March 12, 20241 yr This article ('High Profile Developers Face Foreclosure on Euclid Apartments') is about the same people who are behind the Rockefeller and Ohio Bell Building rehabs. Prospects aren't looking great, according to Stan Bullard. https://www.crainscleveland.com/real-estate/pintus-wolfe-developers-hit-foreclosure-euclid-apartments Remember: It's the Year of the Snake
March 21, 20241 yr Rockefeller Building owner snags lawsuit for unpaid bill STAN BULLARD March 21, 2024 Quote Flexing the ability of construction contractors to try to protect themselves and recoup unpaid bills when a development gets funded or sold, Comprehensive Zoning Services of Cleveland has sued Rockefeller Building Associates to collect on a bill for boarding up the downtown landmark. Comprehensive Zoning filed suit on March 15 in Cuyahoga County Court of Common Pleas to collect $62,569 from the building's owners for performing the service of putting plywood on storefronts on West Superior Avenue and West Sixth Street side of the building and an attached parking garage on Frankfort Avenue. ... Rockefeller Building Associates, in its latest partnership incarnation, has owned the building since 2020. Pintus and Wolfe Investments of Dallas acquired the property for a proposed conversion to apartments from office space. According to the Cleveland building department and county land records, the Rockefeller remake has not secured funding or begun work. https://www.crainscleveland.com/real-estate/owner-downtown-clevelands-rockefeller-building-sued-unpaid-bill
March 21, 20241 yr 8 minutes ago, mrclifton88 said: Doesn't sound like this project is moving forward anytime soon... 😑 Or at all unless it is sold to another developer....there might be hope in that regard...remember the trials and tribulations of the Euclid Grand before it was finally rehabbed.
March 21, 20241 yr I'm thinking if a developer is having trouble paying for plywood to cover some windows they aren't going to be in a position to pay for actual re-construction. Christ, l probably have more in my bank account than this company. And you call yourself a developer? Embarrassing
March 21, 20241 yr Author It is embarrassing, but far from hopeless. There's not much of a story for now, which is why I didn't bother writing about it. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
March 21, 20241 yr Glad it isn't hopeless. I am sure they want to move ahead but lately it has been so frustrating seeing so many projects languishing for months and years here and then ultimately disappearing... I hope things will change someday.
March 21, 20241 yr 12 minutes ago, mrclifton88 said: Glad it isn't hopeless. I am sure they want to move ahead but lately it has been so frustrating seeing so many projects languishing for months and years here and then ultimately disappearing... I hope things will change someday. This town can't even remove jersey barriers from their city center without two thousand studies and a few hundred surveys
March 21, 20241 yr The reason i filed the suit was to ensure collection upon closing of financing or upon sale of the asset. This was literally a non story and i was just doing it to protect myself and my company.
March 21, 20241 yr 6 minutes ago, zbaris87 said: The reason i filed the suit was to ensure collection upon closing of financing or upon sale of the asset. This was literally a non story and i was just doing it to protect myself and my company. That is another problem, stories being made about non stories. We are just so hungry for this project to start that we jump on things like this. Hope you are able to begin soon!
April 9, 20241 yr On 3/11/2024 at 7:18 PM, roman totale XVII said: ^ This ‘permanent closing’ lasted about a week. The lot is very much back up in business with signs for parking rates, monthly passes available etc. My hovercraft is full of eels
April 10, 20241 yr 10 hours ago, roman totale XVII said: This ‘permanent closing’ lasted about a week. The lot is very much back up in business with signs for parking rates, monthly passes available etc. it takes many decades to permanently kill a downtown Cleveland parking lot.
April 16, 20241 yr 5 minutes ago, mtnbikefan said: Rockefeller building for sale I thought this building was in good hands and well on its way to a complete rehab. What happened?
April 16, 20241 yr This whole development reminds of the Euclid Grand project as far as subsidies and then twists and turns and a drawn out completion timeline as well as changes in ownership. Hopefully we end up with the same result no matter how long it takes.
