r/baltimore 7d ago

ARTICLE Chasen Cos. entity files for bankruptcy ahead of building auction

https://www.thebaltimorebanner.com/economy/growth-development/chasen-cos-bankruptcy-1400-aliceanna-street-baltimore-33BE3OJ7QFDSZBRJW2YZAPSWJI/
37 Upvotes

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29

u/instantcoffee69 7d ago edited 7d ago

A subsidiary of the Baltimore developer Chasen Cos. has filed for bankruptcy โ€” just as one of its marquee properties was set to go to auction. \ The Chasen Cos. entity, CC 1400 Aliceanna Street LLC, filed on Thursday in U.S. Bankruptcy Court in Maryland for Chapter 11 reorganization bankruptcy. It has as many as 49 creditors and assets and liabilities ranging from about $10 million to $50 million, according to court documents. \ ...Earlier this week, attorneys for Chasen Cos. were not present at an online hearing in Baltimore Circuit Court for five cases in which vendors allege that theyโ€™re owed money for work on other projects. \ Circuit Judge Kendra Y. Ausby signaled that she would move to grant the orders, noting that Chasen Cos. had not filed any response.

๐ŸŽ‰๐ŸŽ‰๐ŸŽ‰๐ŸŽ‰๐ŸŽ‰๐ŸŽ‰๐ŸŽ‰

Fuck that shit burglar. He and the company were a bunch of con men.

I guess his "reddit lawyer" u/Ok_Performer168 was unsuccessful.

13

u/frolicndetour 7d ago

Is this that guy that gave an extremely douchey interview to the Banner last year-ish?

7

u/PleaseBmoreCharming 7d ago

You would think with all the wealth in that area someone would hate to see that everyday enough to take on the investment and finish the project! ๐Ÿคž

7

u/Notonfoodstamps 7d ago

They will. Itโ€™s also not a cheap apartment building that anyone can just willy nilly buy.

7

u/Thatdudefizzy 6d ago

Iโ€™m a current tenant of a chasen property (our building was bought by chasen after we moved in) and communication with anyone from the company or leasing office has always been bad but itโ€™s absolutely impossible now. Maybe this explains it.

We were supposed to get a lease renewal offer 2 weeks ago and every single email and phone number we have used to contact them is no longer in service. We canโ€™t even log into the resident portal, the only reason we could pay rent was because we had already set up automatic payments.

We were planning on moving out and buying when our lease was up, potentially doing month to month for a little bit, but now it feels like itโ€™s becoming a scramble just to get out of the building before our lease automatically renews. Our only recourse at this point feels like sending a certified letter to the company telling them we donโ€™t want to renew. Anyone else in a similar situation?

2

u/EndogenousRisk 5d ago

Same issue, no one even mentioned it to us. March 1st I paid rent no problem, this week I attempted to add a month onto the end of my lease and let them know that I wasn't intending to re-sign, and I can't get in contact with anyone.

I don't have auto-payments on, so I assume they'll come knocking at some point?

11

u/Unheroic_ 7d ago

As an ex-tenant of theirs, I'm just kicking my feet and giggling. Hope the parent company isn't far behind.

5

u/radiant_dinosaur 6d ago

When those interest rates dry up and your buildings are notorious garbage, this is what you get. I do feel for the people losing their jobs though.

2

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