Hot Springs Agrees To Counter-offer In Sale Of Majestic Hotel
by July 8, 2015 1:38 pm 192 views
Content partner KATV Ch. 7 News reports:
The City of Hot Springs agreed on Tuesday night to a counter offer from Gary Hassenflu, the owner of the Majestic Hotel.
The city originally offered to purchase the historic hotel for $680,000.00.
On Tuesday, Hassenflu countered that offer, agreeing to the sale price of $680,000 but wanted to include in the wording of the sale that the value of the property is $2,032,000.00.
Hassenflu also wanted the balance between the value of the property and the purchase price to reflect a $1,352,000.00 donation, on paper, to the city.
The hotel was the subject of a 2013 viral video by Abandoned Arkansas.
While under renovation, the hotel suffered a massive fire in 2014.
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