The palatial office building that was to be Adelphia Communication Corp.'s Coudersport headquarters is on the auction block again after the winner bidder in last year's auction defaulted.
The ,30 million building was auctioned off last year through the Internet real estate auction specialist LFC Online. On Wednesday, Ashley Carvahlo, public relations associate with LFC, contacted The Era in regards to the bidding process beginning again.
Carvahlo explained the buyer defaulted and "now the LFC Group of Companies is putting the Coudersport 'Taj Mahal' back on the auction block. The bid deadline is next Thursday, February 14, so this will be a fast-paced auction campaign."
She explained when the bidding began Tuesday night, the first bid was placed, putting the high bid at that time at ,3.1 million.
The building is described as a 72,000-square-foot, three-story office building with a fully finished basement and 80,000-square-feet of paved parking. Pictures of the interior and exterior of the building are on the LFC Group's Web site.
"Its polished granite exterior is complimented by bronzed windows, a stunning concrete and granite stairway with decorative wrought iron railings and two massive granite pillars inviting guests to experience the corporate opulence within," the description of the building reads.
The interior "boasts brass, bronze, granite, maple wood and parquet flooring and custom woodwork, including raised panel doors and wainscot throughout." The building features Internet connectivity for approximately 275 employees.
The building must sell this time around, according to the Web site.
LFC Group has sold and closed more than 60 other properties in Adelphia's real estate portfolio after the company's bankruptcy and liquidation.
On July 31, 2006, a subsidiary of Time Warner Cable Inc. and Comcast Corp., completed their respective acquisitions of all the cable assets of Adelphia Communications Corp. On Feb. 13, 2007, Adelphia's Chapter 11 reorganization plan became effective and Adelphia's public company reporting obligations ended.