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Jax Daily Record Wednesday, Mar. 24, 201012:00 PM EST

Half-finished, still for sale


The 76-unit The Cove at St. Johns on Goodby’s Creek is about half complete and for sale. According to Dhaval Patel, financial analyst for the CB Richard Ellis Investment Properties/Multi-Housing Team, the FDIC is the seller of the project, but CB Richard Ellis is the exclusive listing agent. “The buyer will have to complete the project. We are selling it as-is,” he said, adding the project is 40 to 50 percent complete. “If someone buys it in the next three to four months, I assume it will take another 12 to 15 months to complete the entire project.”

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