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Theft leaves foreclosed multi-million dollar 10th Ave E home stripped

A soured development project to build a multi-million dollar home on 10th Ave E took an even worse turn when a real estate agent discovered earlier this month that the three-story residence had been stripped of “numerous items” including all appliances and fixtures — even the garage door was missing.

According to a Seattle Police Department report, the property was foreclosed on “after the builder could not sell it.” The home is now for sale from Columbia State Bank, the lender that foreclosed on the property, for $1.5 million. It was listed for between $2.2 and $3.3 million while it was on the market.

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An agent of the Columbia State Bank inspected the property on January 21 and found the building to be intact, according to the SPD report. The real estate agent discovered the property had been stripped on February 9. According to the report, the bank employee believes the items removed from the 10th Ave E home may be worth more than $20,000.

According to King County records, the foreclosed home was built by Gilberta, LLC and a company called Berkshire Home Designs.

One in 45 homes in the US were hit with foreclosures in 2009. The 2.8 million foreclosed properties was a likely short-lived record. Experts predict even more in 2010 as the real estate market continues to settle out.

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6 thoughts on “Theft leaves foreclosed multi-million dollar 10th Ave E home stripped

  1. I’m sorry to hear that people are stealing things, but for the name of love, this is the ugliest house that’s ever been build on Capitol Hill. I watched them building it and was hoping beyond hope that it would have some personality. It’s almost impossible to believe that they approved the building permit for this monstrosity of a McMansion on Capitol Hill. I wish the whole thing could be leveled and I’m sure some of the neighbors do too.

  2. Looks like three stacked apartments. Way over priced. I believe this house was targeted because it’s obviously empty too long! No one wants to pay for something which has no incentives other than location. I find it very sad the neighbors did not see any theft going on. How can they not, being so close! I hope they catch who took advantage of this house. What’s happening to our society that people have to steal!! Sad, sad, sad!

  3. In my condo building which was taken over from the bank, the original developers stole virtually everything in the common area in broad daylight once he lost it to the bank. I’m guessing the same is true here. It would be extremely easy to steal these things. Get a moving truck and do it.

    Who here when walking down the street stops a group of movers carrying a heavy appliance and asks if it is theirs?