Ex-Phillie Dykstra's $18.5M mansion sold to creditor
Creditor takes over the Wayne Gretzky mansion that was briefly home to Philly's "Nails"
Ex-Phillie and ex-online investment guru Lenny Dykstra's Thousand Oaks, Calif., mansion, which Dykstra borrowed $18.5 million to buy from hockey great Wayne Gretzky in 2007, has been acquired in a bankuptcy foreclosure sale by creditor Jeff Smith of Index Investors, the LA Times reports here.
Smith, a developer, lent Dykstra more than $700,000 to fix Dykstra's private jet and for other needs before Dykstra declared bankruptcy. Smith bid approximately the value of his debt to buy the mansion in the ensuing foreclosure sale. Smith is fixing up the property and plans to sell it at a profit after using proceeds to pay off Dykstra's mortgage to JPMorgan Chase and other loans, LAT says.