -- so maybe someone did a one-off deal with the bank?

As I understand it, foreclosure auctions require potential bidders to pre-qualify for the bidding. There would be a deadline to register for that, and the provide documentation of ability to pay some reserve amount (perhaps the amount remaining on the mortgage). If nobody shows up by the deadline to submit their finances, you can just cancel the auction.
Would guess that is what happened here, given what a White Elephant this building is. Also possible that a different auctioneer is being used and we don't see that one online.
The pre-qualification makes perfect sense. Otherwise, CW himself could show up at the auction, outbid everyone, and then say .... what he always says ... the money is coming! just got to finalize the finalmost last bits on it, but the money is dying to get here.

So who is the lender here? Some bank? The building will become REO, as they say.

The filing with the DC Recorder of Deeds indicated the principal lender is Axonic Capital, although the original lender was Ladder Capital. Presumably Axonic bought the non performing loan for less than face value during the pandemic? But yes, the building is a White Elephant and has been for a long time - long before Whittle showed up.

Ax Capital?!

https://www.axoniccap.com/

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Is the building sold? Was the auction delayed or canceled? The auction is not listed on the auctioneer's site.

Link to auction site?

https://realestate.alexcooper.com/foreclosures

They were named as the auctioneer in the WBJ article but there is no active listing on their site -- so maybe someone did a one-off deal with the bank?

As I understand it, foreclosure auctions require potential bidders to pre-qualify for the bidding. There would be a deadline to register for that, and the provide documentation of ability to pay some reserve amount (perhaps the amount remaining on the mortgage). If nobody shows up by the deadline to submit their finances, you can just cancel the auction.
Would guess that is what happened here, given what a White Elephant this building is. Also possible that a different auctioneer is being used and we don't see that one online.
The pre-qualification makes perfect sense. Otherwise, CW himself could show up at the auction, outbid everyone, and then say .... what he always says ... the money is coming! just got to finalize the finalmost last bits on it, but the money is dying to get here.

So who is the lender here? Some bank? The building will become REO, as they say.

The filing with the DC Recorder of Deeds indicated the principal lender is Axonic Capital, although the original lender was Ladder Capital. Presumably Axonic bought the non performing loan for less than face value during the pandemic? But yes, the building is a White Elephant and has been for a long time - long before Whittle showed up.

Ax Capital?!

Even Bobby Axelrod wouldn't dare make such a risky investment.

[Anonymous]

Anonymous wrote:What is the current status of the school? Are kids still attending?

They're still on spring break until Monday.

Yes, I'm wondering if they still have a school to go back to next week. I assume there will be another "the money is within reach" missive coming soon.

Or maybe CW has ducked the country by now? Does anyone even know where he is while everything is burning down? He could be sending his emails from, I don't know, Russia maybe?

[Anonymous]

Anonymous wrote:

Anonymous wrote:What is the current status of the school? Are kids still attending?

They're still on spring break until Monday.

Yes, I'm wondering if they still have a school to go back to next week. I assume there will be another "the money is within reach" missive coming soon.

Or maybe CW has ducked the country by now? Does anyone even know where he is while everything is burning down? He could be sending his emails from, I don't know, Russia maybe?

School seems to still be operational even though on a 2 week spring break.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:What is the current status of the school? Are kids still attending?

They're still on spring break until Monday.

Yes, I'm wondering if they still have a school to go back to next week. I assume there will be another "the money is within reach" missive coming soon.

Or maybe CW has ducked the country by now? Does anyone even know where he is while everything is burning down? He could be sending his emails from, I don't know, Russia maybe?

School seems to still be operational even though on a 2 week spring break.

TWO WEEK SPRING BREAK, RUKM?

[Anonymous]

Anonymous wrote:

Anonymous wrote:What is the current status of the school? Are kids still attending?

They're still on spring break until Monday.

Yes, I'm wondering if they still have a school to go back to next week. I assume there will be another "the money is within reach" missive coming soon.

Or maybe CW has ducked the country by now? Does anyone even know where he is while everything is burning down? He could be sending his emails from, I don't know, Russia maybe?

Maybe he’s at Mar-a-Lago!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:What is the current status of the school? Are kids still attending?

They're still on spring break until Monday.

