Don’t Buy a Condo Hotel Until You’ve Read This

St.Croix (PRWEB) September 7, 2006

Before investing in a Condo Hotel project potential investors need to read a case study prepared by Frank Arena Editor of investsmartnewsletter.com

Case study 101

There are many different types of condo hotels. Condo hotels sell for $ 300,000 to millions of dollars. Let’s review two examples of condo hotels being offered in the Orlando/Kisssimmee Florida area.

One option is new construction ranging from $ 400 per square foot to $ 700 per square foot.

A second option is conversion of an exiting franchise hotel. These units are 331 sq.ft. and sells for $ 272 psf. Let’s compare the two investments and see which one makes good dollar and cents.

If you purchase a 400 sq. ft. unit for $ 600 per sq. ft., your purchase price would be $ 240,000. With 10% down and 30 year amortization at 6.5% interest rate, payments would be $ 1,390 per month.

The monthly income for this condo hotel based on the national occupancy rate average of 57.1% (percentage of hotel rooms used) and national average daily rate of $ 94.94 (the amount charged per room), according to Smith Travel Research would be $ 1700. per month.

First Release Homes Offers Homebuyers the Best Value and Selection when Purchasing a Pre-Built Home or Condo

San Francisco, CA (PRWEB) June 19, 2007

Through a recent partnership with Clayton Homes, one of largest manufactured home builders in the country, First Release Homes (http://www.firstreleasehomes.com) now offers homebuyers the option to search for manufactured pre-built homes in more than 400 cities nationwide. A manufactured home is built entirely in the factory under federal code administered by the Department of Housing and Urban Development (HUD). Building materials are purchased in bulk, assembled under the highest standards and delivered to the home site.

Today’s factory-built homes bear little resemblance to their predecessors – the boxy, narrow, flat-roofed mobile homes of the past. Now, uniquely designed factory-built homes are taking their places in more and more communities, including traditional subdivisions. Built indoors and shipped to the homebuyers selected destination, these new homes offer a challenge for those who think they can tell the difference between factory and site-built houses.

“Factory-built homes offer exceptional value and provide homeowners with more amenities than ever before,” says Chris Nicely, Vice President of Marketing for Clayton Homes. “Additionally, the efficiencies and quality of factory craftsmanship make it possible for buyers to get more home for their money.”

With the availability of numerous financing options and an industry-wide commitment to design excellence comparable to traditionally ground up construction, factory-built housing is now an exciting and affordable alternative for homebuyers.”

We are very excited to add one of the largest manufactured home builders to our growing list of quality builders and developers across the country seeking to showcase their pre-released or just released homes, condos, town homes, lofts, master planned and resort communities to a highly targeted home buying audience in the early stages of planning and development,” says James Uberti, President and CEO of First Release Homes.

About First Release Homes

First Release Homes, Inc. (http://www.firstreleasehomes.com) is one of the largest coming soon and just released new home resources for homebuyers and investors seeking the best value and selection to locate, track and purchase a new home the moment it’s released for sale often before the general public becomes aware of the initial release through traditional marketing and advertising. For more information about First Release Homes or to become a featured builder please visit us online or call toll free 888-907-7770.

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Katzman Garfinkel & Berger Partners Offer Free Educational Seminars at South Florida Condo & HOA Expo

Miami Beach, FL (Vocus/PRWEB) March 28, 2011

The Florida community association law firm of Katzman Garfinkel & Berger (http://www.kgblawfirm.com), with statewide offices in Ft. Lauderdale, Maitland/Orlando, Boynton Beach, Miami, West Palm Beach, St. Augustine and Naples, today announced that firm partners Leigh C. Katzman and Donna DiMaggio Berger will provide two outstanding educational seminars during the daylong South Florida Condo & HOA Expo on Thursday April 7th at the Miami Beach Convention Center.

