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Condo Hotel Center: Property
Alert
February
7, 2004
ResidenSea,
The World's First Floating Condo Hotel
 Joel
Greene here from Condo Hotel Center with a little
something to pique your interest. I'm writing
today to tell you about a unique property offering.
Now before I get into my description, I'll state up
front that I know this type of property isn't for
everyone, but in these Property Alerts it's my intent
to make you aware of new condo hotel concepts and
trends. And this certainly qualifies!
I met last week with the Director of Residential Marketing
for The World of ResidenSea. ResidenSea is the
world's first floating condo hotel. Yes, that's
right; it's a condo hotel ship, an exclusive resort
community.
This unique condo hotel continually travels the world
in pursuit of fair weather, natural attractions and
special international events like the Cannes Film
Festival, Carnival in Rio,
the Monaco Grand Prix and Wimbledon
in England.
There are 110 condo hotel units on board. If
you buy one, you can use the residence when you want,
and put it into the rental program when you're not
aboard and share some of the revenue it generates.
Pretty cool, don't you think?
Now, as I mentioned earlier. ResidenSea is not
for everyone. It's a commitment to a certain
lifestyle, and it carries a hefty price tag.
Nonetheless, I spent several hours with ResidenSea's
Director going over the highlights of the program
and came away very impressed. I'd like to pass
along what I learned so I've put together the following
FAQ about the ResidenSea (see below).
I'd be delighted to provide you with more information
upon request if you or somebody you know may find
this of interest. By the way, Condo
Hotel
Center
is one of only three brokers in the country selected
to represent this magnificent property!
Okay, on to the FAQs...
FREQUENTLY
ASKED QUESTIONS ABOUT RESIDENSEA
The World's First Floating Condo Hotel Luxury Resort
1.
Give me some facts about the ResidenSea ship itself.
When was the vessel built and when was it last refurbished?
The full name of the ship is The World of
ResidenSea. The ResidenSea was built and last
refurbished in 2002. It contains 110 apartments
and 88 guest suites. Passengers will total 285 with
a crew of 1,090. The crew is made up of Scandinavians
and professionals from other international countries.
Its operator is ResidenSea USA. It has 12 decks,
is 644 feet, and has a cruising speed of 19 knots.
Its operating area is worldwide. The building
cost is estimated to be $265 million.
2. What is unique
about the ResidenSea?
The ResidenSea is like an exclusive community at sea.
It's much more than a ship on which you take a 10-day
cruise. It is a floating city where people actually
can live on board year round.
When
you're on the ResidenSea, you have the feeling you
are at a luxury resort. The residences are spacious,
beautiful homes, not mere staterooms or cabins. The
ship will sail around the world in pursuit of fair
weather, special international events and the natural
attractions of the world.
3. How large
are the residences?
The 110 residences range in size from 1,106 sq. ft.
to 4,184 sq. ft. The 88 guest suites range in
size from 259 sq. ft. to 648 sq. ft. Buyers
have a choice of five standard floor plans including
penthouses and bi-level residences.
Each
unit features: Two to six bedrooms each with its own
living and dining room area, complete bathroom, fully
equipped state-of-the-art kitchens, private veranda,
some with jet pool, walk-in closets, audio system,
television, VCR or DVD, mobile phone, fax, personal
computer, built-in safe, and 24-hour security.
4. How much
do residences on the ResidenSea cost?
The remaining residences are priced from $1,450,000
to $4,906,000.
5. Are the residences
furnished?
These spacious homes have been designed and appointed
by four of the world's premier interior design firms:
Nina Campbell of London; J. P. Molyneux of New York;
TMT Design by Di Pilla of Milan or Yran & Storbraaten
of Oslo. Prices include furnishings.
6. Are there
any smaller, less expensive residences?
There are studios. These are smaller units but
still extremely luxurious. Each studio apartment
has a sitting area, entertainment center, refrigerator
and cocktail cabinet, writing desk, dressing table,
and marble bathroom with separate tub and shower·
The majority also have balconies for ocean viewing.
Studios
are available in five unique configurations and were
designed by Hirsch Bedner Associates of Atlanta, one
of the foremost design firms serving the hotel and
cruise industry.
7. What are some of
the ship's amenities?
The amenities are almost too numerous to mention.
Some of the highlights are: two large swimming pools,
a full-size tennis court, golf facilities with golf
simulator, driving ranges and putting greens, jogging
track, retractable marina for water sports, Graff
Jewelers fine jewelry store, a state-of-the art health
spa and fitness center operated by world-renowned
Clinique Ala Prairie, first-class restaurants and
cafes and one of the finest wine cellars at sea.
