Prince Is Back...It's Been A Long Wait

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Real Estate Broker/Owner with Daytona Condo Realty, 386-405-4408

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 anxious to Marina Grande on the Halifax - Daytonaknow when it would become official.

After the property was offered for sale, all unsold 414 units in two 25-story towers, plus vacant commercial/retail component, generated quite some interest.  There were at least 5 groups that showed some degree of interest in the project. I knew all 5 of them. With one group I worked closely on the prices, but they did not win it.

Swerdlow Group was the most motivated and aggressively pursued the deal. And they are the best thing that could happen to Marina Grande for simple reason: they have control of the remaining land of the project, and they are willing to complete this ambitious project, even if it means waiting for the market to really warm up.

Anyway, I left for Dominican Republic and the warm weather and the fun pushed it to the background and finally I checked the newspaper yesterday, and noticed Derek Catron’s article “Marina Grande sees new life with old developer”, which was published February 9.

Derek interviewed Brett Dill, President of Swerdlow Group. He also used some fragments of our discussion there. Information by Swerdlow Group that prices will start from under $200K were good news to me, as previously I was told they were higher. I think this is the right thing to do in this market, but this is really a no brainer.

I know that Brett Dill has thought about the market and how he plans to overcome its weakness. Who said that you can’t swim against the current? But it is much more difficult. We will see what the future has in store for Marina Grande on the Halifax in Holly Hill, Daytona Beach area.  

jon zolskyAt this point I am glad that Swerdlow Group is back. The Prince is back. Cinderella has waited long enough...

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Rainmaker
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William J. Archambault, Jr.
The Real Estate Investment Institute - Houston, TX

Welcome home Jon!

Now that you're recharged we'll except great things from your blogging and sales!

Bill

8>)

Feb 16, 2011 02:31 AM #1
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Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Bill - I am in Dominican Republic, at least for another few hours, and then I am flying back, first stop at San Juan, and then Miami, anf then a rental car and 4 hours drive o Daytona. So, i will be home at about 4-5 AM on Thursday

Feb 16, 2011 02:50 AM #2
Rainmaker
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Bob Jakowinicz
National Realty Centers Livonia--Bob Jakowinicz - Livonia, MI
Michigan Real Estate Agent-- MI RE Adventures

Still putting out some pretty good stuff even though your away, pretty cool.  Florida is many times a warm vacation for us here in Michigan, lol.

Feb 16, 2011 04:16 AM #3
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Jack Mossman - The Nines Team at Keller Williams in Lodi
The Nines Team at Keller Williams in Lodi - Lodi, CA
The Nines Team in Lodi

OK Jon, you should be back by now!  Welcome home ... I'd say that we missed you ... but I don't think you dropped a day! 

Feb 16, 2011 11:50 AM #4
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Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Bob - just had to keep myself in shape (LOL).

When I lived in New York, we used to come here in winter and enjoy this warm 57F. Now that we live in Florida, 57F is terribly cold... What's wrong with those degrees, are they get colder?

Feb 17, 2011 12:34 AM #5
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Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

jack - I am back, thanks. And I missed Sunday. There was something wrong with their Internet.

Feb 17, 2011 12:35 AM #6
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