Now a last jewel in jet-setting Bob Matthews’ New Haven empire is in foreclosure.
The property is 59 Elm St., the five-story, 99,850 square-foot circa 1926 office building that anchors the northwest corner of Orange and Elm streets.
A court hearing is scheduled Monday on a foreclosure action brought against Matthews’ 59 Elm LLC on Sept. 29 by a lender, U.S. Bank National Association. Matthews failed to make payments on $8.377 million he still owes on a building most recently (in 2007) appraised at $5.83 million, and quite possibly worth less now.
Click here to continue reading Paul’s report.
