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Grand Atlantic condo sold for $460,000

The one condo that sold at the Bermuda Housing Corporation Grand Atlantic development in Warwick sold for $460,000, much less than the published asking prices at the time.

Records filed at the Government Registrar showed that the ground-floor three-bedroom unit #10 sold to a couple, and the sale was filed January 31.

There are some 78 two-bedroom and three-bedroom units at the Grand Atlantic.

A brochure last November said prices started at $495,000 for the garden-view two-bedrooms on the middle floor, $545,000 for the garden-view two-bedrooms on the upper floor, and $585,000 for a garden-view three-bedroom; then it’s $560,000 for ocean-view two-bedrooms and $645,000 for the ocean-view three-bedrooms.

With the supposed affordable housing project not having worked out, the new Government decided to consider new uses for the site and marketed it here and abroad.

It said it has received five proposals from investors looking to take over the Grand Atlantic development.

The proposed projects could see the South Shore, Warwick property used for tourism, as a seniors’ residence or mixed use.

The closing date for applicants was May 23.

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Published June 27, 2013 at 9:00 am (Updated June 26, 2013 at 7:26 pm)

Grand Atlantic condo sold for $460,000

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