gulfshores condo rental Vacation rentals,indian rocks beach,indian shores, ...Chatham vacation rental condo in lower cape cod massachusetts ma. flight to ...Daytona beach vacation rental condo with 3 bedrooms and 3 baths. http://www.gulfshorescondorental.net Wed, 22 Feb 2012 20:54:29 +0100 FeedCreator 1.7.2 http://www.gulfshorescondorental.net/general/cervera-real-estate-sells-out-all-525-condominium-residences-at-900-biscayne-bay.html Terra Group’s 900 Biscayne Bay luxury residences are now completely sold, which marks the highly-anticipated sellout of the property that played such an iconic role in the revitalization of the area comprised of American Airlines Arena, Bicentennial Park and the Adrienne Arsht Center. Cervera Real Estate served as the exclusive broker for the project since the project’s inception, and maintained sales totaling more than $320 million. The complete sellout adds to a record of more than 40 continuous years of success. The 63-story tower offers views of Biscayne Bay, the Port of Miami cruise ships, South Beach and the Atlantic Ocean. Properties range from “one bedroom plus den" apartments of 1,000 square feet up to the 4 bedroom, 4 ? bath penthouses featuring 3800 square feet, a den, and balconies. “I’m proud to once again lead the successful sellout of a distinctive South Florida luxury condominium project,” said Alicia Cervera, founder and chairman of Cervera Real Estate. “Working closely together as a team with Terra Group, we were able to complete closings three months before the anticipated target date and achieve a price of more than $400 per square foot.” Alicia Cervera added that the sellout at 900 Biscayne Bay is an important benchmark because it shows the renewed local prosperity coming as a result of increased interest in South Florida as a destination for luxury living. Cervera, always in the forefront in representing the best locations, is currently working with local clients to consider new projects. Historically, Cervera Real Estate has the proven expertise and reputation to price projects and sell them at the strategically appropriate velocity. Cervera is proud to note that all the projects the firm has represented were closed by the original developer without construction loan defaults. Terra Group brought Cervera in for its creative forces... articles - General Tue, 20 Dec 2011 21:37:05 +0100 http://www.gulfshorescondorental.net/general/condo-sales-at-lowest-level-since-2008-but-could-be-worse.html Condominium sales activity in the Washington metropolitan area has dropped to its lowest level since 2008, but there is a big difference in market conditions today compared with those at the start of the housing meltdown. There are 2,950 new units being marketed or under construction, compared with 8,833 units in the third quarter 2008. As a result, there is a two-year inventory of units today, compared with an inventory of 7.4 years then. Also, three years ago, 58 percent of all condo projects being marketing were experiencing price declines, compared with 42 percent today. Despite record low interest rates, there were just 356 net sales during the third quarter in the area. During the 12-month period ending September, there were a total of 1,475 sales, similar to the low point in the market during the 12-month period ending September 2008. While economic conditions are playing a role in the reduced sales activity, only one-third of marketed units are considered "fresh," having been on the market for two years or less. Instead buyers are turning to resales. Condo prices declined by more than 5 percent in Loudoun/Prince William and Arlington/Alexandria because of re-pricing at a few projects that have had units on the market for several years. However, prices were up in central D.C. by 1.6 percent. Concession rates are low in the District, as many projects finally reach sell out. Montgomery County saw a drop in concessions from a year ago, as did Loudoun and Prince William counties and Fairfax/Falls Church. The number of unsold units in projects currently being marketing dropped to 2,950 at the third quarter, the first time the segment has dropped below 3,000 units since June 2003. In addition, there are 3,378 units that plan to start sales within the next 36 months and around 12,300 units... articles - General Tue, 20 Dec 2011 21:37:05 +0100 http://www.gulfshorescondorental.net/general/condo-seller-can-not-evade-disclosure-requirement.html A condominium developer violated federal consumer protection law by failing to provide purchasers with a property report prior to their execution of purchase agreements, the 11th