April 16, 20241 yr 3 minutes ago, Go CLE said: Any idea of the list price? I wonder if it will be a huge drop from the previous sale, like the recently nationally publicized deal for the AT&T building in St. Louis.
April 17, 20241 yr Well… I guess we won’t be seeing much happening here anytime soon. https://www.news5cleveland.com/news/local-news/brutal-rockefeller-building-owner-drops-makeover-plan-puts-landmark-up-for-sale Lets hope this building doesn’t languish forever.
August 8, 2024Aug 8 On 8/7/2024 at 12:29 PM, GISguy said: Sidenote, I was talking to my bus driver last night and he made it sound like there was some debris coming from the worksite during yesterday's storm (he mentioned their parking deck), curious if there was any worthwhile damage caused by the storm. Could have been from the Rockefeller too it sounds like... Downtown Cleveland's Rockefeller Building is still in shambles — and getting worse Stan Bullard August 07, 2024 High winds and driving rain from severe storms that hit the area on Tuesday, Aug. 6, added to growing woes for owners of the Rockefeller Building, a landmark at 614 W. Superior Ave. in downtown Cleveland. Cleveland police were called to the scene at 8:10 p.m., according to police records, with a report that windows were falling from the 17-story structure. The incident is the latest in a series of setbacks to developers who planned to convert it to apartments but failed to win funding to make a go of it. ... By noon Wednesday, Aug. 7, a few shards of glass remained on the sidewalk, and three windows had been broken out on the building's south side. https://www.crainscleveland.com/real-estate/rockefeller-building-conditions-worsen-downtown-cleveland
August 8, 2024Aug 8 Author 53 minutes ago, sky said: The building is now a slum. Hope it gets sold to a good owner. It will. And you won't have to wait long either. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
August 8, 2024Aug 8 Whoever owns it should take the Rockefeller sign down, replace it with their own and maybe the Rockefeller’s will buy it again.
August 9, 2024Aug 9 On 3/21/2024 at 12:17 PM, mrclifton88 said: Glad it isn't hopeless. I am sure they want to move ahead but lately it has been so frustrating seeing so many projects languishing for months and years here and then ultimately disappearing... I hope things will change someday. A land value tax would fix this.
August 9, 2024Aug 9 25 minutes ago, zbaris87 said: The building is under contract with a new buyer, hopefully closing soon Still expect this to be residential conversion or too soon to know?
August 9, 2024Aug 9 1 hour ago, Luke_S said: Still expect this to be residential conversion or too soon to know? Obviously I have no information, but it seems like a building Sherwin could be interested in vs building another skyscraper. A lot of room for another parking garage behind it too. Their campus could be Cleveland's 2nd oldest skyscraper, and it's newest. But I REALLY hope this is a residential conversion and Sherwin builds another tower.
August 9, 2024Aug 9 10 minutes ago, PlanCleveland said: Obviously I have no information, but it seems like a building Sherwin could be interested in vs building another skyscraper. A lot of room for another parking garage behind it too. Their campus could be Cleveland's 2nd oldest skyscraper, and it's newest. But I REALLY hope this is a residential conversion and Sherwin builds another tower. Sherwin Williams seems to want a connected campus, especially with the skywalks they have built. Also if Landmark Tower was seen as too old and outdated I don't see this, an older building by about 30 years, being any different.
