News about properties and real estate
Marriott buying Marco Radisson for condos
Attorneys representing an investment trust have requested permission for resort to be converted to a condo building taller than Marco’s limit of 150 feet
The 233-room Radisson Suite Beach Resort on Marco Island has a new owner — Marriott Vacation Club International is buying it for $58 million.
Boykin Lodging Co., a real estate investment trust that trades on the New York Stock Exchange as BOY, announced that the sale is to close June 30.
Only a few ways to reverse action
Homeowner makes big mistake when adding in-laws to title
DEAR BOB: I bought a property, as a married man, as my sole and separate property under my name alone. Then I added my wife and the in-laws to the title. We refinanced and I signed a deed to my in-laws. The title and mortgage is in their names. It seems like they don’t want me to go back on title. Is there anything I can do? I made the down payment from my 401k plan. Please help. –Eric D.
DEAR ERIC: Why would you foolishly add your in-laws to the title to your property? That makes no sense.
A Resurgence in the Bronx Is Finally Putting the Grand Back in the Concourse
During one of the Grand Concourse’s low points, in the 1960’s, the city’s Parks Department decided not to replant grass in the boulevard’s median. Instead, it poured cement and painted it green.
It was an indignity for a street that had once been the Bronx’s most prestigious address — a Park Avenue at middle-class prices.
At 4.5 miles, the Grand Concourse is neither the Bronx’s longest street, nor its busiest, but since it was completed 97 years ago, it has been a barometer of the borough’s economic vitality — its successes and failures reflected in the fading mosaics and fresh graffiti painted on the six-story Art Deco and Art Moderne apartment houses that line it.
Fewer ‘for rent’ signs in Orlando
A survey shows 5,041 vacant apartments in Metro Orlando, the smallest total since 1998.
Finding a vacant apartment in Metro Orlando is harder now than at any time since 1998, as thousands of condo conversions and scarce construction have squeezed the vacancy rate to another record low.
“If you’re on the street looking for an apartment, you’re not going to find much,” said Jim Lewis, president of Charles Wayne Consulting Inc., a Maitland company that has tracked the market for nearly two decades. “You very well may end up on a waiting list.”
South Floridians troubled by higher rents
After just a year in their two-bedroom apartment in Plantation, Carl and Pascale Desir were told their rent would go up by $250, to $1,150.
So they moved into a one-bedroom in North Lauderdale. They’re now thinking about leaving Florida altogether.
”We had to go smaller to stay in our price range. It doesn’t make sense to pay so much just for rent,” said Carl, 27, a math teacher. “We know it’s a possibility the rent is going to go up here, too. You just can’t get settled in anywhere.”
Tower Realty Partners is one of region’s most active investors [Central Florida]
Cliff Stein and Reid Berman have a ritual they follow when they’re considering a real estate investment.
“We try to talk ourselves out of it,” Stein said. “We poke around and look for negatives. If we can’t talk ourselves out of it, we go ahead.”
That conservative approach has apparently worked for the duo, longtime investors in the Central Florida market.