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  Home arrow News arrow Latest arrow Real estate prices, Divorce to Force Closing of Pier
   
Real estate prices, Divorce to Force Closing of Pier PDF Print E-mail
Friday, 02 December 2005

The Long Beach Pier located in North Carolina has been closed, and is scheduled for demolition in February, along with its accompanying tackle shop, motel, and restaurant.
A divorce and rising taxes seem to be the cause of the closing, which is the ninth closing along the North Carolina coast—for reasons ranging from insurance costs to storm damage. Of the 32 piers on the coast in 1996, only 23 remain.

The Pier owner, Tommy Thomas, had to divide his assets with his former wife in a divorce case, so the property is to be divided into 10 lots, with an estimated value of $1 million each.

"It's bittersweet," said Thomas’s son. "I can see Mom's side of it and Dad's side of it."

Hundreds of pier fans came to the pier on New Year's Eve to participate in the last day for the landmark, some buying decorations and benches from the pier.


By Patricia Fuller

Miami Real Estate - Aquablue Realty

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