PORTLAND — Two highly visible sections of Old Port real estate are scheduled for public auction this month as part of foreclosure proceedings.

The parcels on Wharf and Fore streets are at the intersection with Union Street. The Wharf Street properties house the Oasis bar and the Havana South restaurant. The section on Fore Street is made up of four buildings whose tenants include Blazin’ Ace, Gorgeous Gelato and two bars – Fore Play and Pearl.

The ground-floor space of the building at the Union Street end is vacant but under contract.

The holder of the mortgage – BACM 2007-3 Wharf Street LLC – has scheduled the auction for 10 a.m. June 30 at 50 Wharf St. Its attorney, Michael Nelson, could not be reached. The company’s manager is listed as LNR Partners LLC, a real estate company in Miami Beach, Fla.

Old Port Retail Holdings LLC bought the properties in May 2007. The sale price of the Fore Street properties – street numbers 432, 434, 436 and 446 – was $6.86 million. The Wharf Street buildings – street numbers 42 and 50 – sold for $1.45 million.

Nathan Smith, a Portland lawyer who represents Old Port Retail Holdings, said he is not at liberty to explain the circumstances of the foreclosure.

The managers of the company are listed in an annual report to the state as Joshua Dolgin, Neil Dolgin and Kalmon Dolgin of Brooklyn, N.Y. – senior partners in a real estate company called Kalmon Dolgin Affiliates.

Bidders must register with Nelson’s firm, Jensen Baird Gardner & Henry, and submit a deposit of $50,000.


Staff Writer Ann S. Kim can be contacted at 791-6383 or at: [email protected]