marina grande: Have You Really Missed the Boat?
- 08/14/11 10:16 AM
Have you really missed the boat and is it too late to buy a condo in Daytona at great price?
The prices in Daytona condo market started stabilizing in the second half of 2010, they are still all over the place, but inventory is lower, fewer choices and in general lower priced units go fast.
We are also down with unsold inventory by a developer except for MG on the Halifax (former Marina Grande on the Halifax) in Holly Hill, and Opus Condominiums in Daytona Beach Shores. Of course, whoever bought units at low prices, are not in distress and will not … (6 comments)
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marina grande: MG on the Halifax. A $6 Mil Addition
- 04/21/11 03:43 AM
April 13 was the Groundbreaking for MG (Marina Grande) on the Halifax. I did not expect such a crowd, and it was the first time when I could not park in the first row of the garage. Sort of gives the feel of how it will be when people actually live there.
The newspaper reported that that the crowd was about 250 guests. I did not count, but it sounds about right. Officials, all Holly Hill City Commissioners and the mayor of Holly Hill, many other people who I do not know, and a sizable group of real estate agents.
After … (3 comments)
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marina grande: Bold Face of Chutzpah
- 04/12/11 04:19 PM
Today was the groundbreaking at MG on the Halifax, better known as Marina Grande on the Halifax, a 972-unit planned condominium development on Halifax River in Holly Hill, Fl.
The front man (and the man for beating if the venture fails – LOL) is Brett Dill, President of Swerdlow Group, which was involved in the initial stage of this development before partying ways with Boca Developers. He is also a managing partner of the new joint Venture.
In the economy which is largely scaled back, Brett's instincts tell him that this is the time for bold moves. And bold he moves.
… (14 comments)
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marina grande: New Models Open at MG on the Halifax
- 04/11/11 08:31 PM
The phone rings and the guy on the other end of the receiver tells me that when he Google Marina Grande on the Halifax, I was «all over the place, so he called me. By virtue of being the only Real Estate agent writing blogs about Marina Grande (or MG on t he Halifax, as it is called now) for years they find me on the first page of Google.
Now, that there are new owners, and there is a team of sales people, it is no longer a place where nobody would give any information about anything. The best answer was … (12 comments)
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marina grande: Building Bridges Takes Longer Than Burning Them
- 03/30/11 06:26 PM
Exactly 2 years ago today I received the following e-mail from the owner of a condo unit in MG on the Halifax (then Marina Grande on the Halifax) in Holly Hill, FL:
«I may be hurting myself in the future, but stay away from this place. Plenty of lawsuits in progress, and Momentis are as big if not bigger liars than Boca Developers. We are being ripped off on Maintenance fees, they are not delivering services, they can't/won't/don't even heat the pool. They have been promising to settle liens since last August and nothing. None of the security features work and … (18 comments)
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marina grande: Perpetuum Mobile... Sort Of...
- 03/28/11 03:56 PM
uniqueness of the situation was that in MG on the Halifax in Holly Hill there were no sales at all for a couple of years at least, so there were no comparables.
And there are no real comparables to MG on the Halifax. It is a different animal. If it were on the Beach, and not on the Intracoastal, it could have been the most prestigious condo development in the area. The ocean still dominates the tastes and priorities for vacationers, but much less for locals. With practically all buyers being out-of-state, being on the ocean is the advantage...
But the … (4 comments)
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marina grande: The Prince and Cinderella. Modern Day Tale
- 03/20/11 05:33 AM
I never met Brett Dill, President of Swerdlow Group, but time from time exchanged e-mails, or, better say, Brett always responded when I would ask him a question. And this earns him the highest mark in my book. I am so tired of all those big secretive bosses in companies like Momentis Property Group, or Cerberus, the previous owners of Marina Grande (can't get used to this new circumcised name «MG on the Halifax») who never returned calls or responded to e-mails.