Circuit has ruled in affirming judgment. The plaintiffs purchased luxury condominiums from the defendant. Their properties were part of a planned 126-unit development. The plaintiffs later sued, alleging that the defendant violated 1703(a)(1)(B) of the Interstate Land Sales Full Disclosure Act. The statute requires condominium sellers to provide purchasers with a property report prior to their signing purchase agreements. The defendant conceded that it did not provide the property reports, but argued that it was exempt from the Act’s requirements under 1702(b)(1) because only 36 of the units in the development were covered by contracts that obligated the developer to complete construction within two years. The other 90 units were sold under contracts that did not contain the two-year construction provision. Section 1702(b)(1) of the Act exempts subdivisions containing fewer than one hundred units which are not exempt under  1702(a)(2). In turn, 1702(a)(2) exempts properties upon which a contract obligates the seller to erect a building within two years. The court decided that the defendant failed to carry its burden of showing that it had not structured its sales transactions for the sole purpose of avoiding the Act. The court held that that “a developer seeking an exemption under  1702(a)(2) and (b)(1) must produce factual evidence demonstrating that the method of disposition has a real world objective that manifests a legitimate business purpose. The ‘legitimate business purpose’ standard asks the party invoking the exemption to articulate some legitimate business reason for its method of disposition other than the avoidance of the [Act’s] consumer protections.” articles - General Tue, 20 Dec 2011 21:37:05 +0100 http://www.gulfshorescondorental.net/general/developer-of-royal-plaza-condo-building-in-downtown-boise-sued-over-loan.html A mortgage company is suing the developer of the Royal Plaza condo building in downtown Boise over a promissory note it says is in default. Intervest Mortgage Investment Co. Inc. on Sept. 9 sued R.S. Hosac Inc. and its principals in Ada County Fourth District Court in Boise, seeking more than $5 million including interest and fees. Intervest, a Sterling Savings Bank subsidiary, claims it is owed the money even after the developer’s Chapter 11 bankruptcy reorganization and subsequent sale of several units. The suit also names as defendants Nathan W. Hosac and his wife, Heather L. Hosac; and Robert S. Hosac, and his wife, Kristine H. Hosac. None could be reached immediately. No attorney for the defendants was listed in court records as of early Sept. 15, a court employee said. Royal Plaza LLC in early July 2008 delivered to Intervest a $7.8 million note secured by defendants’ commercial guaranties as well as a December 2005 deed of trust, assignment of rents and security agreement. Defendants failed to pay the balance by the note’s early April 2009 maturity date and after Intervest sent a default notice the next month. Royal Plaza LLC in early December 2009 filed for a Chapter 11 bankruptcy reorganization. “The Plan of Reorganization was partially successful. However, certain portions of the real property were not sold or transferred under the Plan, and defendants have not made the plaintiff whole,” Intervest’s complaint says. The reorganization included an auction of Royal Plaza units in May 2011. Later, four commercial units and two residential units were sold for a combined $1.5 million, reducing the amount owed to nearly $5.79 million including principal, interest, late charges and fees, the complaint said. None of the live, public auctions of downtown Boise condos benefited developers, said Bryant Forrester, an agent with Urban Concepts at Homeland Realty, Boise. Auctioned... articles - General Tue, 20 Dec 2011 21:37:05 +0100 http://www.gulfshorescondorental.net/general/drowsy-retail-condo-market-shows-some-life.html RETAIL CONDOMINIUM SALES are picking up slightly from activity levels plumbed during the downturn, but buyers remain price-sensitive. Last week, the ground-floor retail space at the Apthorp, on the Upper West Side, sold to William Friedland Co. for $37 million, or $2,500 a square foot. And Beck Street Capital announced in December that it had sold its Bleecker Street retail portfolio for $34 million, roughly $6,700 a square foot. "We're seeing an uptick in retail condo transactions, particularly in good locations," said Kevin Comer, senior managing director at Beck Street. Because they are such lucrative assets for landlords, retail condos in high-end spots are rarely for sale. Mr. Comer said Beck Street sold the