Adelphia former headquarters sells for $3.6 million

By Caroline Salls

Pittsburgh, April 8 - Adelphia Communications Corp.'s former Coudersport, Pa., headquarters has been sold via an online auction for $3.6 million, according to a company news release.

The headquarters was sold by the LFC Group of Companies, a California-based online real estate auction marketing firm.

According to the news release, the sale came after two online auctions, two defaulted buyers and an alleged embezzlement involving the FBI and the Boston District Attorney's office.

"Nobody could've anticipated the turbulence this sale encountered, but ultimately, I don't believe that the building would've sold any other way," LFC Group president Bill Lange said in the release.

Adelphia, a Greenwood Village, Colo.-based cable operator, emerged from bankruptcy on Feb. 13, 2007. Its Chapter 11 case number is 02-41729.

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