Oct
09

High-End Charleston Condos Sit Unsold As Economy Flags

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October 9, 2008

By Molly Parker, Daily Journal Staff

In another sign of the sagging economy, one of the region’s most expensive condominium projects remains more than 40% vacant almost a year after the bulk of construction wrapped up.

Owners of the Tides condominium complex in Mount Pleasant are offering incentives worth up to almost half a million dollars in an attempt to move 51 vacant units that remain in the high-end real estate project overlooking the Cooper River.

“Sales are slow,” said developer Richard Coen. “We want to do anything and everything we can to turn them around.”

Seventy of the complex’s 121 units have sold.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:
http://charlestonbusiness.com/dailyjournal/222_4-6/full-issue.html#12949

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