Fayetteville hotel draws lone bid in latest auction
Posted December 15, 2014
Fayetteville, N.C. — A Fayetteville landmark didn't attract much attention during its latest turn on the auction block, garnering a single bid over five days before the auction closed Monday afternoon.
A buyer going by the name "pchholdings" bid $200,000 for the Hotel Prince Charles in the online auction. It marked the third time in eight years the 88-year-old hotel had been sold to the highest bidder.
Developer David Levinson bought the hotel, at 450 Hay St., in 2012 and planned to spend $4.5 million to transform it into a mix of office space and 80 downtown condominiums. That plan was shelved after copper thieves destroyed the building's plumbing, wiring and ventilation system a year ago.
The building was twice declared unsafe for habitation a few years ago.