Board members, officers and managers of Florida condominiums, HOAs and other community associations are encouraged to register free of charge to attend these two afternoon seminars on Thursday April 7th:

LEGAL UPDATE – THE BOTTOM LINE ON THE 2010 LEGISLATIVE CHANGES & PREVIEW OF 2011 LEGISLATION, 2pm – 4pm:

Presented by Donna DiMaggio Berger, Managing Partner of Katzman Garfinkel & Berger, this course will deliver an overview from the State Capital of pending 2011 legislation and address the “pros” and “cons” of 2010 legislative changes, how they affect community associations, their impact on collection of rents from tenants in delinquent units, suspension of use rights, fire-sprinkler retrofit extensions and foreclosure practices.

CREATIVE COLLECTION STRATEGIES IN TRYING TIMES, 5pm – 6pm:

Presented by Leigh C. Katzman, Founding Partner of Katzman Garfinkel & Berger, this fast-paced course will discuss advanced collection practices and techniques to allow associations the best opportunity to collect past due assessments from unit owners AND the banks, as well as how to take advantage of the new laws granting associations additional tools in the collection process.

Register for these free courses at: http://www.condohoaexpo.com/seminars.aspx

Participants in the seminar on “Creative Collections Strategies in Trying Times” will also receive a free copy of Katzman Garfinkel & Berger’s 23-page “Community Association Assessment Collection and Foreclosure” guidebook for community association Board members and managers.

Community Association Manager participants in Donna DiMaggio Berger’s “Legal Update” course will receive two (2) hours of Continuing Education credits (CEUs) through the Florida Department of Business & Professional Regulation (DBPR) toward annual renewal of their LCAM license.

Board members at South Florida condos, HOAs and other community associations are encouraged to stop by and visit Katzman Garfinkel & Berger at Booth #526 in “Hall D” (immediately to the right as you come in the Show Entrance) to pick up their complimentary KG&B “Board Members Do It For Free” tote bag in recognition of the invaluable volunteer service they perform as Board members of their communities.

Registration for the South Florida Condo & HOA Expo is absolutely free for community association managers, board members, board presidents, active HOA members and industry professionals. Advance online registration for the trade show and conference is available now at: http://condohoaexpo.com/register.aspx.

Katzman Garfinkel & Berger is a full service statewide law firm devoted to all aspects of community association representation. In addition to handling sophisticated transactional law matters on behalf of its community association clients, KG&B is one of the first law firms to advance all fees and costs for its lien collection and foreclosure cases and remains one of the only law firms still doing so in today’s real estate market. KG&B also handles property damage claims against insurance companies, as well as most construction defect claims against developers on a pure contingency basis.

Named as one of the “Best Places to Work” in 2009 by the South Florida Business Journal, the firm has also been designated as “One of the Most Distinguished Law Firms in America” by Martindale-Hubbell, a peer review rating system spanning more than a century of service evaluating American Law Firms.

For more information about the Florida statewide community association law firm of Katzman Garfinkel & Berger, please visit: http://www.KGBLawFirm.com.

About Katzman Garfinkel & Berger (KG&B):

Katzman Garfinkel & Berger is a statewide Florida law firm devoted to community associations with seven strategically located offices throughout the State of Florida. The firm offers residents living in all types of common interest ownership communities a complete set of services including general corporate representation, lien collection and foreclosure, first party insurance claim recovery and construction defect litigation. It was one of the first firms to advance all fees and costs on behalf of communities that are forced to pursue collection of delinquent assessments. For more information, please visit: http://www.KGBLawFIrm.com.

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Federal Courts Rule Against Buyers Seeking to Back Out of Contracts for Condo Purchases

Long Island City, NY (PRWEB) March 23, 2010

In a legal decision with major implications for the New York City residential real estate industry, two federal judges recently rejected claims by purchasers seeking to get out of condominium purchase contracts based upon the Interstate Land Sales Full Disclosure Act (ILSA).

The rulings are a victory for numerous condominium projects including One Hunters Point and Hunters View condominium developments in Long Island City where some buyers refused to close and relied upon ILSA as the basis for demanding return of their down payments.

