The historic Federal Reserve Bank of Kansas City building was bought for $12.8 million by the lender holding its promissory note at an auction on the front steps of the Jackson County Courthouse.
The lender, Great Western Bank of Sioux Falls, S.D., had been owed $14.3 million on the property and was the sole bidder at the auction, which lasted only a few minutes. The 21-story vacant building, which opened in 1921, had been owned by an entity established by developer Jason Townsend.
Lender buys back Kansas City Federal Reserve Bank building
Most Popular Articles
Latest Articles
Labor market report is good news for mortgage rates
Friday’s jobs report came in as a miss of estimates and wage growth came in lower than expected, which is good news for mortgage rates.
-
Virginia Realtors: Zillow’s touring agreement may not be legal
-
Low inventory creates challenging conditions in North Carolina’s housing market
-
Tri-state area housing shortage could cost the region economically
-
Remote reverse mortgage counseling now permanently permitted in Massachusetts
-
NAR settlement terms slated to go into effect in mid-August