Dollar Bank Buys August Wilson Center At Sheriff's Sale
The bank holding the delinquent mortgage on the debt-ridden August Wilson Center for African American Culture is now in control of the property following a sheriff's sale.
Dollar Bank, which has a $7.96 million mortgage judgment on the center, paid a little over $1,900 in taxes and costs associated with Monday's sale in Pittsburgh.
A consortium of charities was unable to complete an $8.85 million acquisition of the center by a Friday deadline due to an appeal filed by a security firm owed money by the center.
There were no other bids during the foreclosure auction, after which the bank's attorney declined comment.
The center named for the late black Pulitzer Prize-winning playwright and Pittsburgh native has been plagued by financial and attendance problems since it opened five years ago.