Well, it’s finally happened. The condo site at the corner of Abbott and Saratoga has been sold. We knew it could happen – we’ve been documenting what’s been happening to this fabled corner for awhile.
And the new owners seem to be serious. They paid $3.8 million for the property – cash. The 2009 assessment for this property was on a total value of $3,284,438.
We’re all wondering whether the Coastal Commission approval for the 12 condos still holds.
Here’s the report from San Diego Daily Transcript:
Ocean Beach property sold for redevelopment
The Ocean Beach corner property a block from Ocean Beach Park at 1984-92 Abbott St. and 5113-19 Saratoga Ave. in San Diego 92107, has been sold for $3.8 million, cash.
The buyer was 1984 Abbott LLC, c/o Clark Realty Capital LLC, 3655 Nobel Drive, Suite 500, San Diego. Clark Realty is an Arlington, Va., headquartered real estate company.
The new ownership plans on developing 12 new townhomes with an average projected unit floor plan of 1,200 square feet. Currently, the property has 16 rental units.
The property seller (assessor’s parcel 448-010-18) was Abbott and Saratoga, LLC, whose members are Tony Struyk, Theresa Struyk, Todd Struyk, Pamela Struyk and Oakcrest Manor SD Inc. Tony Struyk is president of Oakcrest.
Tim Winslow, Ray Adams, Jason Kimmel and Kelly Strickland, of Cassidy Turley BRE Commercial represented the buyer and seller.
Here are some details our blogger/ reporter Allison W. Maris found out:
Abbott & Saratoga LLC is 20% Oakcrest Manor S D, 40% Tony Struyk and 40% Todd D. Struyk all as Tenants in Common. Sidney Frank Importing Co. Inc. is a New Rochelle, New York importer of specialty liquors. Best known for his distributorship of Jagermeister and Grey Goose vodka, Sidney Frank died in Rancho Santa Fe on January 10, 2006 of heart failure a year and a half after he sold the Grey Goose distributorship for $2 billion. …
Oakcrest Manor S D is a California Corporation with an address in Mooresville, North Carolina with a guy by the name of Bill Benson out of Yucca Valley as the agent for service of process according to the December 11, 2009 State of California Business Portal.
Tony Struyk is the agent for service of process of Abbott & Saratoga LLC. T.S. has got to have some more information than what appears on state records. Who is this guy? What can be known about him? Why should we care? At this point the herbal remedies wane… Todd D. Struyk? …
Todd Struyk is the owner of Calpacific Mortgage in University City and a member of the Point Loma Ocean Beach Realty Association as well as Rotary Club 33, San Diego. Todd Struyk is a San Diego real estate agent and loan officer with Calpacific Mortgage. According to the Huffington Post, the Struyk household (including a self employed attorney named Jeff Lake) in Rancho Bernardo gave $5100 to the 2008 Presidential campaign of Mitt Romney.
According to I-Newswire (11/24/2009) a predatory lending suit filed on 11/20/09 in San Diego Superior Court alleged that Todd Struyk, Tony Struyk and CalPacific Mortgage Consultants Inc. engaged in loan sharking. The plaintiff, a disabled, retired sheriff’s deputy named Gregg Carling alleges that the Struyk brothers used a predatory lending scheme to defraud him out of his $3.25 million Point Loma home.
Here is more background on the property, the Coastal Commission approval and whatnot:
Coastal Commission Omission re Condos at Saratoga Park
By Stephen Scatolini / San Diego Reader / Originally published Nov. 16, 2009
City plans for the development of the parcel of land at Abbott Street and Saratoga Avenue have been approved by the California Coastal Commission, but one important consideration seems to have been given short shrift.
Currently there are 15 apartments and four detached buildings slated to be demolished, including a former location of Hodad’s restaurant at the beach. The two alleys that border the west and south sides of the property will be eliminated, and half of the alleys will become the property of the new development. The entire alley area will be turfed for pedestrian use and open space.
The new development includes plans for a 12-unit condominium building over a 27-space subterranean parking garage. Currently there are 14 parking spots for the 15 apartments. The Coastal Commission permit requires that the subterranean parking structure be “water-proof and be designed with a de-watering system.”
The permit further states: “The report therefore concludes that over the last several decades there has been no shoreline retreat in front of the site; it has not been subject to significant flooding, erosion damage or wave run-up attack in the past, including the 1982-83 El Niño winter; and the proposed habitable improvements are above any potential coastal hazard.”
In addition, the report states that “flooding, erosion, and wave run-up will not significantly impact the proposed development over its lifetime (75 years).”