Orange County Choppers "World Headquarters" Sold via On-Line auction.
For over a decade, the weekly reality TV escapades of the Teutles were the pinnacle of Pop Culture TV.
Love them or hate them, they opened the world of custom motorcycles to New Generations & 100,000’s of people around the globe, boosting the exposure & profits of the industry that surrounded & grew with them.
The cult of the “Celebrity” Bike builder went down the ‘pan with the crash of 2008, and although Paul Senior attempts to maintain his American TV persona, most recently by appearing on Donald Trump’s “Celebrity Apprentice” & his new cable TV show “Orange County Chopper:American Made”.
The days of Big Corporate Bike Builds for Huge American Blue Chip Company’s, a nice “themed’, usually totally un-rideable chopper costing anything up to $300,000 are long gone, and the recent Auction of OCC’s “World Headquarters” shows just how much the world has changed.
There’s an old saying that as far as investments go, you can’t go wrong with investing in bricks & mortar. This however, was not the case in OCC’s 61,000 square foot building in Newburgh New York.
In hindsight 2008 really wasn’t a good time to spend over $13 million on a new corporate HQ. OCC owned the building until 2011, when it was forced to surrender it to it’s mortgage company, GE Commercial Finance Business Corp, to avoid going into bankruptcy. GE then sold the building to BRE Mixed Asset Owner LLC of Dallas.
One can only imagine the atmosphere in BRE’s board room as the on-line auction of the building ended at just $2,275,000 (approx. £1.6 million) nearly $11 million less than its 2008 price
OCC continues to lease 2/3 of the building