ST. PETERSBURG — No one bid to buy BayWalk at a public auction Friday, meaning the struggling downtown entertainment complex will now become property of the bank Wells Fargo.Wells Fargo attorney Leslie Joughin III opened bidding at $100 for the complex at the end of a foreclosure sale held at the St. Petersburg courthouse. No one made a counter bid.
Joughin said he was surprised by the lack of bidders. He declined further comment.
BayWalk fell to foreclosure last month when its previous owner walked away after failing to renegotiate the entertainment complex’s mortgage. It will remain open while under bank control.
Most experts predict Wells Fargo eventually will sell BayWalk to recoup its losses. A judge says the bank is owed more than $18 million for the property.