It
also has a travel agency, nightclub, casino, House
of Worship, theater for films and classical concerts,
a medical center with a "surgery theater and three
wards for recuperation", revolving art exhibitions,
library and seminars on everything from astronomy
to oceanography.
8. What are
the maintenance fees?
Fees are allocated according to each unit's proportionate
area. Maintenance fees for residences will range
from $96,586 to $239,567 per year. These fees
include your maintenance fees, shuttle bus and laundry
fees and a $20,400 credit towards your food and drinks.
9. A residence ship
is a very unique concept. How did the idea for
ResidenSea come about?
The concept for The World of ResidenSea was conceived
in 1997 by cruise industry veteran Knut Kloster Jr,
member of the acclaimed Kloster family who pioneered
the modern cruise industry in the early 1960's.
The
Kloster family started Norwegian Cruise Lines (NCL),
and Knut Kloster, Jr. has served as chairman and CEO
of both Royal Cruise Lines and NCL. The ResidenSea
was designed by world-renowned cruise ship designers,
Yran & Storbraaten Architects.
These
same architects designed the Seabourn Pride and Spirit,
the Silver Cloud and Silver Wind, Sea Goddess I and
Sea Goddess II, and the Royal Viking Queen. The ship
was built in Norway and is incorporated in The Commonwealth
of The Bahamas.
10. What are
the anticipated demographics of ResidenSea buyers?
The nationality distribution is expected
to be 40% American, 40% Europe and 20% from South
Africa, Australia and elsewhere. Modern telecommunications
and information technology will enable the residents
to work and run their business wherever they are cruising
or harbored. The majority of the existing buyers
are active business people in their mid-fifties.
They range in age from 33 to 93.
11. What is
the ResidenSea's itinerary?
The ship will sail according to a continuous round-the-world
itinerary focusing on extended stays -- a total of
250 days a year in various ports and visiting the
world's most interesting destinations. Some
of the events to be visited include: Carnival
in Rio, Wimbledon in England, the Cannes Film Festival
and Monaco's Grand Prix.
During
the cruise around the world, destinations which will
likely be visited are: So. Shetland Islands,
Cape Horn, Ushuaia, Chilean Fjords, Puerto Chacabuco,
Valparaiso (Santiago), Arica, Pisco, Callao, Panama
Canal, Puerto Limon, Roatan Island, Belize City, Cancun,
Houston, New Orleans, Key West, Fort Lauderdale, Nassau,
Semana, San Juan, Bridgetown, Las Palmas Tenerife,
Funchal, Lisbon, Gibraltar, Casablanca, Barcelona,
Rome, Venice, Dubrovnik, Corfu, Mahon, La Caruna,
Paris, Falmouth, Greenwich, Olden, Flaam, Oslo, Copenhagen,
Stockholm, St, Petersburg, Takin, Visby, Gdynia, Hamburg,
Amsterdam, St. Malo, Bilbao, Monte Carlo, St. Tropez,
Porto Cervo, Sardinia, Livomo, Portoferraio, Sorrento,
Navplion, Bodrum, Kos, Patmos, Samos, Mykonos, Istanbul,
Yalta, Sevastopol, Odessa, Kusadasi, Rhodes, Ashdod,
Port Said, Suez Canal, Aqaba, Dkibouti, Praslin, Mombassa,
Zanzibar, Mayotte, Cape Town, Walvis Bay, St. Helena,
Ascension Island, Bridgetown and Tortola.
12. How have
ResidenSea sales been to date?
Eighty percent of the apartments, which have
70-year leaseholds -the ship's expected life span
- have been sold so far.
13. Should a
purchase on the ResidenSea be viewed as an investment?
In a word, no. Although your unit can be rented
out as part of the ship's condo-hotel rental program,
the apartments on the ResidenSea are not being sold
as investments. The units all have expiring
leaseholds which make them depreciating assets.
ResidenSea is a lifestyle. It is not a way to
make money. It's an extremely exclusive resort
that combines the excitement of world travel and the
fun of cruising with all the comforts and luxuries
of home.
14. You say
that I can rent out my ResidenSea unit? How
does that work, and what will I receive?
The rental program is run by the ResidenSea management
so renting out your unit is hassle-free. Right
now, 60% of any revenue generated by the rental of
a unit goes to the unit's owner. In the near
future, this number may be increased to 70%, but this
is still in the discussion stage with the ResidenSea's
board officials.
15. Am I allowed
to resell my ResidenSea unit if and when I want?
Yes, owners may sell their residency rights at any
time.
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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