Yes, I'm wondering if they still have a school to go back to next week. I assume there will be another "the money is within reach" missive coming soon.

Or maybe CW has ducked the country by now? Does anyone even know where he is while everything is burning down? He could be sending his emails from, I don't know, Russia maybe?

School seems to still be operational even though on a 2 week spring break.

TWO WEEK SPRING BREAK, RUKM?

Will turn into an endless spring break!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:What is the current status of the school? Are kids still attending?

They're still on spring break until Monday.

Yes, I'm wondering if they still have a school to go back to next week. I assume there will be another "the money is within reach" missive coming soon.

Or maybe CW has ducked the country by now? Does anyone even know where he is while everything is burning down? He could be sending his emails from, I don't know, Russia maybe?

School seems to still be operational even though on a 2 week spring break.

TWO WEEK SPRING BREAK, RUKM?

I grew up in New England and all the private schools in our area always had, and continue to have, a two week spring break. I miss it.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Is the building sold? Was the auction delayed or canceled? The auction is not listed on the auctioneer's site.

Link to auction site?

https://realestate.alexcooper.com/foreclosures

They were named as the auctioneer in the WBJ article but there is no active listing on their site -- so maybe someone did a one-off deal with the bank?

As I understand it, foreclosure auctions require potential bidders to pre-qualify for the bidding. There would be a deadline to register for that, and the provide documentation of ability to pay some reserve amount (perhaps the amount remaining on the mortgage). If nobody shows up by the deadline to submit their finances, you can just cancel the auction.
Would guess that is what happened here, given what a White Elephant this building is. Also possible that a different auctioneer is being used and we don't see that one online.
The pre-qualification makes perfect sense. Otherwise, CW himself could show up at the auction, outbid everyone, and then say .... what he always says ... the money is coming! just got to finalize the finalmost last bits on it, but the money is dying to get here.

So who is the lender here? Some bank? The building will become REO, as they say.

The filing with the DC Recorder of Deeds indicated the principal lender is Axonic Capital, although the original lender was Ladder Capital. Presumably Axonic bought the non performing loan for less than face value during the pandemic? But yes, the building is a White Elephant and has been for a long time - long before Whittle showed up.

Ax Capital?!

Even Bobby Axelrod wouldn't dare make such a risky investment.

Their capital is about to get the axe!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:What is the current status of the school? Are kids still attending?

They're still on spring break until Monday.

Yes, I'm wondering if they still have a school to go back to next week. I assume there will be another "the money is within reach" missive coming soon.

Or maybe CW has ducked the country by now? Does anyone even know where he is while everything is burning down? He could be sending his emails from, I don't know, Russia maybe?

Maybe he’s at Mar-a-Lago!

CW is reportedly holed up at a rental home in CT after being unceremoniously evicted from the Hamptons house. It will be interesting if he comes down to DC to face the music. His track record would suggest not since he typically scurries off with bags of cash for himself before his schemes come crashing down. Hard to see him extracting any cash here. That fact is probably what causes him more angst than anything else. I doubt he cares two bits for the kids, their families or the faculty & staff. Actually I'm certain he doesn't care at all

[Anonymous]

Some good news, they upped their security, and looks like there are even some officers who originally left that are now back!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:What is the current status of the school? Are kids still attending?

They're still on spring break until Monday.

Yes, I'm wondering if they still have a school to go back to next week. I assume there will be another "the money is within reach" missive coming soon.

Or maybe CW has ducked the country by now? Does anyone even know where he is while everything is burning down? He could be sending his emails from, I don't know, Russia maybe?

School seems to still be operational even though on a 2 week spring break.

TWO WEEK SPRING BREAK, RUKM?

I grew up in New England and all the private schools in our area always had, and continue to have, a two week spring break. I miss it.

We had three weeks for spring break at our private school in New England this year. I was told it is usually four weeks, the entire month of March (understandable), but they shortened it this year due to COVID regulations keeping a lot of the foreign students from going back to their home countries.

[Anonymous]

Anonymous wrote:Some good news, they upped their security, and looks like there are even some officers who originally left that are now back!

Yay?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Some good news, they upped their security, and looks like there are even some officers who originally left that are now back!

Yay?

Was security a problem before?

[Anonymous]

Soooooo....we still don't know if they will be opening in the fall?