Sandy Point Going Condo!

[TiltonBB]

It looks like Sandy Point Resort will be sold to condo developers. The price is in the $10 million range.

The potential buyers are doing their due diligence now but there should be a closing before the end of the year.

At one time there were 77 units there but it looks like in condo form there will be about 36 units, with docks. There is over 2,000 feet of lake frontage.

One concern is whether to rehab existing units or build new on the existing footprints. Another concern is the septic system is located across the street so it requires a pump system. But, without town sewer that is better than having the system on the lake side of the street.

At one time the price would seem crazy but with the current real estate market maybe it isn't that out of whack!