marina grande on the halifax: Marina Grande on the Halifax – Cinderella of the Condo Market - 08/09/10 05:59 PM
I paid my regular visit to Marina Grande on the Halifax to hear same answers to my question “What is happening in Marina Grande on the Halifax”.
And the answer was still “We do not know”
Well, no bad news is good news. However, watching these two gorgeous modern 25-story condo towers staying virtually empty is not what easy to accept.
I again made an attempt to talk to the association manager (and these are the only people on the property since they fired the sales force in February after practically 2 years of inactivity, because they could not fix all … (23 comments)

marina grande on the halifax: Update on Marina Grande on the Halifax in Holly Hill - 05/19/10 04:33 PM
Marina Grande on the Halifax, this magnificent project with 2 completed 25-story towers is still pretty  much a ghost place with very few owners (64 in two) and a few rentals…
The Lender is still trying to clear the legal mess, so that they can start selling the units and start bringing owners who would pay the Association dues.
I think it is already 2 years since Boca Developers returned the property for Lenders. Initially they had several people sales force on the property and no sales. Then they reduced the sales force to two agents and no sales.
Now there … (10 comments)

marina grande on the halifax: 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)

marina grande on the halifax: 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.

marina grande on the halifax: 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)

marina grande on the halifax: 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)

marina grande on the halifax: 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)

marina grande on the halifax: 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)

marina grande on the halifax: Marina Grande on The Halifax, Daytona Beach. Another Month Past. - 06/06/09 06:39 PM
Marina Grande On The Halifax stands as a monument to unfortunate poor timing, coming to the market a little too late. Have they done it a year earlier, this would be a busy place, as once purchased, the units would be either owner, or tenant occupied.
Not now. People who did not agree to close, and instead reached the settlement and got their Earnest Money deposits back, or what was left after they paid their attorneys, So, as far as I heard, 89 people will not close as a result of settlement. Which leaves us with 55 people who bought units in … (12 comments)

marina grande on the halifax: Marina Grande is Still On Hold - 05/03/09 06:19 PM
Marina Grande On The Halifax, a magnificent development that outpaced the local economy and overestimated the absorption capacity of our market, is standing gorgeously tall with its two 25-story towers.
As I wrote before, Boca Developers turned the property to Momentis Property Group, as the company buckled under the debt.
Timing was not perfect, and lawsuits from the Buyers, who were trying to get out and save their deposits hurt the developer. Tied in the court for practically a year, there were 89 cases. As I heard, the lawsuit is over, and people actually got their deposits back. It was a … (0 comments)

marina grande on the halifax: Marina Grande on The Halifax - 04/18/09 01:22 PM
This is coming through the grapevine. Do not rely upon the information here as it has not been verified and may or may not be correct. It is what I heard about the property and the lawsuit.
I already wrote that there was a lawsuit, and we were waiting the outcome to understand what the future has in store for this great project that hit the market at the wrong time.
The whole thing was kept in secrecy. The attorneys for the plaintiff warned everyone to be quiet about the settlement. Settlement... hm, so there is a settlement.
Yes, there is … (0 comments)

marina grande on the halifax: Corporate Freaggin Culture ... Or Lack Thereoff - 03/25/09 05:31 AM
I am an immigrant, came to the country too late to climb the corporate ladder, and this part of American life is unknown to me. Any experience I have with corporations is as a customer.
I recently posted about Marina Grande on the Halifax condominium development in Daytona Beach area. The original developer - one of the largest Florida luxury condo builders - is returning the projects to Lenders. 5 projects have been returned so far in the South Florida, and Marina Grande on the Halifax is another one, that has changed hands.
The new owner - The Momentis Property Group got the two constructed and completed 25-story … (9 comments)

marina grande on the halifax: Evicted From Paradise - 03/14/09 10:34 AM
I wrote a blog If I Were John Rockefeller... and my neighbor and inquisitive mind Lisa Hill, a born Daytonian, left a comment, actually asked a question. I could answer "yes" or "no", but this was a question that I often ask myself. I started answering, and soon I saw that it was more that just a response to Lisa's comment.
In the time of skyrocketing prices, and the money available to any breathing soul, a lot of agents pushed a lot of clients, friends and relatives into the buying spree. It was especially vivid with new condo developments and residential single family … (7 comments)

marina grande on the halifax: If I Were John Rockefeller... - 03/13/09 11:12 AM
We are really in a market full of surprises.
I remember when Boca Developers started marketing their exclusive 972-unit condo development Marina Grande on the Halifax, their sales people were absolutely confident in their company's financial strength to the point of being cocky .
Located on the west side of Intracoastal by Seabreeze bridge, it offered terrific vistas, and the lure of the luxury and comfort never seen before in the area dotted with small commercial, little cottages, mobile homes. These 25 towers came from out of this world. They were supposed to represennt the best in living, a lifestyle destination, a catalyst for … (9 comments)

marina grande on the halifax: Marina Grande on The Halifax - Daytona Beach Condominiums - 11/22/08 04:05 PM
It is actually in Holly Hill, but besides locals who knows about Holly HIll?
Marina Grande on Halifax is a development that started at the height of the market. The feeling was that the further you go, the  more money you make and the more money it would cost.
Planned initially to be right on the Ocean, the developers ran into fierce opposition when they tried rezoning from Tourist to Residential high density. After the people of Daytona Beach gloriously defeated another good idea, the developer settled on this 12-acre riverfront land. However, conceptually they kept it the same way, with the idea of destination condo (concierge, … (25 comments)

marina grande on the halifax: Marina Grande on the Halifax. Market Snapshot - 11/22/07 09:05 AM
Marina Grande on Halifax in Holly Hill is half built. Two 25-story towers out of 4 have been built. They have not yet been any closings, the developer is working on finishing touches.
The project came at difficult time with the slowing market, causing delays in completing the project and a lot of troubles for the those who signed preconstruction at the height of the market. Therefore there are a lot of units put under contract by speculators. The time of closing comes close and a lot of them may face the losing their deposit, as many of them can't or … (0 comments)

marina grande on the halifax: Marina Grande on the Halifax. General Information - 11/22/07 08:04 AM
Marina Grande on the Halifax is a Riverfront 972-luxury Condominium Development in Holly Hill. Located just off the Seabreeze Bridge, the complex includes 200-space Marina on the Intracoastal. Parking garages, some commercial space, and of course, 4 magnificent 25-story towers.

The units laid out an an angle providing for terrific views of the river and the ocean. Each floor consists of 2 direct riverfront 3 bdr/3 bath units, 2 three bdr/three bath units on the opposite side of the building with river, ocean and city views, and 6 two bdr/2 bath units with river views.
Gorgeous project, but not the … (2 comments)

Jon Zolsky, Daytona Beach, FL, Buy Daytona condos for heavenly good prices (Daytona Condo Realty, 386-405-4408) Ambassador large

Jon Zolsky, Daytona Beach, FL

Buy Daytona condos for heavenly good prices

Daytona Beach, FL

More about me…

Daytona Condo Realty, 386-405-4408

Address: 119 S Palmetto Ave., Suite 231, Daytona Beach, FL, 32114

Office: (386) 255-5355

Mobile: (386) 405-4408

Email Me




RSS 2.0 Feed for this blog