With news that the New Frankford Community Y building has been listed for sheriff sale set for October 4th, I found myself unsure of what that meant. It’s been no secret that the Y was in serious financial troubles for some time before it closed it’s doors permanently, including at one point, the Northwood Civic voting to file a suit in Orphan’s Court to the past financials of the center. So I reached out to Northwood Realtor Mike Galdi to see if he could shed some insight. Mr Galdi noted “a sheriff sale would clear title and allow for the sale of the building”.
Without knowing the specifics of the building, Mr Galdi noted several possible reasons for the property to hit sheriff sale now. The first mortgager of the property most likely instigated the process out of the belief that the property was of value to someone. Either they were approached by an outfit interested in the property or they believe that once it clears all liens and taxes, that they’d be able to put the property up for sale and find a buyer.