portfolio only because it was held in a partnership agreement that was ending. Even a little bounce might help investors who, led by the Washington-based Carlyle Group, have been trying to sell a retail condo at 666 Fifth Ave. for almost a year. Though the property, between West 52nd and West 53rd streets, is on the city's costliest retail strip, potential buyers have balked at the price-reportedly $600 million to $700 million. Downtown, a landlord put a retail condo at 157 Chambers St., between Greenwich and Hudson streets, on the market for $7 million six months ago. No takers there, either. articles - General Tue, 20 Dec 2011 21:37:05 +0100 http://www.gulfshorescondorental.net/general/okc-based-macco-properties-fights-sales-in-bankruptcy-court.html A bankruptcy trustee for embattled Macco Property Inc.’s vast real estate holdings wants to sell some of the property off, including a luxury high-rise condominium in Dallas valued at more than $2.5 million and several run-down apartment complexes in the metro area. Macco Properties’ owner, Jennifer Price, wife of Macco President Lew McGinnis, is fighting the sales in U.S. Bankruptcy Court. Price is asking the court to block the sale of 11 properties Macco owns or has equity in, including a 3,049-square-foot condominium on the 18th floor of the Claridge, a luxury high-rise condominium complex in Dallas. The building’s amenities include imported Spanish marble, hand-scraped oak floors, 24-hour valet service, a swimming pool, sauna and racquetball court, according to a website for the property. The condominium is worth more than $2.5 million, Macco reported in court documents. Macco Properties was tricked into agreeing to let a court-appointed trustee take over its business operations in May, at a time when the company lacked adequate legal representation, Price said in court documents. The property management company, with real estate holdings valued at $131 million, has been through several attorneys since filing for Chapter 11 bankruptcy in November. “They don’t want all of the properties liquidated wholesale in the matter indicated by the bankruptcy trustee,” said Terrance Hiller, an attorney in Southfield, Mich., who represents Macco. “They’d rather the business continue to operate like it was before the bankruptcy.” Michael Deeba, a court-appointed trustee for Macco, has asked the bankruptcy court for permission to hire real estate brokers to sell off some of the company’s properties. Apart from the luxury condominium, the other disputed properties include the 220-unit Remington Apartments, 7125 S Santa Fe Ave.; the 132-unit Newport/Granada Apartments, 3407 NW 39th and 3405 NW 40th St.; the 111-unit Emerald Court Apartments, 4746 NW 23rd St.; the 130-unit Winslow... articles - General Tue, 20 Dec 2011 21:37:05 +0100 http://www.gulfshorescondorental.net/general/residential-condo-experts-expand-into-commercial-marketplace.html Pordes Residential Sales Marketing has opened a commercial division, Pordes Commercial, that capitalizes on the firm's unique skills in positioning properties and bulk sales. The company is bringing on several new agents and selling more properties than any other firm in the market. Pordes has extensive experience in complex, large-scale commercial transactions. The company brokered the $125 million sale of 146 units at a luxury condominium at 2700 N. Ocean Drive on Singer Island. That deal satisfied the lender, relieved the developer of liabilities and provided the investors with a prime oceanfront property at an excellent price. The property has now been repositioned as Ritz-Carlton residences. Other large-scale transactions include: "Launching the commercial division was an easy decision," says Michael Internoscia, vice president of sales for Pordes. "We have completed five large commercial transactions in the past 12 months without having the division, so it was just time." "We were already experiencing strong demand for our commercial property services," said company founder and president Mark Pordes. "Companies were seeking us out for our experience and expertise." Pordes Commercial has just listed a $1.75 million parcel for One West Las Olas Boulevard in Fort Lauderdale, a proposed 10-story professional office building at the corner of Andrews Avenue and Las Olas Boulevard in downtown Fort Lauderdale. The 47,000-square-foot project will have premium ground floor retail space and nine floors of Class A office space. The units of 1,000 square feet or more can be owner occupied or leased. Units have open plans and large windows at a Las Olas address. The building site is along Riverwalk, a