Eastlake Lofts Cash Only For Now
Reader Phil urged us to reconsider Eastlake Lofts Unit #205:
When Katrina posted about this southeast corner concrete and steel loft last September, they were asking $330k. That has been dropped to $300k (short sale) and I see no mention of a special assessment that was a concern before. HOA Dues are a reasonable $379. At 915 square feet, it has a great open layout with 1 bathroom and a bedroom alcove. Two sets of tall windows lead you out to a large terrace on the east side and more windows on the south end open to a small deck. A gas fireplace adds a nice focus to the living area. The range/oven is also gas, for those cooks who can’t live without. Comes with parking and storage, what more could you want?
Curious why it wasn’t selling we touched base with the listing agent Mark Besta:
In the listing you will note that it is a cash only sale. There is litigation that is pending brought on by a couple of unit owners that does not have a dollar amount attached to it so there is no lender in town that will touch it until that happens. I have run 2 buyers through the short sale process and in both cases they were approved only to find out that their lenders would not proceed.
