by Andrew Walden
Got $3.9M burning a hole in your pocket? Unity House Headquarters is up for sale.
The description for the property at 1701 Ala Wai in Waikiki reads:
*******PRICE REDUCED******* A one story concrete office building located at the entrance to Waikiki. Property is grandfathered commercial use. Zoning is A-2 which allows 70 story height limit. Ideal for owner-user or some who wants to re-develop into a small boutique residential condominium project. Seller will vacate upon closing. Property is fee simple. Property can accommodate a minimum of 30-40 units for condo or apartment project depending on size and type of unit. There is presently no sewer capacity until the City and County of Honolulu finishes its sewer upgrade system which is proceeding along Kalakaua Avenue.
Unity House Headquarters was reportedly used as collateral to help secure a $5.8M loan for the December, 2009 Unity House purchase of the Lotus Diamond Head Hotel.
On February 14, the lender MK Pacific, LLC filed a foreclosure lawsuit in Oahu Circuit Court.
It is not immediately clear why a 70 story tower would produce more sewer outflow than Unity House HQ.
LINK: 1701 Ala Wai Blvd
Unity House Rundown: Mel Kahele, Waimanalo Gulch, and other baggage