New Haven Independent

Some eight people showed up Saturday for the foreclosure auction of 190 Willow St. Twelve had called attorney Jerome Pagter (pictured in sunglasses with Fuchs’ wife Debi) with inquiries in the days before the Saturday morning sale.

But in the end only Fuchs — who has owned and operated the next-door eatery for 27 years — bid against the bank.

The bank’s opening bid on the property, appraised last month at $250,000, was $176, 400.

“I bid $176,500,” said Fuchs.

“It’s yours,” said Pagter.

The previous owner, former city Assessor Terrence Dinnean, whom Fuchs knew, had purchased the house in October 2005 for $250,000. He financed it in part with a loan of $207,000 from HSBC Bank USA.

Fuchs didn’t know what had happened, although he noted that Dinnean attempted to renovate the insides and then rent the units. Fuchs, who also owns the building immediately next to the restaurant’s parking lot and also the building adjacent to his new possession, hopes to have better luck.

“We figure it’ll cost $50,000 to renovate both units inside and outside as well. That’s why I would not have bid much more than $180,000,” he said, “if it had come to that. With the purchase, the renovation costs and I figure $700 to $800 eventual rent from each unit, it’ll break even.”

His idea is to use the renovated building to rent to some of the restaurant’s 45 employees (full and part time), although he’s happy to rent to anyone who wants to be in the neighborhood.

Would he use the new building to expand the restaurant? “Are you kidding?” he said with a bemused smile.

“We are a non-conforming use. I can’t add or change a thing. I can’t even open up a Christian Science reading room if I wanted to get religion and switch from beer to the Bible. The use must be same use, no changes. No, this is just for protection.”

Brian Thomas, whose Fair Haven plumbing and heating company also buys and sells properties, showed up, but just to look. His partner was out of town so this weekend, he wasn’t going to offer real money. And Shawn Mohovich (pictured below), a builder and designer who lives around the corner, took a break from his jog, to check out the proceedings. He took a look at the formal notice to bidders that Pagter distributed, but decided to pass.

Why hadn’t more people shown up to bid on a building in fairly fashionable East Rock? Attorney Pagter said he was a little surprised given the location.

Or was this a sign of foreclosure times to come?

There was no lawyer’s wisdom offered on the matter. Bob Fuchs said the small turnout might be in part because despite the nice location, “Believe it or not, there are some people who might not want to live next to a bar that is open 364 days a year.”

The attractive 106-year old structure has a small yard in back, but almost zero space on either side, and no place to park.

Several people who gathered around to watch the proceedings turned out to be there not only for the real estate spectacle, but for practical reasons as well. A carpenter gave Debi Fuchs his card and offered his services to start on replacing the rotting windows. Another fellow offered Bob Fuchs contractor services.

Former owner Dinnean was nowhere in sight. Fuchs said he was a nice guy, but he hadn’t seen him in years, nor was there evidence of recent tenants.

What will happen to the balance of the debt, some $30,000 that Dinnean has on his loan, the difference between Fuchs’ purchase price and the loan, with interest?

Attorney Pagter said that the bank could either accept the $176,500 from Fuchs and call it a day, or file another proceeding against Dinnean, a deficiency judgment it’s called, for the balance.

Before he invited the attorney inside Archie Moore’s to sign additional papers, and presumably to toast the recent sales event, Bob Fuchs enthusiastically described the history of Archie Moore’s. He wasn’t sure of the age of the place, although he has its liquor license from about 1898. The bar had begun across the street from the present location more than 100 years ago. It moved into the current site, a German family-owned grocery story, in 1912.

“My husband is a very good landlord,” said Debi Fuchs.

“Within three months, you’ll see,” said Robert Fuchs. “The building will be beautiful.”

Finally, here was a foreclosure with what appears to be a happy ending — although clearly not for the previous owner. Now 190 Willow will have an owner who will do right by it over the years, and benefit the local economy in the process. Fuchs said he plans to start the rehabilitation immediately.

Previous Independent coverage of New Haven’s foreclosure crisis:
• Rescue Squad Swings Into Action
• A Bidder Shows Up
• Bank Beats Tanya’s Bid
• Westville Auction Draws A Crowd
• DeStefano: Foreclosure Plan Ready
• Can They Help?
• “We Should Over-Regulate These Bastards”
• Rosa Hears of Rescues
• WPCA Grilled on Foreclosures
• WPCA’s Targets Struggle To Dig Out
• Sue The Subprimers?
• WPCA Hearing Delayed
• Megna’s “Blood Boils” at WPCA Tactics
• Goldfield Wants WPCA Answers
• 2 Days, 8 Foreclosure Suits
• WPCA Goes On Foreclosure Binge
• A Guru Weighs In
• WPCA Targets Church
• Subprime Mess Targeted
• Renters Caught In Foreclosure King’s Fall
• She’s One Of 1,150 In The Foreclosure Mill
• Foreclosures Threaten Perrotti’s Empire
•“I’m Not Going To Lay Down And Let Them Take My House”

The following links are to various materials and brochures designed to help homeowners avoid foreclosure.

How to prepare a complaint to the Department of Banking; Department of Banking Online Assistance Form; Connecticut Department of Banking, Avoiding Foreclosure; FDIC Consumer News; Statewide Legal Services of Connecticut, Inc; Connecticut Bar Association Lawyer Referral Service.

For lawyer referral services in New Haven, call 562-5750 or visit this website. For the Department of Social Services (DSS) Eviction Foreclosure Prevention Program (EFPP), call 211 to see which community-based organization in the state serves your town.

Click here for information on foreclosure prevention efforts from Empower New Haven.