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HUD   >   Program Offices   >   Housing   >   Multifamily   >   PD   >   Lafayette
Exterior view of the property.
HUD Photo
Lafayette Towers
1301 Orleans
Detroit, MI 48207
Foreclosure Sale will be held on: November 30th, 2012
at 1:30 pm
Location: McNamara Federal Building, Room 1725
477 Michigan Avenue
Detroit, MI 48226
HUD INTENDS TO BID THE AMOUNT OF THE INDEBTEDNESS:  This high-rise apartment complex is comprised of two, 22-story buildings.  Located on approximately 9.86 acres in the Mies van der Rohe Residential District, this market-rate property offers 584 units.  Amenities include: fitness center, laundry room, community space, pool and garage.

EARNEST MONEY:  $100,000 is required for bidding at the foreclosure sale.

REPAIR ESCROW:  $2,524,428 is required at closing to ensure the completion of repairs within 18 months of closing.  Repairs are estimated at $10,097,714.
HUD is not offering financing.  This is an "all-cash", "as-is" sale.   HUD does not own or operate this facility and cannot grant access for viewing.  Viewing is at the discretion of the current owner/management agent.  Interested parties are urged to review the Invitation to Bid (see link below) prior to submitting a bid at the foreclosure sale.  HUD INTENDS TO BID THE DEBT AT THE FORECLOSURE SALE.