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Axonic Capital LLC, a mezzanine lender on the waterfront property, entered the sole bid at a Uniform Commercial Code foreclosure auction in New York on Thursday, Jan. 12.
Wolstein was the founding CEO of Developers Diversified Realty Corp. and the lead developer of the Flats East Bank project downtown.
Wolstein had been the CEO of The Wolstein Group since 1979 and was the main developer behind the new Flats East Bank.
The Wolstein Group is largely responsible for the revitalization of The East Bank of The Flats in Cleveland.
Scion of a prominent Cleveland real estate family, Wolstein had been diagnosed with cancer.