Two properties whose auctions were rescheduled to take place yesterday will go unsold, at least for now: the embattled Senate Square apartments in Benton Park, and the tornado-stricken Delmar Savoy apartment building at Delmar and Union Boulevards. The two properties have the same owner, David Shemano (identified in court documents as Pinchos D. Shemano), and are both now in receivership after missed payments to their lender.
The matter is on hold at least in part due to the receivership lawsuit, which is currently making its way through St. Louis Circuit Court. Property management firm Aurox Equities, an investor in the properties, filed a motion to halt the receivership, sale, and intervene in the lawsuit. A judge granted that request last week, and a hearing on the matter is set for Monday, Nov. 2.
That means that for now, the Benton Park property that has neighbors riled up with concerns about vacancy, deteriorating conditions, and cosmetic issues, remains in a receiver’s hands. The attorney who announced the cancellation on the courthouse steps yesterday, Bryan Cave Leighton Paisner partner David Unseth, told the neighbors in attendance (repeatedly) that the lender may re-file a public notice for auctioning off the properties, adding, “The lender wants to do the right thing.”…