When I asked if we could meet, he told me when he was going to be in town. And … (8 comments)
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marina grande: To the Owners of Condos in MG on the Halifax
- 03/18/11 06:10 PM
MG on the Halifax (formerly Marina Grande on the Halifax) got a new owner. It is great news for the development. Finally there are people who take the fate of this development to heart, who are there not just to flip the units and walk away with money, but who have the vision, and who would see to it that the other 2 towers are built, and all the amenities as per initial plan are there. After all t he uncertainty, we now know that this beautiful complex will not be circumcised like so many other projects in Florida, that succumbed … (13 comments)
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marina grande: Prince Is Back...It's Been A Long Wait
- 02/16/11 02:28 AM
I left for vacation in Dominican Republic on February 9. A couple of days before it I received a call from Derek Catron, staff writer for our News-Journal. He Googled Marina Grande on the Halifax and saw a series of my blogs about this condo development in Holly Hill, Daytona Beach area.
We chatted about Marina Grande and its chances to rebound considering the fact that there finally was a new owner, and that new owner was the one, who started this project years ago – Swerdlow Group.
I knew that Swerdlow Group was doing due diligence. We were all … (6 comments)
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marina grande: Is He a Genius or Just Lucky?
- 02/08/11 04:18 PM
It is final. Marina Grande on the Halifax, a 972-unit condo development in a sleepy Holly Hill with two of four Towers already in place, has a new owner, Swerdlow Group. The closing was today
Of all the groups bidding for this property, Swerdlow Group is the best for the future of Marina Grande on the Halifax, as they also own the land directly north of the existing two towers. This means that when the market gets warmer, and when they sell of 414 units, they will continue with two remaining towers.
Swerdlow Group was involved in developing Marina Grande on … (14 comments)
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marina grande: Prince Charming with Cash. (Horses are Expensive…)
- 01/12/11 03:43 AM
Marina Grande on the Halifax is a Cinderella of the Condo Market in Daytona Beach area waiting for Prince Charming. With only 54 units sold in South Tower, and 10 in North Tower, and only a few buyers actually living there, this half of the projected 972 units in 4 towers of which only 2 have been constructed (486 units) is a ghost place.
Beautiful ghost place.
If there was rating of ghost places, Marina Grande on the Halifax would undoubtedly be in the first 10 in the world.
But do you want to buy a unit in the most prestigious … (8 comments)
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marina grande: And Then - Bang! or How a Chiwawa Beat a Rottweiler ...
- 11/22/10 03:03 PM
Yesterday I postedWhat We Can See Happening In Marina Grande On The Halifax in Daytona Beach Area.
I ended it with a “Bang!” Something happened that nobody expected. And promised to continue…
Historical part: The GC and a bunch of subcontractors that worked on Marina Grande on the Halifax were not paid, or were not fully paid. General Contractor – Yates & Sons Construction Company - was arguing with Chase for quite some time. They claimed that they were owed over $9 Mil. The Lender squared payments with subcontractors, and the final amount of the Claim of Lien is said to … (11 comments)
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marina grande: What We Can See Happening In Marina Grande On The Halifax in Daytona Beach Area
- 11/21/10 03:36 PM
I have not written anything about Marina Grande on the Halifax in Holly Hill, a small town in Daytona Beach area, and not because there was no drama there. There was and is plenty of drama there.
It is like a huge iceberg, where we see a tiny piece of it. It is not what you see, it is what you do not see, that kills you. But first let’s talk about what we see:
For a long time there were no sales. And there were 3 sales at Marina Grande on the Halifax, all REOs, and all went for unbelievably … (6 comments)
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marina grande: Marina Grande on the Halifax in Daytona Beach. Getting out of Coma?
