For the price… “Black Friday” the “princely” property in Chora is under the hammer again (photos)

On the electronics platform Auctions The “popular” monarchy returned to what it was Mykonos countrywhere It also belongs to…the prince.
For this particular property, which is considered particularly special due to its location, ‘excitement’ was shown around the starting price as it started at €660,000, then doubled to €1.3 million, then dropped to €1.3 million. 1,040,000 euros It has now fallen further to €865,000, based on a more recent valuation report released in May 2023.
With this value start and accelerate InteriorIt is scheduled to be auctioned on January 10, 2024, unless there are proposals for comment by then.

Real estate and “low” prices

It is a property located in the center of Chora and on the streets of Matogianni and Kalogira, that is, in the most commercial area, Where well-known fashion brand stores dominate.
Property is owned and undivided Entrepreneurs Stavros Megaklis and Karl-Egon Freibrich Prinz zu Furstenberg, who have run the Furstenberg store at ActiCompany since 2000. In October 2007, the two businessmen began purchasing the property with a loan, and the loan installments were paid normally. However, sometime in 2015, in the middle of the financial crisis, payment delays started and around 2017-2018 they stopped completely.

The property has been put up for auction as of January 2020 with a starting price of €660,000. An objection followed and in October 2020 he was released for €1.3 million. The third hammer struck on 7 September 2022, with the minimum once again set at €1.3 million, but was aborted due to a lack of bidders. Another auction followed on 18 November 2022 where the price dropped by 20% to €1,040,000, but was suspended. However, it has now returned with a reduced starting price of €175,000 865,000 euros.

The auction relates to the undivided half of the full ownership of each of the debtors:

– Horizontal property (one-storey house) occupies the first floor of a two-storey building, located on Matogianni Street and built on a plot of 109.30 square metres. On the ground floor there are two commercial stores.

-Another room with a loft and its own balcony (ground floor roof) occupies the entire first floor above the ground floor of another building.

In particular, the house on the upper floor consists of five rooms (hall, dining room, kitchen and two rooms) with a loft, which have a total area (without the loft) of 96.72 square meters. The other loft room and its veranda, which occupies the entire first floor, above the ground floor of another building, with the adjoining bathroom in the “house” has an area of ​​56.50 square metres.

Regarding the general condition of the property, it is reported to be very goodWhile according to the external anatomy, it “is located on a plot of land within its traditional settlement.” Mykonos City At the intersection of Matogianni, Malamatinha and Kalogera streets, in the most commercial area of ​​the city. The uses in the area are commercial with a number of shops from well-known Greek and foreign houses as well as shops of health interest (mainly bars and restaurants). As emphasized, shop rents are very high.

Loan and adventure

The two entrepreneurs’ adventure began because of the loan they obtained in 2007 Bank of Cyprus The remainder, as of 2014, has moved into so-called final arrears. Thus, by virtue of the payment order issued by the judge of the Single First Instance Court of Syros, a lien was imposed on the amount of €450,000, part of the total claim amounting to €686,183.88.

Somehow the feature made its way to the electronics platform AuctionsScheduled for January 22, 2020, the first offer price is 660 thousand euros. The debtors filed an objection in November 2019 against the then-operating Piraeus Bank (as a special successor to the Bank of Cyprus), stating that the description of the property was incomplete and its value was higher. The evidence presented to the court shows this The horizontal property taken over is not a shop, as stated in the previous valuation report, but a house, “the veranda of which has changed use and is now a room”.

At the discretion of the court “The fact that there is not a balcony but rather an additional room in the above-mentioned house, even without it being subject to settlement, increases the value of the property, as the possibility of including the arbitrary part in the relevant settlement act is not negated.”. Additionally, from the photos provided, it was assumed that the property was in excellent condition with new tires and well maintained.

By following these things and taking into account that “in Most of the commercial sites of the traditional settlement Ha Mykonos City At the intersection of Matogianni, Malamatinia and Kalogira streets, this is a renovated and elegant first floor apartment, in accordance with the Mykonian architectural characteristics. The use of the veranda has changed and is now a room, which has increased the total area. The area of ​​​​the house is 153.22 square meters.” The single-member court of first instance accepted In Cirrus on 20 December 2019 partially objected, and ordered the initial price to be increased to 1.3 million euros from 660 thousand euros.

At this first bid price, the property was scheduled to go to auction on January 22, 2020, but the auction has been suspended. On October 7, 2020, it was reissued, and the auction was shown as “completed.” However, the loan was transferred to Intrum and the next hammer followed, the new endowment and now auction to Beginning of January.

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Mykonos Auction Furstenberg BoutiqueMykonos City