Stone Cold Selling

Howard Wiechern, the managing director of General Properties Inc. of North Little Rock, said the group has been selling Stone Manor Condominiums like crazy during the past few weeks.
In fact, Wiechern said the group has sold $4.4 million worth of property on signed contracts, which accounts for 28 of the 254 condominiums at the gated community in Rogers. The group also has 35 more at various stages of contract negotiations.
“We’re really tickled about it,” Wiechern said. “But the thing that surprised us is we sold almost every three-bedroom unit, but the research said they would be the toughest to sell. There’s actually a waiting list for the three-bedrooms.”
Wiechern said the group’s price points “have been holding up,” and that buyers have been a mix of both young executives and empty nesters. One-bedroom units start at $120,000 while the two-bedrooms start at $160,000.
General Properties purchased the property on Sept. 29 for more than $28 million from T.F. Stone Companies Inc. of Dallas before converting what was formerly known as Stone Manor at Stoney Brook Apartments into condos.
Harris McHaney Realtors of Rogers is the primary listing agent.
General Properties said it is “gearing up” for a rush at the first of the year, since Web traffic suggests interest will continue to climb.
Sells/Clark of Little Rock built the Web site and is managing the online marketing. Co-owner of the marketing firm, Mike Sells, said there have been 4,320 unique visitors and more than 45,000 hits since the site opened on Sept. 29.