Important note: Information in this article was accurate in 2007. The state of the art may have changed since the publication date.
San Francisco Chronicle - November 29, 2007
Leslie Fulbright, lfulbright@sfchronicle.com.
The sale is expected to be confirmed today during a bankruptcy court hearing in Oakland.
NCK LLC, a limited liability corporation, offered $1,052,000 for the property, said attorney Eric Nyberg, who represents the bankruptcy trustee in charge of the sale.
If the sale is approved, the 14,000-square-foot property will house Vital Life Services, a nonprofit serving people living with HIV/AIDS and other critical illnesses. Founded in 1987, the nonprofit is a nondenominational organization that is currently on Shattuck Avenue.
The only other bidder at the private meeting was Paulette Arbuckle, who submitted a bid of $899,000 shortly after the property went on the market, Nyberg said. Arbuckle is a longtime resident of the neighborhood near the bakery.
Previously known as a source of healthy food and a stepping stone for formerly jailed African-American men, the bakery has been the subject of controversy over the past several years.
Since the death of its founder Yusuf Bey in 2003, the bakery has been in turmoil, with infighting among possible CEO successors and a string of violence and criminal charges for one of Bey's sons, Yusuf Bey IV, who took control in 2006 and is now in jail accused of kidnapping and torture.
The complex has been shut down since it was raided by police Aug. 3, the day after Oakland Post Editor Chauncey Bailey was killed, allegedly by the on-site handyman, over stories he was planning to publish about the bakery's financial woes.
Bey IV filed for bankruptcy, hoping to avoid losing the property to foreclosure. But the bakery was moved from bankruptcy into liquidation because he didn't keep up with the paperwork. The money from its sale will be used to pay off a $200,000 tax debt and $700,000 owed on the mortgage.
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