In the past two weeks, I've received a couple e-mails from people who say they want to buy a business on St. John. I offered a few words of encouragement and wished them well. I understand the attraction. Mrs. Inquiring Iguana and I used to be co-owners, with partners, of the Mail Center.
But in the past few days, I've come across two offerings of special interest. Extenuating circumstances, external problems, people who need some help in a challenging time, I don't know. But these seem special to me. Both businesses – and their owners – have great reputations.
The first is Baked in the Sun, the terrific bakery and sandwich place on the third floor of the Marketplace. In November of 2007 it was offered for sale with a price of $450,000. Currently, it is on the Realtors' Multiple Listing Service at $275,000. But there's another listing now, on Craigslist, at a new low price of $150,000.
The second is the vegetarian restaurant on the second floor at the Marketplace, Satyuma. It opened about two years ago. Satyananda (Ofer) and Yamuna (Giuliana) worked very hard and then family duties called and they've been off island. According to Craigslist, things are not going well. "We can’t operate the restaurant from afar and after only 4 months away
we are already having a difficult time keeping up with the rent and
other debts due to medical expenses," says their ad. They've cut their asking price from $75,000 to $39,000.
I told someone the other day if I had $50,000 and knew what expenses I would occur of having to buy equipment I would buy ‘Gym in Paradise’.
I knew ‘Baked in the Sun’ and also ‘Deli Grotto’ have been for sale for a while.
I did not know ‘Satyuma’ as well.
I hope they sell so the medical expenses can be paid.
Lord knows I know what that can be like.
The asking prices are achievable for alot of people, but having an affordable place to live is quite another story.