Although largely unused, the law came into play as the housing market began to collapse and buyers who bought pre-construction condos sought to get out of their deals and recover their down payments.

“We are very pleased by the court rulings and look forward to completing our highly successful sales program at the Hunters View and Hunters Point condominiums,” said Joseph Simone, President of Simone Development Companies, the developer of the Hunters Point Condominiums. ”

One Hunters Point, which is located on Borden Avenue near Vernon Boulevard, features 131 one-, two- and three-bedroom luxury residences, with most offering spectacular waterfront views of the Manhattan skyline. Hunters View, which is located three blocks away on 49th Avenue, features 73 one- and two-bedroom residences and the same high quality finishes and lifestyle amenities as One Hunters Point, as well as panoramic views of the Manhattan skyline.

One Hunters Point and Hunters View are 75% sold and owner occupied. Construction is 100% complete including the common areas. Only the best homes remain with Manhattan skyline and river views and homes with expansive outdoor spaces including private gardens.

In addition, the 421a tax abatements are in effect and both buildings have FHA approval which allows buyers to put down only 3.5% down payments. The homes are priced from $ 500,000 to $ 1,300,000. Immediate occupancy is available.

Hunters Point Condominiums are convenient located just a short walk to the subway that takes five minutes to reach Grand Central Station and seven minutes to Times Square. In addition, the Midtown Tunnel and the LIRR are a block away and the New York Water Taxi is just steps away at the corner of Borden Avenue and Second Street.

Buyers at Hunter Point Condominiums are also attracted by the wealth of first-class lifestyle amenities such as 24/7 concierge service, valet, fitness center, residents’ lounge and communal gardens. As a unique option in both buildings, residents can have their own private roof-top terrace, an outdoor space about the size of a living room equipped with gas grill and water connections where they can relax and enjoy the waterfront and Manhattan skyline views.

Hunters Point Condominiums are located in the Hunters Point District of Long Island City which has emerged as one of the city’s trendiest new neighborhoods and is considered by many to be the next So-Ho or Tribeca. The area offers a wide array of retail options on Vernon Boulevard and a thriving artist community anchored by the world-renowned P.S. 1 Contemporary Art Center. An affiliate of The Museum of Modern Art, P.S. 1 is the oldest and second largest non-profit arts center in the nation solely devoted to contemporary art. Also nearby are the Noguchi Museum and the Socrates Sculpture Park, as well as a number of other galleries and museums. This long-established neighborhood also includes a farmers’ market, several small charming restaurants, parks, schools and child-care facilities.

For more information about One Hunters Point and Hunters View, call Brown Harris Stevens Project Marketing at (718) 361-7800 or visit the website at http://www.hunterspointcondos.com

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Orlando Condo Market Heats Up

Orlando, FL (PRWEB) January 27, 2007

While the majority of the condo market has slowed, the Orlando condo market is still as hot as the Florida sun. In order to keep up with the demand of Orlando condos, http://www.NewCondosOnline.com has unveiled 27 new condo developments in Orlando.

With the many positive aspects of Orlando such as mild weather, proximity to Disney World, conventions, and a growing business population driving the market, Condos in Orlando are still a wise investment. http://www.NewCondosOnline.com, the first and largest new condo advertising website in the country, is welcoming these buyers with their brand new Orlando condo developments.

http://www.NewCondosOnline.com recently began a partnership with The Condo Store based out of Atlanta to help market many new condo developments online. With a network of over 20 million unique visitors per month, http://www.NewCondosOnline.com has broadened to reach the already booming Orlando condo market.

Tradition Towers is an amazing new property just added to http://www.NewCondosOnline.com. This 39 Story luxury mixed use condo project will transform the skyline of downtown Orlando and offer an amazing alternative to single family homes in this market. The project is also attracting buyers from all over the world. Their mission is “to provide a highly unique opportunity for luxury condominium living within the revitalized and rejuvenated downtown district of Orlando.”

