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Post by dolfinmusic on Oct 1, 2006 15:34:44 GMT -5
Sorry if this has already been posted - didn't see anything. Down the shore this weekend and drove past the Gold Crest - down in the crest - and saw a big FOR SALE sign on it. Has anyone else heard anything?
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Post by Captain Phil on Oct 1, 2006 15:41:47 GMT -5
Its been for sale the past couple off seasons. If it sells, it will be run as a motel.
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Post by hulk007 on Oct 1, 2006 16:34:30 GMT -5
The Gold Crest Motel is not going anywhere.
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Post by dolfinmusic on Oct 1, 2006 19:50:22 GMT -5
Ohhhh ok! Thanks for the info. Glad to hear it will stay a motel  |
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JIMD
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Post by JIMD on Oct 2, 2006 17:27:02 GMT -5
Its been for sale the past couple off seasons. If it sells, it will be run as a motel. That's if it sells to the member of this board who wants to run it as a hotel. The owners are expecting (or were expecting) to sell to a developer |
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Post by nance on Oct 3, 2006 2:48:23 GMT -5
And is that so surprising?
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Post by Doowopper on Oct 3, 2006 14:17:03 GMT -5
The Gold Crest is a big motel. To fill up it's footprint you would needs lots and lots of condos. With the way the market is now, the chances of a developer teraing it down and building in it's place probably are not that good, unless he wants to give the condos away dirt cheap. If I remember correctly it's right in the motel/tourist district as well, across the street from the oceanfront lots. Probably not the best location either.
But you can never be certain.
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Post by shoregirl on Oct 3, 2006 14:55:30 GMT -5
Jimmy that owns the Imperial 500 wanted to buy it - but the owner is asking WAY TOO much for it. It's a shame because Jimmy would make the place look terrific - the Imperial 500 is a great place. We just came home from a 21 day stay in Wildwood last night - alot of auctions going on - several were held yesterday and alot will be held on the 15th of this month. They can't sell the places so they have to resort to auctions now.  WOW!!! Big surprise!!! IDIOTS!!!!! |
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JIMD
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Post by JIMD on Oct 3, 2006 16:42:48 GMT -5
Do you have any of the addresses for the auctioned properties and/or the prices they sold for ?
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Post by wildre on Oct 3, 2006 17:30:59 GMT -5
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JIMD
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Post by JIMD on Oct 3, 2006 17:48:59 GMT -5
I looked at the Sheldongood site. Reserves on the properties are $375K up to $475K. That's not an auction in my way of thinking (foreclosure). Now I see what's going on though, some people think these are foreclosures.
It isa good sign that things are slowing but far from a total collapse like in the late 80's early 90's so far.
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WOW!!! Big surprise!!! IDIOTS!!!!!