Adelphia Operations Center remains empty

No tenants or buyers have come forward for the massive Adelphia Operations Center in downtown Coudersport, which remains under the ownership of a Chicago area real estate investor who now hopes to sell the property.

Bogdan Klek had initially tried to find tenants to lease space in the building.

In more recent weeks, however, Klek has been trying to find a buyer for the property.

Klek paid $3.6 million through an internet-based auction. The building cost an estimated $30 million to construct in 2000-02.

Klek said from the start that he had no intention of ultimately owning, much less occupying, the opulent office complex.

Complicating the issue is the fact that the property is included in a state-approved Keystone Improvement Zone.

That designation grants the owner certain tax advantages that could affect the amount of revenue derived by Coudersport Borough, Coudersport Area School District and Potter County.

Klek's purchase included the 72,000-square-foot brick, marble, granite and bronze building, designed to accommodate 275 employees, as well as about 80,000 sq. ft. of asphalt parking for 260 vehicles across four different lots.

Adelphia Communications Corporation continues under the management of Quest Turnaround Advisors, LLC, its plan administrator, to liquidate its assets and administer its plan of reorganization.

The deal between the Adelphia estate and Klek closed after two online auctions, two defaulted buyers, and an embezzlement case victimizing a would-be buyer from Ireland.

Last week, a Massachusetts lawyer pleaded guilty to wire fraud for misappropriating nearly $2 million from Kevin Phelan of Hollywood, Ireland. Raymond A. Desautels III, 42, was retained by Phelan to handle closing of the real estate transaction.

In a complex scheme, Desautels transferred Phelan's money to another Massachusetts man, Allen Seymour, who wanted to convince potential lenders that he and his associates had adequate net worth.

Seymour was nabbed by U.S. Customs and Border Protection officers at an airport in Florida as he attempted to flee to Venezuela with most of Phelan's money in his luggage.

Phelan also lost a $1 million deposit he made with the Adelphia estate.