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Dear PoP – Allegro Foreclosure

IMG_0504, originally uploaded by Prince of Petworth.

“Dear PoP,

I noticed a story in the WBJ from last Friday saying the Allegro (3460 14th St, NW) was going into foreclosure. As a resident I have not heard anything from our management (not surprisingly) and was hoping you could ask around to see what people have heard. Has this type of thing happened to other apartment buildings readers live in? Does it typically have any effect on the renters?”

I’ve received a lot of emails about this development. Folks have also been commenting about this development in previous posts. Since you are a resident I really don’t think you have to worry. The article said that the property will go to auction Nov. 18th. I imagine it will be purchased and you will not even know the difference. I suppose it is possible that the new owners may change marketing companies and possibly change some of the rents. However, I would think that you’ll be locked into the price on your lease (anyone know for sure?).

I’m also curious if anyone has experienced a similar situation or knows of anyone who has gone through something like this? Do you think it is safe to assume that the current resident will not really notice any difference?

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