JIM THORPE, Pa. | The Flagstaff Event Center in Jim Thorpe has officially sold for a price tag of $620,000.
Tejas Gosai with EXP Realty confirmed the sale and says working as the agent for the listing was an adventure.
Back in July, the center was up for auction with a starting bid of $500,000 and sold. However, the deal fell through.
Thus, it went back on the market as a listing under EXP Realty.
Gosai describes the recent buyer who spent $620K as a local builder and real estate developer.
Engineering work has already started at the site, Gosai said. He added, “We got the best buyer. It’s going to come back to life quickly.”
The space includes Gallo’s Pub, plus the event center and ballroom. The ballroom was built in 1901 as one of three tourist attractions in the borough, along with the switchback rollercoaster and Glen Onoko falls.
Although it’s unknown what the buyer plans to do with the site, Gosai believes the property can be successful at a lesser renovation price than the original million dollar plan to build a hotel and a gondola.