Foreclosure Stalled On Rapper’s Parcel

Foreclosure Stalled

On Rapper’s Parcel

Creditor Expects Sale By August’s End

At right, Wayne Bunn,. former president of the Otsego Lake Association, chats with other lakeside property owners as 60 people awaited this morning's foreclosure sale in the lobby of the Otsego County Office Building. In the center, Bank of Cooperstown President Scott White talks with his board chairman, Bob O'Neil. (Jim Kevlin/AllOTSEGO.com)
At right, Wayne Bunn,. former president of the Otsego Lake Association, chats with other lakeside property owners as 60 people awaited this morning’s foreclosure sale in the lobby of the Otsego County Office Building. In the center, Bank of Cooperstown President Scott White talks with his board chairman, Bob O’Neil. (Jim Kevlin/AllOTSEGO.com)
Robert Fraser, Saddle River, N.J., who identified himself as a mortgage holder on the Nash property, tells attendees he expects to see another foreclosure sale scheduled within a week.
Robert Fraser, Saddle River, N.J., who identified himself as a mortgage holder on the Nash property, tells attendees he expects to see another foreclosure sale scheduled within a week.

COOPERSTOWN – Sixty people – contractors, bankers, realtors and would-be owners of property on Otsego Lake – gathered in the lobby of the Otsego County Office building at 10 this morning, only to be disappointed again.

After a 15-minute wait, it was announced that the foreclosure on former rapper Peter Nash’s 1.17-acre lot, home and 200 feet of lakefront at Pegg’s Bay was delayed by a court order.

Robert Fraser, who identified himself as one of three mortgage holders on the property, then addressed the gathering.  He said county Court Judge Brian Burns had issued an order Wednesday on behalf of Nash’s wife, Roxanne.

The case now goes back to U.S Bankruptcy Court for the Northern District, Fraser said, and he anticipates another order within a week scheduling another foreclosure sale, by the end of August, he hopes.

“I want this sold; I’ve been waiting for years,” said Fraser, a broker/sales associate with Terrie O’Connor Realtors in Saddle River, N.J.

Nash, whose stage name was Prime Minister Pete Nice when he performed from 1989 to 1982 with the Third Bass rap group, is credited with being the first white rapper to produce a hit, “Pop Goes the Weasel.”

When the band’s popularity passed, Nash, a baseball research buff since boyhood, moved to Cooperstown and bought the Pegg’s Point property for $435,000 in 1993.   He invested in the Heroes of Baseball Wax Museum and also Cooperstown Dreams Park, before leaving the area in 2006.  He is reportedly residing in Gansevoort, Saratoga County.

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