The Park Condos Charlotte Auctioned at Courthouse

Posted On: August 18, 2008 By: admin

Some contract holders of the The Park Condos and local businessman watched with special interest at the Mecklenburg Superior Courthouse on August 8^th, 2008 222 South Caldwell Street Ltd. Partnership, owes BB Syndication more than $27 million on the development’s $30.7 million construction loan.

At the foreclosure proceedings, was the highest bidder at $17.9 Million for The Park development. With this bid, Summit Shores resets the window of time for another suitor for The Park.

The Park was one of Uptown Charlotte’s first pre construction condos during the Uptown Charlotte Condo boom, but has been beleaguered with delays since the start. Accounting to the Charlotte Business Journal the developer had 87 of the project’s 107 units, which had been priced from $450,000 to $750,000.

Category: Second Ward