An active source in the real estate business has informed me that the Holiday House Motel property located at 320 North Federal Highway consisitng of 11,810 s.f. just sold again. In February 2006, it sold to Holiday House for $2 million. In January 2008, the property was sold to JGB Properties for $1,250,000
The economy is starting to turn and properties are selling. Good news for our small, quaint low rise city.
11 comments:
This is only TWO stories!!!! The new owners must have plans to demolish and build to 65" How else will they be able to make a profit????LOL What fools Loretta and Greg are!Heard Loretta's pac was selling "Bite Me Bornstein" buttons to finance their illegal banner on the Gulfstrem.
Quote of the day.Lynn Anderson
"and properties are selling. Good news for our small, quaint low rise city".
A commercial property that sells for half the price from 5 years ago is not good news.
But coming form someone that doesn't understand real estate, business, capitalism or how to make money your quote makes some sense.
LOL--anonymous at 12:31- Good news that the economy is turning around and people are starting to buy once again and properties are not over-inflated as they once were
LOL--I have a real estate BROKERS LICENSE, anonymous.
That is good news as its an eyesore and the City has ignored it for years preferring to issue code violations to citizens that follow rules.
But, I would be concerned about what the plans are for the property. More townhomes without enough parking or green space clogging up the side roads of the single family historic neighborhood?
Many of these properties on Federal are becoming group homes, rehab centers for drug addicts or halfway houses. Until we know what the use will be we should hold off on the celebration.
@ 12:29: Jokes on you, that's what will happen, just like Midnight Sun down on S.Federal. This place is infested by termites and it has wood base flooring, so its gonna be demolished. I checked it out place in 2009, it was falling apart, wouldn't have paid 500,000 for it back then. That was 4 years ago, 4 more years of no maintenance and neglect. Bring in the wrecking ball, no way will anyone make a dollar to renovate this property. You may think that developers are "whores", but they ain't stupid, wake up!
It was purchased by a Wellington couple who intend to rehab it quickly and reopen it as a motel.
Hopefully they will convert several of the rooms into 2 room suites, thus attracting a more upscale clientele.
Thank God it is not going to be a new townhome development that would soon turn into a rental as all the others in our city have.
Yea those 2 room suites will be a nice compliment to all the blight over there.
When it comes to Obama Lynn you claim he is destroying the economy. Now because 1 rat trap sold the economy is turning around? Which is it?
You have a license. So what. When was the last time you used it to? You know so much about development it's a shock you're not #1 in sales everywhere.
Loretta?
Luckily I made enough money to retire 11 years ago. I did not work in this city.
Do you ever read the news or listen to TV news, anonymous? You would know that real estate is selling.
To continue to attack my credibilty will get you no where.
Then the "upscale " clientele can watch the Hooker's stroll by for entertainment....
talk about raining on peoples' parades----LOL
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