- 08/31/10 05:43 PM
I have been writing about this Cinderella of the Condo Market in Holly Hill (Daytona Beach area) for close to 3 years. I was there last time 3 days ago. I was showing a 3 bdr/3 bath direct riverfront unit to my customer. He is looking to rent while he is pursuing his Master’s. What an absolutely gorgeous unit. I took some photos and put them in the slideshow, but the unit and the scenery is so much better than the slides…
Last couple of months showed the activity in sales in Marina Grande on the Halifax. Finally the first unit … (7 comments)
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marina grande: Biggest Liar In The World
- 05/05/10 06:14 PM
I still can't believe that this happened. If someone told me in 2005-2006 that it would be possible to buy a 2 bedroom 2 bath unit in super modern luxurious riverfront Marina Grande on the Halifax in Daytona Beach area for $125,000, I would have openly laughed in their face. Actually I would laugh even if someone suggested $250K, or even $375K...
But it happened, a unit on the 20th floor of the South Tower is for sale now at $125K. This is REO. It was sold in December 2007 for $490,000.
Imagine financing it now if the bank … (12 comments)
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marina grande: Marina Grande On The Halifax.... Unchecked Treasure
- 04/11/10 04:21 PM
Here is the update on Marina Grande On the Halifax. Initially Swerdlow Group and Boca Developers bought 12 acres with a Shopping Plaza after Publix moved to Ridgewood Ave (US-1) in Holly Hill. They have also purchased the land to the north, so that they could put Towers 3 and 4 there. Actually, it was not just land. There is an garden style apartment complex there.
April 9 I was at the County Court house at the Foreclosure Auction. I knew that the apartment Complex was scheduled for foreclosure sale and the judgment amount was just a bit over $31 Million.
… (0 comments)
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marina grande: Marina Grande On the Halifax. Small Risk... Big Gain.
- 04/04/10 04:56 PM
Marina Grande On the Halifax. Small Risk... Big Gain.
This is the continuation of Part I Marina Grande On The Halifax in Daytona Beach Area.
There are liens from contractors but the rumor has it that they are working on that now. It may be that we are getting closer to the moment when they start selling those 422 units. It is costing the owner a lot of money as it is, and holding the property is expensive. Even with the taxes slashed 50% for 2009 compared to 2008, the owner faces about $2 Mil a year in property taxes, … (2 comments)
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marina grande: Marina Grande On The Halifax in Daytona Beach Area.
- 04/04/10 04:31 PM
Marina Grande On The Halifax in Daytona Beach Area.
I have written a few blogs about Marina Grande on the Halifax in Holly Hill, a small town in greater Daytona area, in the last couple of years, and looks like Ione of only few people who is following this condominium project.
I think this is because there is practically no information from anybody. So, here is part one.
A Little Bit of History
The plan was to built four 25-storey towers with 972 units on the Intracoastal in Holly Hill close to Seabreeze Bridge. All units with the view of the Intracoastal, … (2 comments)
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marina grande: Marina Grande On The Halifax
- 03/03/10 04:59 PM
It's been awhile since I last wrote about Marina Grande on the Halifax, a failed development by people with great vision, but who, as the rest of us, did not have the crystal ball.
The towers are still there, and the sales are still not there. The legal issues have not been resolved. There are several construction liens, and they have named not only the Association, but every owner as defendants, making it tricky to sell.
There is also an ongoing lawsuit brought by the owners trying to get out with some of their deposits back. One group, the largest, has settled … (7 comments)
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marina grande: Marina Grande On The Halifax. Is It Still Here Or Am I Hallucinating?
- 07/22/09 09:08 AM
Marina Grande On The Halifaxis still there, at least physically, which is encouraging.
It was morning when my phone rang, and it was Bob Koslow, a staff writer for our local daily - New-Journal. I guess he Googled Marina Grande on the Halifax, and ran into my blogs about it on Active Rain. He was working on the article, and we had a very nice chat. He told me to watch the Sunday paper.
I was happy he tackled it. It was unreasonable for the local paper not to say anything about the state of this major condo development in Holly Hill. And this is a … (3 comments)
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Have you really missed the boat and is it too late to buy a condo in Daytona at great price?
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