August 9, 2024Aug 9 3 hours ago, Luke_S said: Still expect this to be residential conversion or too soon to know? Still a residential conversion, however, its no longer micro units. Regular sized market rate is the plan
August 9, 2024Aug 9 14 hours ago, TotalTransit said: A land value tax would fix this. This is my answer to most of society's problems lmao
October 9, 2024Oct 9 Abandoned Skyscraper: Rockefeller Building - Cleveland, Ohio https://www.youtube.com/watch?v=2dEbbvO_cZI Check this title on Youtube. This poster was able to get inside the building and one can see what horrible shape the interior is. I wasn't expecting to see interiors like this. I am also surprised by the lack of security to get inside. Edited October 9, 2024Oct 9 by dave2017
October 9, 2024Oct 9 Look up Kenny Wolfe, the owner. You'll understand why there's no security or anything. He's drowning in lawsuits from numerous investors, subcontractors and more. A quick google search will tell you all you need to know. Also, there's a lot more coming...
October 9, 2024Oct 9 52 minutes ago, zbaris87 said: Look up Kenny Wolfe, the owner. You'll understand why there's no security or anything. He's drowning in lawsuits from numerous investors, subcontractors and more. A quick google search will tell you all you need to know. Also, there's a lot more coming... A lot more in a bad way? Or is a major positive shift in this development is coming?
October 9, 2024Oct 9 2 minutes ago, MyPhoneDead said: A lot more in a bad way? Or is a major positive shift in this development is coming? @zbaris87 posted previously that it is under contract with a new buyer and should be closing soon. I would imagine closing could be a long and complicated process as I imagine there are a whole host of liens on the property-just guessing.
October 9, 2024Oct 9 Kenny Wolfe is in major trouble, however the building is under contract with a new buyer. Announcement should be coming relatively soon, and it will be a total change from the previous project.
October 9, 2024Oct 9 18 minutes ago, zbaris87 said: Kenny Wolfe is in major trouble, however the building is under contract with a new buyer. Announcement should be coming relatively soon, and it will be a total change from the previous project. Can you provide any info about the plans for the parking garage?
October 9, 2024Oct 9 1 hour ago, Htsguy said: @zbaris87 posted previously that it is under contract with a new buyer and should be closing soon. I would imagine closing could be a long and complicated process as I imagine there are a whole host of liens on the property-just guessing. Rockefeller closing was even mentioned in the CBRE podcast posted under the Project Scarlet thread so it looks promising: “…Spencer Levy Jamie, final thoughts from you. What's your vision five years from now for Cleveland? Jamie Dunford It doesn't look vastly different. A couple of things. One, Project Scarlet. There is other additional assets on the market that I've got listed today that are under contract, that are going to be conversions, right? One of the historic Rockefeller Building right across from Sherman Williams…”
October 9, 2024Oct 9 Yep, Jamie is the broker for the project and a close friend as well. I don't want to overstep my boundaries but the vision for the project doesn't just include the rehab of the building. It's much larger than that. Once the project closes, there will be more information coming out.
October 9, 2024Oct 9 18 minutes ago, zbaris87 said: Yep, Jamie is the broker for the project and a close friend as well. I don't want to overstep my boundaries but the vision for the project doesn't just include the rehab of the building. It's much larger than that. Once the project closes, there will be more information coming out. You sure do know how to get city nerds excited lol. I can't wait!
October 9, 2024Oct 9 19 minutes ago, zbaris87 said: Yep, Jamie is the broker for the project and a close friend as well. I don't want to overstep my boundaries but the vision for the project doesn't just include the rehab of the building. It's much larger than that. Once the project closes, there will be more information coming out. Very encouraging and interesting what it may include as the available footprint is sizable once the garage is removed. Do you know if this development applied for TMUD? Skyline changing??
October 9, 2024Oct 9 It has not applied for a TMUD, and depends what the definition of "skyline changing" is.
October 9, 2024Oct 9 1 minute ago, zbaris87 said: It has not applied for a TMUD, and depends what the definition of "skyline changing" is. So this isn't the Skyline changing hotel project then
October 9, 2024Oct 9 2 minutes ago, zbaris87 said: It has not applied for a TMUD, and depends what the definition of "skyline changing" is. Thanks you on TMUD news. Regarding “skyline changing” all here have been breathlessly waiting for news on the “skyline changing” development that has been teased here for some time.
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