Capri at Hunter’s Creek is a brand new condo conversion in Orlando on http://www.NewCondosOnline.com with units starting from only $ 140,000. Capri at Hunters Creek offers one, two and three bedroom condominium homes in the heart of it all in Orlando and offers a great product for first time home buyers and investors.

Intermezzo at The Rialto is another great new condo project by Wood Partners that is now showcased on http://www.NewCondosOnline.com. With units from $ 300,000, this property offers a large array of amenities and fits perfectly into the Orlando condo market.

More information about all these brand new Orlando condo developments can be found on the Orlando Condo page of http://www.NewCondosOnline.com.

http://www.newcondosonline.com/orlando-new-condos

About http://www.NewCondosOnline.com:

http://www.NewCondosOnline.com is quickly becoming the best resource on the internet for buyers to find and compare new condos, pre-construction condos, condo conversions, town homes, and lofts across the country. In turn, they are rapidly gaining popularity as the best choice for ad placement on the internet for builders and real estate marketing firms.

Contact:

Brandon Fishman

New Condos Online

http://www.NewCondosOnline.com

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WorldQuest Resort Introduces Phase III of Luxury Orlando Condo Hotel after Successful First Year

Orlando, Florida (PRWEB) May 23, 2007

With a successfully launch of hotel operations in September 2006 and Phase II starting hotel operations in September 2007, Orlando condominium resort WorldQuest Resort is pleased to announce ground breaking for buildings 6 and 7 (Phase III). Phase III will bring another 68 new units online for hotel operations in early 2008, and purchasers in Phase III will have the option to participate in the Lease-Back Program, which provides two-years of rental income. Also, for a limited time, WorldQuest Resort is offering reduced deposit requirement as low as 5% for all preconstruction units.

The Orlando condo hotel purchase offers ownership in units ranging from 1,286 square feet to 1,547 square feet with Mediterranean architecture, well-appointed interiors, high ceilings, full kitchens, whirlpool tubs, and private patios. WorldQuest’s luxury clubhouse amenity features a fitness center, coffee bar, business center, and signature 10,000-square-foot swimming pool. Owners may opt to put their units in the resort hotel rental program and still maintain access to the unit at their leisure in both peak and off season.

The development of Phase II and sale of Phase III of the Orlando condo hotel follows an extraordinarily successful first year, having achieved the AAA Three-Diamond Award — the highest rating for a condominium resort property — and continuously earning top revenue on Expedia.com. Units in the on-site management program have shown demonstrated success, with 100% occupancy over the 2007 Spring Break season, and current owners report a high level of satisfaction with their purchase.

Adding to the property’s roster of first-year accolades, WorldQuest Resort was recently named a Walt Disney World Ticket Destination. In addition to complimentary shuttle service three times per day to Walt Disney World, guests of the luxury condo resort can also purchase discounted rates and tickets through the WorldQuest concierge for all Disney Parks, Universal Studios, SeaWorld, Kennedy Space Center, local attractions, or dinner shows. For WorldQuest Resort and its Orlando condominium resort owners, it is an honor to be a Walt Disney World Ticket Destination.

Situated just minutes away from Disney World, Universal Studios, Falcon’s Fire Golf Club, and Epcot Center, WorldQuest Resort, one of the newest luxury Orlando condominium hotel developments, is a natural draw for international leisure travelers. Within 15 minutes of Orlando International Airport and 10 minutes from the Convention Center, business travelers and groups find the property equally attractive.

About WorldQuest Resort:

Located in one of the world’s most popular destination, the Orlando condominium resort development features full ownership opportunities in over 650 luxury suites accompanied by a successful, high-occupancy on-site management program, making the accommodations available to business and leisure travelers. A top room revenue generator on Expedia.com and AAA Three-Diamond rated condominium resort property. WorldQuest Resort offers owners a unique Orlando condo hotel purchase.

Published Contact Data:

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Legacy Marketing Announces Condo Hotel Renovation Program

ORLANDO, FL (PRWEB) March 7, 2007

Scott McCoy, VP Marketing, Legacy Marketing International Inc. announced today that the following Legacy Grand hotels listed at legacymi.com are undergoing major renovations.

