Asbury Park Complex Sells for $3.2 Million (Real Deals)

by George Waldon  on Monday, Feb. 11, 2013 12:00 am  

Asbury Park Apartments are undergoing a facelift after new ownership acquired the 106-unit complex at 8500 Keller Drive in Little Rock. (Photo by Jason Burt)

Auto Acquisition

A former car dealership project in Little Rock drew a $450,000 sale.

Dorothy Ukegbu purchased the one-time home of Crain Chevrolet at 6706 S. University Ave. from Crain Investments Ltd., led by Larry Crain Sr.

Crain acquired the property in two July 2003 deals with the M. LaVerne Jones Trust, $462,000, and Cecil C. Jones Family Trust, $138,000.

Farm Purchase

Farmland near Scott changed hands in a $438,000 transaction.

Ag Resources II LLC, led by Gar Lile, bought 141 acres along the south side of U.S. Highway 165 near Alexander Road. The seller is JDW Inc., led by John Ed Welch.

The deal is financed with a seven-year loan of $375,000 from Pine Bluff National Bank. The land previously was tied to a January 2008 mortgage of $450,125 held by Bank of Salem. The property was purchased in January 2008 as part of a $460,000 deal with Virginia Brown Davis and Joan Brown Dietz.

Rural Residence

A 4,908-SF home in west Pulaski County sold for $624,000.

Gerard Frankowski Jr. and his wife, Kristin, acquired the house from Daniel Waymack. The deal is funded with a 15-year loan of $417,000 and a five-year loan of $82,200 from BancorpSouth Bank of Tupelo, Miss.

The residence previously was linked with a November 2011 mortgage of $490,000 held by Delta Trust & Bank of Little Rock. The property was bought for $460,000 in July 2011 from Martha and Gary Markland.



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