AT LAST: Another Unit Is Closed at the River Place Condo in Salisbury
Two weeks ago, the developer of the condo on Riverside Drive near downtown
Salisbury transferred the 4th unit that has been “sold” in the 42 unit project –
it’s the first one to be deeded this year and the first of the
larger “penthouse” units that contain about 2,600 square feet, with a birdseye
view of Brew River and the Perdue plant, to be transferred.
But the stated price – $650,000 – may not represent cash-in-hand or paid to
reduce the developer’s construction loan, because the buyer “Four H
Investments, Inc.” appears to be affiliated with the Harkins/Southern Builders
enterprise, so it may be a deal for part payment under the construction
contract. That's consistent with the fact that there is no mortgage for the
transaction in the Land Records.
Stay tuned, folks, because if there is still life in this condo, then the
lender for the one that’s been halted, part build, on Fitzwater Street may be
persuaded to reconsider its decision to stop the funding in mid-stream. After
all that site is nearer to Brew River and the Perdue Plant and has better
exposure to both.
So, does anyone out there want to rent a penthouse apartment on the Wicomico
River with the view described above (and some savory odors from the poultry
plant when conditions are right). You can keep your yacht at the Salisbury City
Marina -- just bring your own gas.
DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
11 comments:
Reserve yours now -- at the rate it's going, the final sellout will be about 2014!
I think I'd like a $3,000+ a month payment for a cubby hole in a building that overlooks a bar and a chicken plant with no chance for quiet from the highway or weekend bands at the bar. Also, sign me up for loud neighbors all around me that can't simply be evicted because they're a-holes. I'd also like to chase people out of my parking space, and not have a square foot of grass to place my feet on. I'd love it if someone could please limit what I am allowed to put on my own patio, and if you don't mind, please create a condo association so that we have bylaws limiting what I am and am not allowed to do/renovate inside the home that I own. Put some kids upstairs from me, if you don't mind. The bigger and louder the better. And make sure my neighbors are smokers, please. I don't like opening my windows anyway.
oooh .... Is that organic coffee across the street?
Stange thing the developer Monaham is building a building in Ocean City, after everyone with brains stopped. Clearly just to get some cash flow from the construction loan. He has ties to Oscar Careys estate, but we will see just how long he can hang, frankly he never had the brains.
Who the hell would want to invest that kind of money for an overrated condo on a filthy ditch dodging stray bullets from the ghetto. Don't forget the millions of gallons of raw sewage being dumped in the wicomico. "Look it's a turd!" No it's just Bubba.
A fool and their money soon part
Bubba ("R Necks Mare") Comegys sez:
Onward to the "North Prong"
8:55-
Wanna bet some of that construction loan found its way "off-site"???
Don't buy now --
Wait til the foreclosure sale floods the market at clearance sale prices!
$650K will get something nice on the beach these days, with much lower taxes and no "Salisbarrie" BS, in world famous Worcester County.
With all of four units sold, those condo fees must be hellacious. But at least the owners meetings are short
they should raffle them off at a hundred dollaes a ticket.
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