Destino
November-18th-2009, 06:30 PM
ontiac -- Nearly 35 years after taxpayers spent $55.7 million building the Pontiac Silverdome and a year after a $20 million sale fell through, city officials have sold the arena once called the most desirable property in Oakland County.
The price: $583,000.
"This was a giveaway," said David J. Leitch, a broker with an Auburn Hills based realty firm.
"The property alone, at $10,000 an acre, should have gone for more than that. And you have the Silverdome, its contents, and the infrastructure already in place. I had estimated it would probably go for between $1.2 million and $3 million. I can't believe it." http://www.detnews.com/article/20091117/METRO/911170327/1411/METRO02/Silverdome-sale-price-disappoints
Who bought it?
"The company, which Leeb described only as a Toronto-based group of real estate investors and a "family-run business," was one of four bidders considered during an auction at the Marriott Hotel."
They are going to make a killing if the sale goes through.
The price: $583,000.
"This was a giveaway," said David J. Leitch, a broker with an Auburn Hills based realty firm.
"The property alone, at $10,000 an acre, should have gone for more than that. And you have the Silverdome, its contents, and the infrastructure already in place. I had estimated it would probably go for between $1.2 million and $3 million. I can't believe it." http://www.detnews.com/article/20091117/METRO/911170327/1411/METRO02/Silverdome-sale-price-disappoints
Who bought it?
"The company, which Leeb described only as a Toronto-based group of real estate investors and a "family-run business," was one of four bidders considered during an auction at the Marriott Hotel."
They are going to make a killing if the sale goes through.