Kohary Property at NE Corner of NE 125th and Roosevelt Way NE Sold

Michael R Nelson/Nelson Development LLC recently purchased the Kohary property at the NE corner of NE 125th and Roosevelt Way NE for $1,165,675. This is over $800,000 less than Kohary paid for it (he paid $2 million) in March 2007. I can’t tell if this is a loss sale – or if is just Kohary buying Nelson out of the project. From the property records, it looks like Nelson and Kohary have a buinesss relationship and may have been partnering on the NE 125th and Roosevelt Way NE project before it was cancelled.

I just left a message for Michael Nelson at his office to see if we can learn more about plans for the property, though in the current economic conditions, it will likely be as it is for a while.