Tuesday, August 18, 2009

Commercial Real Estate Developer Owns Stony Point Mansion Destroyed By Fire

Title to the vacant Stony Point mansion that was destroyed by fire on Sunday, August 16 is held by Darren Kady, who has some commercial RE concerns outside the Commonwealth.

The Newsplex reports that the fire, which reduced "Southwind Manor" to rubble, is still under investigation. The blaze required more than 50 firefighters and took more than 6 hours to bring under control.

Darren Kady and his wife, Deborah, listed 4595 Belle Vista Drive, a 4 bed, 4 bath, 7,000 sq feet mansion, and 115 acres, for sale for $3.8 million. The land is assessed at about $1,4M, as was the house, for a total of $2.8M; there is no information available on previous sales prices.

According to Realtor.com, the property has been listed for 623 days with MLS# 447134 through "The Land Office" and agent Jim Bonner, brokered by Roy Wheeler Realty (where periodic blog commenter Michael Guthrie is CEO). Smaller parcels of land are also available for sale.

A quick search on the net will show owner Darren Kady as (former?) "CEO" of "Bay/Max Commercial Properties" a company that has business concerns in NC and KY. The Manta listing describes this as a "private company" using the same mailing address as the owners of "Southwind Manor," with an annual revenue of $500K- $1M, employing a staff of 5-9 people. Among the modest projects searchable on the 'net, last December, Kady and his wife received a grant from the City of Louisville, Kentucky, to redevelop an old K-Mart on Beulah Church Road. More current RE transaction info is unavailable.

The listing for 4595 Belle Vista Drive no longer appears on the local MLS at CAAR.com, though the Realtor.com website still lists it as "active" (and shows the listing was "refreshed" in the early a.m. of Monday, August 17).

The Hook reports that the property was for sale years ago, and gives details of the 2001 listing, which was lauded by Forbes Magazine as one of the "Best Houses in the Safest Places." (Note that the earlier listing had a similar price, but much more acreage.)

Photo: After the fire, from The Newsplex.

1 comment:

Anonymous said...

The insurance claim investigator on this one will sure have their work cut out for them. If the fire was incendiary in nature, house listed for a bazillion days and the house was vacant - ruh roh