9 Dekalb Ave

The foreclosure auction for Michael Stern’s Brooklyn Tower at 9 DeKalb Avenue, scheduled for Monday, was postponed as lender Silverstein Properties and Stern’s JDS Development entered settlement talks. The auction was halted last-minute, following Stern’s default on a $240 million mezzanine loan in March. Silverstein, which recently acquired the senior debt, was expected to bid for the property to protect its investment. The tower, nearing completion, includes retail space, rental units, and condominiums.