Northstar Center parking ramp headed to foreclosure
The Northstar Center parking ramp at 608 Second Ave. S., owned by Ns Propco Garage LLC and tied to Taconic Capital Advisors, is scheduled for a foreclosure auction July 2, 2026, at 10 a.m. at the Hennepin County Sheriff's Office.[1]
The 975-stall ramp is secured by a mortgage that originated in 2021 for $36.2 million; the borrower now owes just over $29 million.[1] County records put the ramp's estimated market value at $13.17 million, far below the unpaid loan and well under the $62.7 million Taconic paid for the entire Northstar complex in 2017.[1]
Taconic paid $62.7 million for the Northstar complex in 2017, and the property's garage company later took the 2021 mortgage that is now in default and led to the foreclosure filing.[1]
The sheriff's sale next month will determine whether the lender repossesses the ramp or buyers at auction bid the property into new hands, with the large gap between the loan balance and county valuation likely shaping bids and recovery prospects.[1]
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📌 Key Facts
- The Northstar Ramp at 608 Second Ave. S. (975 stalls) is scheduled for a foreclosure auction July 2, 2026, at 10 a.m. at the Hennepin County Sheriff’s Office.
- Owner Ns Propco Garage LLC, tied to Taconic Capital Advisors, defaulted on a $36.2 million mortgage originated in 2021 and now has just over $29 million outstanding.
- County records put the ramp’s estimated market value at $13.17 million, far below the mortgage balance and well below the $62.7 million Taconic paid for the entire Northstar complex in 2017.
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