Foreclosure Auction Set For Former Mount Kisco Borders

MOUNT KISCO, N.Y. -- The foreclosure auction of the former Borders site in downtown Mount Kisco has been scheduled for Aug. 5 at 10 a.m.

Tom Auchterlonie

06/19/2014 4:30 p.m.

P. Daniel Hollis, a Mount Kisco attorney who is serving as referee, gave the date and time.

The auction will be held in the lobby of the courthouse in White Plains, a building that is used by county and state courts. The courthouse is at 111 Dr. Martin Luther King Jr. Blvd.

The foreclosure auction comes following a May 30 deal between property owner Mt. Kisco Associates, LP, and mortgage holder GCCFC 2007-GG11 Kisco Retail, LLC. As part of the deal, the owner agreed to allow for a foreclosure. After the deal was reached, a judge approved foreclosure in a ruling last week.

The mortgage holder sued the owner in February 2013, claiming that it defaulted on a mortgage. The loan, which was agreed to in 2007, with terms including a $6.3 million principal balance, a 6.815 percent interest rate and a maturity date of Sept. 6, 2017.

The former bookstore site's address is 154-162 E. Main St.

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