The Brookhaven Executive Center in Medford, which housed the operations of Brookhaven Town in the 1980s and 1990s, will be sold at a foreclosure auction on Friday.
The 10-building office park at 3235 Route 112 is jointly owned by Paul Elliott LLC, Sam Weissman LLC and Mark McAvoy LLC, with a minority stake owned by Hurney BEC LLC, according to court documents. The current debt owed on the property is $19.2 million, according to a legal foreclosure notice.
Paul Elliot is the chief executive of Soundview Realty Group in Farmingville, which owns several commercial properties across the Island. Elliot and a lawyer for the mortgage lender American General Life and Accident Insurance did not return requests for comment.
The 15-acre property was purchased in 2003 from the town for $9.65 million by Elliott and Weissman with a $6.5 million mortgage from Suffolk County National Bank, according to property records and previous Newsday reports. Brookhaven Town, which had used the property as its town hall since 1986, moved its operations to Farmingville. The mortgage was refinanced in 2007 with a $14 million loan from American General Life.
The borrowers began missing payments in February 2012, and received a notice of default in March 2012. The lender subsequently filed for foreclosure.
The auction for the property will take place Friday at 10 a.m. on the steps of Brookhaven Town Hall at One Independence Hill in Farmingville.