$750,000 condos tough to sell


	$750,000 condos tough to sell

obvious

12-17-2007 12:49 PM

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housing, real estate

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/8fa7699b-a9e5-4a26-a781-96968334207d/75A22729-E9AA-4C32-8A6F-8FDD8FEABF4E/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.mcall.com/news/local/all-a1_3condo.6170890dec16,0,6460393.story" href="http://www.mcall.com/news/local/all-a1_3condo.6170890dec16,0,6460393.story" style="font-size: 11px;">www.mcall.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.mcall.com/news/local/all-a1_3condo.6170890dec16,0,6460393.story">When the Eastonian opened in 2006, the fanfare reached a feverish pitch, with state and local politicians touting the $14 million project as the savior of the downtown and a symbol of greater things to come.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.mcall.com/news/local/all-a1_3condo.6170890dec16,0,6460393.story">
The developers, Koehler-Kheel Realty, said the renovation of the old Hotel Easton would prove to skeptics that buyers would be willing to pay up to $795,000 to live downtown</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.mcall.com/news/local/all-a1_3condo.6170890dec16,0,6460393.story"><DIV>
Thus far, the Eastonian, in the 100 block of Northampton Street, has failed to meet these lofty expectations, as only nine of the building's 30 units have sold, according to Northampton County real estate records.</DIV></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.mcall.com/news/local/all-a1_3condo.6170890dec16,0,6460393.story">
In fact, records show that only one unit has sold during the past 17 months</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.mcall.com/news/local/all-a1_3condo.6170890dec16,0,6460393.story">
Eastonian developer Peter Koehler blamed the economy and the sluggish real estate market for the slow sales.</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/75A22729-E9AA-4C32-8A6F-8FDD8FEABF4E/blog/" title="blog or email this clip"><img src="http://content6.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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