Posted On: October 11, 2009 By: admin

It’s not looking good if you have a deposit for a unit at 210 Tradein Uptown Charlotte.  On October 2nd, Flaherty & Collins filed for Chapter 7.  The proposed 48 story, 419 unit tower will have to wait a while before being built.

According to court documents, there are over 300 creditors seeking an estimated $52.54 million in claims connected to 210 Trade.  The general contractor R.J Griffin & Co is owed $9.77 million for unpaid work.  R.J Griffin & Co is also the general contractor at The Vue Condos.  The Vue Condos was behind in payments but have recently paid.  R.J. Griffin & Co. will resume construction again.

There were a total of 265 buyers under contract at 210 Trade.  It’s highly unlikely these buyers will receive their earnest money back.  The Park Condos had 80 buyers under contract who lost their deposits.  The Park Condos was recently purchased by a developer from Florida and hopes to finish the tower soon.

Click here for Charlotte Condos For Sale

Category: Second Ward, Third Ward

Posted On: October 11, 2009 By: admin

After a month of no activity, The Vue Charlotte will begin construction again.  The general contractor, R. J. Griffin & Co, was recently paid by the project owners resulting in crews’ getting back to work.

R. J. Griffin & Co. abruptly stopped working on the nearly complete The Vue Condos almost a month ago.  The proposed 50 story tower only had a few floors unfinished.  Many pre construction buyers were holding their breath, hoping that construction would begin sooner than later.  With recent condo developments like 210 Trade Condos and The Park Condos going belly up, this would have been a nightmare situation.

With The Vue Condos now facing a “heavy lien” from the bank, should we expect The Vue Condos to reduce their prices to become more affordable in this buyers market?  The price per square feet at The Vue is one of the highest in Uptown Charlotte.  The prices range from $319,000 studio to a $2.59 Mill shell to be built penthouse.

Click here to search The Vue Condos for sale.  Interested in buying a house?  Check out the network of Charlotte Real Estate!

Category: Fourth Ward

Posted On: October 8, 2009 By: admin

September 2009 Charlotte Condos Report!

There were 58 properties on the market with an average list price of $348,133

1 properties were contingent.
6 property were conditional.
3 properties were pending.

There were a total of 11 properties sold for an average of $224,332 and were on the market for an average of 46 days.  The average list price for these units was $237,927.
There were 35 properties withdrawn and 24 expired listings.

The 11 units that were sold for the month were located at Court 6 Condos, Tivoli Condos, 2 at Trademark Condos, Skybox Condos, 230 South Tyron Condos, The Gallery Lofts, The Avenue Condos, and 3 at Fifth and Poplar.

Category: Statistics