PORT ANGELES — A 1.9-acre waterfront lot on Oak and Front streets is back on the market after a deal to sell the property to a hotel firm fell through.
It’s now listed for sale at $1.6 million — about twice as much as owner Harry Dorssers paid for it in 2006.
Though a preliminary contract was signed, Dorssers said the prospective buyers of all or part of the lot could not come up with the financing by a Aug. 15 deadline.
Dorssers, owner of Monte Mare LLC, said he blamed the economy.
“Nobody has any money at the moment,” he said from his cell phone in Monaco on Wednesday.
Neither Dorssers, nor his real estate agent, Dan Gase, would comment on who the prospective buyer was, or what they had in mind for the property.
Hotel owner and manager Lincoln Asset Management of Portland, Ore. was named as the prospective buyer in a Port of Port Angeles commissioners meeting in July.
Lincoln Asset Management owns and manages hotels such as Comfort Inns and Suites, Best Western, Holiday Inn Express and others.
Dorssers originally considered building an aquatic center on the property.
Then, he planned to build a $30 million condominium development before deciding to sell all or part of the land for what port officials said would be a hotel.
Now, Dorssers says he is not sure what he is going to do with the site other than list it for sale.
“Right now, I am sitting on it,” he said earlier this week.
“I’m sure in one or two years, something will change.”
Dorssers said he priced the lot in hopes of recouping time and money spent on different designs and prospects for the property over the last three years.
The port sold the property to Dorssers for $797,113.19 in September 2006.
“If I have to sell it for $800,000, that would be a huge loss,” he said.
