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2505 and 2507 Jefferson Street

4

December 29, 2013 by Baltimore Slumlord Watch

Property Address: 2505 and 2507 Jefferson Street, Baltimore, MD 21205

Property Owner (2507): MND Development, LLC, PO Box 32118, Baltimore, MD 21282

Resident Agent for MND Development LLC: Jack Novograd, 5616 Park Heights Ave, Baltimore, MD 21215

(Note:  Both the PO Box and 5616 Park Heights Avenue addresses are used for Stanley Rochkind-controlled shell companies and trusts.  Stanley seems to be transferring quite a few of his properties to the MND Development company — perhaps because it’s one of the few LLCs that doesn’t have a forfeited charter?)

Property Owner (2505):  Mayor and City Council, 417 E Fayette Street, Baltimore, MD 21202

City Council District and Contact: District 13, Warren Branch

State Senator:  William Ferguson IV

State Delegates:  Pete HammenLuke ClippingerBrian McHale

2505 and 2507 Jefferson Street

2505 and 2507 Jefferson Street

 

 

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4 thoughts on “2505 and 2507 Jefferson Street

  1. Amos says:

    A year and a half ago, Re/Max was looking to sell 2429, 2431 and 2412 Jefferson Street, “just blocks from Johns Hopkins main medical campus.” Re/Max listed the buildings at $129,000 each for 2429 and 2431; and $99,000 for 2412 Jefferson. The buildings were highly touted. “2429 & 2431 Jefferson are 2bd/2.5 ba – with granite & ssl appliances and laundry on the main level. Very nice renovations. 2412 is 2bd with 1.5 bath. Laundry also on the main level. *** The 2400 block of Jefferson St. has been receiving allot of attention by investors and Habitat for Humanity of the Chesapeake and is a very nice block.”
    The truth was a little different.
    Re/Max was structuring their asking prices because of several recent sales in the neighborhood at around $120,000 each. However, all of those sales were by Habitat For Humanity. The buyers got an interest free 30 year mortgage for 99.8% of the purchase price, the monthly payment being $328 on this mortgage. Moreover, the buyer got a $10,000 loan from the City for settlement and other costs. These buyers had to remain in owner-occupancy.
    Unquestionably, an interest free 30 year mortgage for just about the entire purchase price, plus a $10,000 subsidy, bears no relation to any fair market value, but is a clever way to inflate the price of a block.

  2. Tiffaney says:

    How is Jack Novograd allowed to do business in this town anymore? Why hasn’t he been, as the saying goes, run out on a rail?

    • Baltimore Slumlord Watch says:

      I wonder the same thing. How some of these folks have been allowed to continue business this way is beyond me.

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