Tuesday, December 6, 2011
Southern Title Insurance Company Lists Charlottesville Office for $945,000
Richmond-based Southern Title announced it would no longer offer new mortgage title insurance in September, after losing millions in an alleged embezzlement episode and "higher than normal" claims from 2005-2008 business. The 4,254 sq ft brick building on the corner of Park and High Streets is ca. 1920, renovated in 2002. It is assessed at $796K. It was purchased in 1984 for $200k, which makes the asking price an appreciation of 350+%. The seller's agent for 401 Park St. is Cushman&Wakefield / Thalhimer. A few doors up is another building for sale: 427 Park, ca. 1860, advertised as a 2,400 sq ft residence and now owned by W&L University; its asking price has been slowly dropping, and is now at $912k (Update: $775k Oct/12) It is assessed at $629k. Image copyright seller's agent.