Articles

‘Aspen Legacy’ - Little Annie's Location & Parking Lot - In Foreclosure, ADN

Aspen Legacy Properties is the owner of properties including Little Annie’s Restaurant, galleries and parking lot next door

ASPEN REAL ESTATE - The “Aspen Legacy” property on East Hyman Avenue that includes Little Annie’s Eating House is in foreclosure proceedings, as the property owner and a lender continue their legal battle over a $9.2 million loan debt.Downtown Aspen Investments LLC, a Carbondale-based lender, filed foreclosure documents last month against Aspen Legacy Holdings, an LLC which owns Little Annie’s, the Thomas Benton building containing the former Huntsman Gallery and the parking lot at the corner of Hyman Avenue and Hunter Street. Aspen Legacy is controlled by New York attorney Ed Dingilian.The Dingilian family are long-time owners of the parking lot. Dingilian bought the other two parcels over the last seven years. The three combined properties were on the market in 2008 for $41 million. Dingilian took out the $9.2 million loan from Downtown Aspen Investments in 2008 to restructure other debts on the property and to provide a financial bridge that would allow him to find a partner to redevelop the properties or sell them, according to documents filed in U.S. Bankruptcy Court.
By Curtis Wackerle, Sept. 11, 2010 Aspen Daily News

Link to article