Before it could be auctioned at an upcoming sheriff sale, the East Lakeshore Drive home of former Thinkstream executive Barry Bellue Sr. sold for $925,000 on Friday.
Bellue sold the 4,635-square-foot, three-bedroom and three-bath home to Robert Daigrepont Jr. and Darlene Alvarez Daigrepont, who were represented by Jerry del Rio, according to sales documents.
As previously reported, Bellue purchased the house at 2601 E. Lakeshore Drive for $626,500 in 2004, and put it on the market in May 2015 for $1.3 million. The asking price was reduced to $950,000 earlier this year.
The house was set to be auctioned at an Aug. 24 sheriff’s sale to cover debts Bellue owed to U.S. National Bank.
Court documents detail that Bellue had defaulted on his mortgage and owed the bank more than $515,918 plus interest, which has been accuring at a 2.6% rate since April 2016.
Via a text message, Jeffrey Welsh, who represented Bellue for the sale, says the house will presumably be removed from the foreclosure and auction list now that the bank has been satisfied. Daniel Reed, the attorney on record for U.S. National Bank, could not be reached before this morning’s deadline.
The foreclosure sale was one of several legal and financial troubles Bellue faced. A federal bankruptcy judge approved liquidation plan for Thinkstream—once one of Baton Rouge’s most successful tech firms—on June 3, effectively ending the company’s year-long bankruptcy.
