Sunday, November 29, 2015

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 Dykstra's $18.5M mansion sold to creditor


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.

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About this blog

PhillyDeals posts interviews, drafts and updates that Joseph N. DiStefano writes alongside his Sunday and Monday columns and ongoing articles about Philadelphia-area business.

DiStefano studied economics, history and a little engineering at Penn. He taught writing and research at St. Joe’s. He has written for the Inquirer since 1989, except when he left a few times to work at Bloomberg and elsewhere. He wrote the book Comcasted, and raised six kids with his wife, who is a saint.

Reach Joseph N. at, 215.854.5194, @PhillyJoeD. Read his blog posts at and his Inquirer columns at Bloomberg posts his items at NH BLG_PHILLYDEAL.

Reach Joseph at or 215 854 5194.

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