Life and politics from the Sunshine State's best city

BayWalk auction draws no bidders

in The Bay and the 'Burg by

ST. PETERSBURG — No one bid to buy BayWalk at a public auction Friday, meaning the struggling downtown entertainment complex will now become property of the bank Wells Fargo.Wells Fargo attorney Leslie Joughin III opened bidding at $100 for the complex at the end of a foreclosure sale held at the St. Petersburg courthouse. No one made a counter bid.

Joughin said he was surprised by the lack of bidders. He declined further comment.

BayWalk fell to foreclosure last month when its previous owner walked away after failing to renegotiate the entertainment complex’s mortgage. It will remain open while under bank control.

Most experts predict Wells Fargo eventually will sell BayWalk to recoup its losses. A judge says the bank is owed more than $18 million for the property.

Peter Schorsch is the President of Extensive Enterprises and is the publisher of some of Florida’s most influential new media websites, including SaintPetersBlog.com, FloridaPolitics.com, ContextFlorida.com, and Sunburn, the morning read of what’s hot in Florida politics. SaintPetersBlog has for three years running been ranked by the Washington Post as the best state-based blog in Florida. In addition to his publishing efforts, Peter is a political consultant to several of the state’s largest governmental affairs and public relations firms. Peter lives in St. Petersburg with his wife, Michelle, and their daughter, Ella.

Latest from The Bay and the 'Burg

Go to Top