Deal To Buy Charlotte's Excelsior Club Falls Through
A deal to buy the historic Excelsior Club has fallen through.
In June, the brokerage firm handling the sale said an unidentified California investor had agreed to purchase the property on Beatties Ford Road. In a Facebook post yesterday, Dan Morrill, the consulting director of the Charlotte-Mecklenburg Historic Landmarks Commission, said the commission is back to "ground zero."
Morrill told the Charlotte Observer that the prospective buyer terminated the offer because the owner would not adjust the contract price.
Steve Robinson, owner of New River Brokerage, which is handling the sale, told WFAE the contract price was not for the full $1.5 million that was originally listed for the property.
"The owner and I are back to pursuing the successful marketing and sale of Excelsior," Robinson said. "Much progress appears to have been made with the city along the way, so we're excited to share this opportunity with a new potential suitor."
The Excelsior club opened in 1944 and became a focal point of African American social and civil life in Charlotte. It closed three years ago and is now owned by former state Rep. Carla Cunningham, the widow of the club’s former owner.
An earlier version of this story identified Dan Morrill as director of the Charlotte-Mecklenburg Historic Landmarks Commission. He's now the consulting director.