A Dayton bankruptcy petition filed by an Australian millionaire and co-owner of the RiverView Park Apartments has prompted a federal court order forcing tenants to move out of the Harrison Twp. apartments today, according to Attorney John Paul Rieser, bankruptcy trustee.
The millionaire is Geoffrey Edelsten of Melbourne, Victoria, who is described by international media reports as being a former medical entrepreneur.
The Dayton bankruptcy was the result of a dispute between Edelsten and former Miami, Fla. business partners , Limor, Rafael and Isaac Keith Mawardi, according to Rieser.
Edelsten had to file bankruptcy in U.S. Bankruptcy Court in Dayton because he owns the apartment complex here under the name Barrington Spring House, LLC, according to Rieser.
“There is pending motion from (the judge) to send it all back to Florida…At the end of January (the judge) had hearings,” Rieser said. “They agreed that Edelsten would put up money for insurance and the tenants would be vacated.”
Rieser was referring to Edelsten’s court case in Florida’s federal court system.
It is unclear how many tenants remained in the apartment complex as of late Thursday, but Reiser said he believed that the complex was seven percent occupied. There are at least 160 rental units, according the Montgomery County Auditor’s records.
RiverView’s apartment manager Corla Young declined comment when contacted by a Dayton Daily News reporter. Young is listed as the statutory agent for Barrington Spring House, LLC.
Barrington Spring House owns four parcels of land, all rental property, in the county, according to the auditor’s records. The properties are located on Riverside Drive and Forest Park and all have delinquent property taxes. The combined total for all the parcels is approximately $301,900.
In the meantime, township officials requested approximately $250,000 from the Montgomery County Land Reutilization Corporation to demolish at least five vacant apartment units owned by Barrington Spring House. “We received $125,000 from the Land Reutilization Corporation and $125,000 from the Ohio Attorney General Office’s Moving Ohio Forward,” said Jack Kuntz, Harrison Township’s developmental director.
Kuntz added that the demolitions must be completed by May 31, due to the state’s funding agreement with the township.
Plans to pursue the demolitions began late last year after the township declared the areas dangerous. The designation came after township officials found out that the Montgomery County Sheriff’s office was getting numerous calls about mold, floors caving in and metal scrappers stealing from the buildings.
“The sheriff’s office was concerned about the safety of the residents,” Kuntz said.
He added that the township cannot do anything with the land after the demolitions because Barrington Spring House still owns the property.
When asked about the remaining property owned by Barrington Spring House, Kuntz said, “I don’t think it’s economically feasible to demolish all the structures there because it’s such a huge campus.”
The demolition issue is likely to be discussed at the township trustee’s March 20 meeting.