Geppi mansion in Md. fails to sell at auction

BALTIMORE

A mid-19th Century mansion belonging to businessman Stephen Geppi has been taken back by its mortgage lender after drawing no competing bids at auction.

Geppi and his wife went into default last year on the mansion known as Cliffeholme. It was built in 1849 by James Howard, son of Revolutionary War hero John Eager Howard, and it's listed as a historic property by the Maryland Historic Trust.

Ron West of Harvey West Auctioneers says only the bank made a bid on the house, for $2.8 million. The Geppis owed $3.2 million when they went into default, and they put it on the market two years ago for $7.7 million.

Geppi is head of Diamond Comic Distributors, publisher of Baltimore Magazine and an investor in the Baltimore Orioles.