16 August 2006

report hotel bentley sold

**updated** 11:43 am cdt friday 18 august 2006
dean camp "requests" cenlamar to remove its post "hotel bentley under contract for $6.5 million...
see Information Removed By Request
**updated** 6:57 pm cdt thursday 17 august 2006

--- broken link
original post
bob dean unloads the hotel bentley for $6.5 million....

the hotel bentley via alexandria postcard collection a feature of alexandria-retrospective

potentially great news but we still think 'out of town invester' paid about 5.7 million [4.4eur] too much, its already been 614 days since 12 december 2004 when the bentley was abruptly closed.
anyhooo we are cautiously optomistic. it all depends on what the new owners want to do we think the lobby and facade should be left alone. guesstimates are that including the sale price they are spending around 16 million dollars before they rent the first room. maybe they plan to carve the upstairs up and sell apartments to quickly recoup some of their investment. could you build that many condo's within the space? when donald trump built the 68 story trump tower it cost $200 million. he wrote in his book the art of the deal that the trump organization was able to sell enough residential space and retail and commercial space to cover that and make an immense profit.
more later...
related post:
  • bob dean hotel bentley fiasco