News
ASTORIA BUY FALLS THROUGH
May 11, 2011
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| Bring those flags to half-mast. There will be no single buyer for The Astoria at the Aramore condos for the moment. Sources tell us Flagstar Bank, the financer of the project, was in talks with an undisclosed third party to purchase the remaining unsold units. Those negotiations have ceased. In the meantime, Kairos Development is still in the midst of selling the remaining 43 units to individuals at the project located on Peachtree Street. We reached Kairos' Jack Williams, though he declined to answer any questions about Flagstar's plans to sell the units to a single buyer. He did tell us that of the 43 remaining units (of 70), three are already under contract, and they're seeing significant activity with asking prices $300k off from the peak. |
