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 to the slower market.
But how does it affect those 72 owners who already own units there?
There are 414 unsold units for sale. The new prices start from $187,500. A few years ago this would have been a terrific price, and there would be a long line of people eager to buy. However, even today it is a great price. Maybe the lines are not going to be as long, but these prices are real.
Recent few resales in MG were very low priced, but they were foreclosures and short sales snatched by cash buyers.