short walk from the Broward Center for the Performing Arts, Broward County courthouse and Florida Philharmonic. The offices will be just 10 minutes from Fort Lauderdale-Hollywood International Airport and Port Everglades. articles - General Tue, 20 Dec 2011 21:37:05 +0100 http://www.gulfshorescondorental.net/general/sales-are-soaring-at-trump-hollywood-oceanfront-condominium.html Trump Hollywood, the newest luxury oceanfront condominium in Hollywood Beach, Fla., is riding a wave of sales success. In the past three months, 19 residences totaling more than $25 million have been sold, according to Daniel Lebensohn, BH III LLC ("BH3") Managing Partner, the property's new owner and developer. Trump Hollywood was acquired in late 2010 by BH3, a successful South Florida-based real estate firm, and King Street Capital, a $20 billionNew York-based global alternative investment management firm. Supported by Trump, The Related Group and Fortune Development Sales, the team has launched a new era at Trump Hollywood highlighted by updated pricing on all the residences. Lebensohn noted buyers include South Floridians planning to use Trump Hollywood as a primary residence and second-home purchasers from Canada, Latin America, New York and Chicago. "Savvy buyers are realizing that Trump Hollywood is not only the most elegant, upscale beachfront condominium in South Florida but also represents tremendous value," he said. "Our new pricing structure has been a key component to the recent success." Trump Hollywood is ideally located between Miami and Fort Lauderdale, just minutes from such renowned destinations as Bal Harbour Shops, Aventura Mall, Las Olas Boulevard and South Beach and a short stroll from the city's celebrated boardwalk. The 41-story contemporary glass tower, fronting 240 feet of pristine beachfront on the Atlantic Ocean, features 200 expansive residences, each with private elevator access and spectacular ocean, Intracoastal and city views. Trump Hollywood residences are now priced from over $700,000 to over $6 million. Trump Hollywood's gleaming floor-to-ceiling windows and curved exterior were conceived by celebrated architect Robert M. Swedroe. World-renowned interior design firm Yabu Pushelberg provided Trump Hollywood with a modern twist on classic Miami. "Trump Hollywood is one of the finest luxury condominium developments on the East Coast," said Donald J. Trump, Chairman and Chief Executive Officer... articles - General Tue, 20 Dec 2011 21:37:05 +0100 http://www.gulfshorescondorental.net/general/sl-green-realty-corp-announces-sale-of-retail-condo-units.html SL Green Realty Corp. (NYSE: SLG) and its joint venture partner Jeff Sutton today announced an agreement to sell two retail condominium units at 141 Fifth Avenue for $46 million. The two retail condominium units being sold represent all of the interests owned by the joint venture including the entire grade and a portion of lower level space, encompassing approximately 9,860 square feet in a luxury Flatiron residential property situated two blocks south of Madison Square Park. SL Green’s purchase of 141 Fifth Avenue in September, 2005 was one of its first retail acquisitions with joint venture partner Jeff Sutton. The transaction is expected to generate approximately $17.5 million in net proceeds to SL Green. SL Green President Andrew Mathias commented, “SL Green continuously looks to take advantage of evolving market conditions to enhance both its office and retail portfolios with selective dispositions and acquisitions. We are very pleased with the growth and success of our retail platform and anticipate making more strategic investments in the near-term.” The transaction is subject to certain closing conditions, including the lender's approval of the transfer of ownership. There can be no assurance as to when the conditions precedent contemplated in the sale agreement will be fulfilled, or that the transaction will be consummated. Eastdil Secured represented the seller and Eastern Consolidated represented the purchaser in the pending transaction. Company Profile SL Green Realty Corp., New York City's largest office landlord, is the only fully integrated real estate investment trust, or REIT, that is focused primarily on acquiring, managing and maximizing value of Manhattan commercial properties. As of September 30, 2011, SL Green owned interests in 58 Manhattan properties totaling more than 35.3 million square feet. This included ownership interests in 25.8 million square feet of commercial properties and debt and preferred equity investments... articles - General Tue, 20 Dec 2011 21:37:05 +0100