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Condo Hotel Center: Property
Alert
July 23, 2004
ATLANTIC
VILLAGE HOTEL & MARINA
Third Time is the Charm
 Hello.
Joel Greene here from Condo Hotel Center.
The
third time is the charm. How many of us have
heard that silly phrase before and never really understood
its relevance? Well, today Condo Hotel
Center readers, it should
become crystal clear.
Do
you remember on June 28, when I first informed you
of the Atlantic Village Hotel & Marina, a to-be-built,
5 star condo hotel, in Ft. Lauderdale? At that time,
I informed you that this property was downright inexpensive
compared to other condo hotel projects in South
Florida because the developer had zero
land costs, and he was passing the savings on to the
investors.
The
cheapest units available back then were studios, which
started at only $189,500. And, as anticipated, my
phone rang off the hook for the next four days.
Well,
two weeks later, I had an investor from another country
reserve 50 units that he was going to take home and
re-sell to his investors with the developer’s blessing.
The developer informed me that day that he was going
to raise the price of all of his units across the
board by 5%. I asked him, as a personal favor,
to give me 24 hours to alert my buyers before the
price change went into effect, and he did. And, we
sold a bunch more units that next day.
A
week later, he informed me that he had had a flurry
of buyers resulting in 50 more sales, and he was going
to raise his prices yet again by another 5%. On this
news, I did nothing because it seemed to me that the
only property that I was telling my Condo Hotel Center buyers about lately
was The Atlantic Village Hotel & Marina.
So,
why (you must be wondering) am I bringing this up
again for the third time in less than a month? I’m
glad you asked. My foreign buyer had a change of heart
when another investment closer to home became available,
and he decided not to keep his 50 units.
The
developer, again as a personal favor to me, has granted
me until Tuesday to present this property to my buyers
one more time. NOT AT TODAY’S PRICES! But at
the original prices which were in some cases more
than 10% less.
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Unit Type
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Current
Price
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CHC Members
Until Tuesday
Only
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Unit A Mod
Intermed. Room 435.5 sq. ft.
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$263,000-$271,000
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$238,000-$245,000
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Unit A Deluxe
Room
480 sq.
ft.
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$315,000-$327,000
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$279,000-$290,000
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Unit B Junior
Suite
555.5 sq.
ft.
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$358,000-$370,000
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$319,000-$331,000
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Unit C 1
Bedroom Suite
556.5 sq.
ft.
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$364,000-$370,000
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$333,000-$339,000
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Unit D 1
Bedroom Suite
714.5 sq.
ft.
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None Available
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None Available
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Unit E Mod.
1 Bedroom Corp. Suite
779.5 sq.
ft.
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$749,000
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$749,000
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Unit E 1
Bedroom Deluxe Corp. Suite
832.4 sq.
ft.
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None Available
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None Available
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Unit AB 2 Bedroom
Deluxe Suite
1,036.3
sq. ft.
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$674,000-$686,000
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$583,000-$589,000
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You
may remember that you can reserve a unit at the Atlantic
Village
for only $2,500 down regardless of the sales price
of the unit. Hypothetically, if you were to reserve
an AB unit which is now on the market for $686,000,
then I would need my calculator to figure out your
immediate return on your investment!!! A $94,500
profit, on a $2,500 reservation deposit? That’s insanity!
And yet, it is also a reality.
As
always, I’ll make myself available this weekend at
my home 954-450-1929. Although on Sunday, my 6 year
old twin girls, Haley and Lindsay, are having a birthday
party. As much as I love answering my emails, Mommy
says she won’t let me work (much) that day.
Thank
you for your interest in news from Condo Hotel
Center. Please feel free
to pass this newsletter to friends whom you think
might enjoy it. They can sign up for themselves on
our web site at www.condohotelcenter.com.
If you wish to no longer receive our Property Alerts,
just reply to this e-mail and write, "unsubscribe"
in the subject box, and I'll take care of it.
Joel
Greene, Broker-Associate
Condo Hotel Center
A division of Sheldon Greene & Assoc., Inc.
13499 Biscayne Blvd. Ste. 210
N. Miami, FL 33181
PH: 305-944-3090
FX: 305-948-0460
Info@CondoHotelCenter.com
www.CondoHotelCenter.com
www.CondoHotelsDubai.com
www.WorldClassCondoHotels.com
www.CondoHotelsBahamas.com
www.CentralAmericaSecondHomes.com
www.DominicanRepublicVacationHomes.com
Want to know more about me? Click below:
http://www.condohotelcenter.com/joel-greene.html
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