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New sheriff's sale of Union Trust building set for Jan. 7

| Tuesday, Nov. 20, 2012, 12:06 p.m.
KEITH HODAN PHOTO | TRIBUNE REVIEW
A Boston developer bought the Union Trust Building for $14 million at a sheriff's sale Monday. The building is at the corner of Fifth Avenue and Grant Street, Downtown. File photo.

A new attempt to conduct a foreclosure sale of the historic Union Trust Building, Downtown, is scheduled for Jan. 7 at an Allegheny County sheriff's sale.

The pending sale is a result of a decision by U.S. Bankruptcy Court Judge Judith K. Fitzgerald to dismiss a Chapter 11 bankruptcy petition filed by the owner of the 11-story building, 501 Grant Street Partners, which delayed a sheriff's sale on Aug. 6.

The foreclosure action is being sought by SA Challenger Inc., a subsidiary of U.S. Bank, which is owed $41.43 million by the owners of 501 Grant Steet Partners, identified as Michael Kamen, and Gerson Fox, both of Los Angeles and G&G-BH Properties LLC.

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