Abandoned building near Yaroslavl sold for developer debts

In the village of Ermolovo, Yaroslavl district, an unfinished apartment building will be sold. Information about this appeared on the website «RTS-tender».

The partially built structure with an area of 1,716 square meters is being sold together with the land. The plot size is 0.5 hectares.

The abandoned building is located parallel to Slavyanskaya Street, opposite an already completed three-story residential building. According to maps, this place is not far from the scandalous Zeleny Bor residential complex, where equity holders of two houses cannot get the keys to their homes.

The owner is listed as OOO «Spetsializirovanny Zastroyshchik Praktik» (Specialized Developer Praktik). This company, founded in 2007, is registered in Yaroslavl at Revolyutsionny Proezd, 12.

The owner and general director of the company is Sergey Lazarev. The main line of work is construction of roads and highways. According to data at the end of 2020, the company«s revenue was 1.1 million rubles (about $12,200 at current rates), and net profit after all expenses was 3.1 million rubles (about $34,400). This suggests that the company likely received other income not from its core activities, for example, from revaluation of securities or sale of assets.

Seized for multi-million dollar debts

However, apparently the company«s affairs later did not go smoothly. For example, in 2022, one of the major banks went to court to recover overdue loan debt from Praktik. The total amount was over 3 million rubles (about $33,300 at current rates).

The unfinished building was also seized due to debts. Praktik failed to repay 15.3 million rubles (about $170,000 at current rates) on time to entrepreneur Sergey Okhov, who provides consulting on financial intermediation. It can be assumed that this is the former director of the Yaroslavl branch of the Association of Builders of Russia.

To allow the company to repay the money, it was decided to sell the seized property at auction. The starting price for the object, whose completion is estimated at 9%, was set at 20.3 million rubles (about $225,600 at current rates). The unfinished building and land are pledged to Sergey Okhov.

Applications from potential buyers are accepted until July 29, 2026. The auction is scheduled for July 31.