HeadlinesBriefing favicon HeadlinesBriefing.com

KeyBank Tower Columbus Auction Starts at $1 Million After Foreclosure Woes

Yahoo Finance •
×

A 21-story office tower in downtown Columbus, Ohio, known as the KeyBank Building, will be auctioned starting April 14th with a minimum bid of $1 million. This follows a foreclosure lawsuit filed in 2024 by the building's New York-based owner, Baruch Broad Street LLC, who borrowed $11.8 million to purchase the property in 2022 but defaulted on payments. The lender sought more than $9.3 million in the suit.

The building, constructed in 1964 and renovated in 1986, contains 256,720 square feet of office space and is currently only about 30% occupied. Its location near major transit and the business district is noted in the listing, but the property has struggled with tenant departures and maintenance complaints, including a 2024 relocation by OH Pizza and Brew citing conditions as a 'nightmare'.