Property Grunt

Thursday, April 08, 2010

Even the comic book industry is not safe from foreclosures.

Bruce Wayne would have been proud.

Back in 2004, Stephen A. Geppi, the head of Diamond Comic Distributors Inc., bought the place $4.8 million and then things got hairy.

One of the Baltimore area's most historically significant residences is headed for a foreclosure auction today, more than two years after owner and prominent businessman Stephen A. Geppi put it up for sale for $7.7 million amid the slumping housing market.

The mid-19th-century mansion in Green Spring Valley known as Cliffeholme, with eight bedrooms and nine fireplaces, is scheduled for sale at the Baltimore County Courthouse with an outstanding mortgage debt of $3.25 million, court records show. The Maryland Historical Trust includes the house in its Inventory of Historic Properties, a catalog of notable properties at least 50 years old.

It should not be surprising that he is heading towards foreclosure, after all he is an investor in the Baltimore Orioles.

3 shots to the drum and cymbal crash.