Area’s Newest Savior Buys Again: This Time Kiptopeke Inn
Better days ahead for badly deteriorated Kiptopeke Inn. (Wave photo)
By GEORGE SOUTHERN
Cape Charles Wave
June 13, 2013
Robert Occhifinto, the newest millionaire “come-here” to Northampton County, has done it again, purchasing yet another failed property near Cape Charles – this time the crumbling Kiptopeke Inn.
Built in 1963 as a Holiday Inn, the 104-room motel closed last September after going into receivership. Most recently it was owned by developer Nimrod Tavi.
The Kiptopeke Inn was listed for sale at $995,000, but Occhifinto has shown a penchant for offering pennies on the dollar. He bid $300,000 last year, but his offer was refused.
Robert Occhifinto (Wave photo)
So Occhifinto waited, and more than six months later the owner apparently decided that $300,000 was better than nothing. The sale is expected to be completed soon.
That’s good news for the Kiptopeke Inn, as Occhifinto has already demonstrated that he’s no slumlord. Take a look at the now-gleaming Peacock Motor Inn which he rescued from disrepair last year.
The Peacock will always be for travelers on a budget, but the rooms are bright, clean, and nicely furnished.
Occhifinto, 51, is a New Jersey entrepreneur who made his fortune producing and marketing over-the-counter diet supplements. He is famous locally for purchasing Aqua Restaurant, Bay Creek Marina, and related properties last December for $4.6 million. [Read more…]
