Ryan Briggs Ryan Briggs is a staff writer and connoisseur of City Hall intrigue, business dealings, neighborhood gossip and local lore. Ryan has studied, worked and resided in Philadelphia since 2004, covering politics and development issues for Hidden City, Next City and Metropolis, amongst other fine publications.
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According to records from the Sheriff's Office, two major East Falls properties owned by tax delinquent landlord Mark E. Sherman were sent to foreclosure sale last month, including the former Delaware Valley High School site and the Sherman Mills apartment complex.
Both properties had been chronicled here for their tax delinquency and Sherman's attempts to lease out his school building in spite of outstanding tax debt.
The former DVHS site was posted with an opening bid of $133,700, while one phase of the sprawling Sherman Mills campus was listed for $437,900. Opening values at sheriff sales are usually tied to the debt owed on a particular property.
According to the records, neither property advanced in price beyond that amount, as both were marked as having being sold back to the foreclosure attorney listed on the writ of sale. This is typically the result when there are no additional bids on a property.
No one from the City Paper was present during the sheriff's auction, but it seems pretty incredible that not a single person present ventured a bid on the massive school property or the better part of a large apartment complex. In any case, the foreclosing bank is now nominally in possession of both properties.
Although the listed attorney did not reply to requests for comment city deed records reflect that both the Kelly Drive school and Sherman Mills ownership was transferred last month to VFC Properties 20 LLC, based in Waco, TX. The address for this LLC matches that of First City Financial Corporation.
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