Holiday Inn Maingate in Kissimmee is scheduled to build a large Observation Deck (illustration attached: http://legacymi.com/ObservationDeck.jpg) on the roof of the East Tower. The roof will be converted into a lounge area that is high enough to allow nightly viewing of theme park fireworks. It will be available to all nightly rental guests and Legacy Grand Condo Hotel owners, including their guests, friends and families.

In addition the Legacy Grand Maingate will receive new exterior paint, a glass enclosed and secured Elevator Tower with Air Conditioning, Elevator Interior Upgrades, Lobby Landscaping and Renovations, a Big Screen TV Sports Bar Area with Pool Tables, Restaurant and Meeting Room Upgrades, a New Legacy Grand Heliport Area, and a refurbished Resort Pool Area and Cabana section. Also planned are Parking Lot Improvements including Curb Renovations, a complete Landscape Package and Front Pond and Fountain Improvements.

First phase Holiday Inn Maingate Condo Hotels are currently starting at $ 169,900. For more information please visit http://www.legacymi.com

A second Legacy Grand Condo Hotel property, East Gate in Kissimmee, is also receiving renovations including:

A refurbished resort pool area, deck renewal, new marcite surface and refurbished pool area fence, a Big Screen TV and Lounge Area, a New Legacy Grand Junior Ballroom for larger meetings, a New Lobby Area Gift Shop, New Landscaping in Common Areas and New Exterior Paint and Stucco Improvements.

First phase Condo Hotels at East Gate start at $ 129,900.

Scott McCoy commented, “We’re very excited to be part of the Legacy Grand team. They know the Condo Hotel business, and understand how to meet the needs of their clients.”

A third Condo Hotel on IDrive is also undergoing renovation and details will be announced shortly.

For further information please call 866-608-4636 or visit http://www.legacymi.com.

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Just in Time for Hurricane Season, SunshineList.com Creates Powerful New Search for Companies Wanting to Work with Homeowner and Condo Associations

Tampa, FL (PRWEB) June 29, 2008

SunshineList.com has launched a new business directory that allows community associations to search by city and zip code for companies providing association products and services. The Sunshine List Business Directory now features the most complete online directory of products and services for homeowner and condominium associations.

“The Sunshine List Business Directory is a valuable resource for both companies wanting to work with community associations, and association board members seeking new suppliers. These board members are the people who can say ‘yes’ to a company’s products or services. Companies can market their products and services for free, and association members have direct access to companies wanting to work with them. It’s a win – win situation,” said Bob Sitton of Sunshine List.

Board members can now search for a variety of products and services in a wide range of categories. The directory currently features over 50 categories, including Landscaping, Insurance, Roofing, Banking and Financial. The directory also provides current community association news from around the nation.

The Sunshine List Business Directory can be found at http://www.SunshineList.com/directory/

SunshineList.com is a d/b/a of Banana Plantation, Inc. a Florida corporation which provides community association lists of over 162,000 homeowner, property owner and condominium association board members.

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Hotel Condo Services, LLC is Announcing its Management Contract with Destiny Palms Hotel Maingate West in Kissimmee, Fl.

Kissimmee Fla. (PRWEB) January 6, 2008

The Kissimmee, Fl. based management company Hotel Condo Services, LLC is announcing its management contract with Destiny Palms Hotel Maingate West in Kissimmee, Fl. This is the fifth contract of its type for HCS. Destiny Palms Hotel Maingate West is located at 8536 West Irlo Bronson Memorial Highway, Kissimmee Fl., and is conveniently located within minutes to all Orlando attractions.

At Destiny Palms Hotel Maingate West, you’ll experience warm hospitality and luxury amenities unlike any other condo hotel in the area. Located less than one mile from Disney’s Animal Kingdom, less than three miles from the Main Entrance to the Walt Disney World

Douglas Wilson Companies Named Receiver on 39-unit Barn Lofts Condo Project in Los Angeles

San Diego, CA (PRWEB) March 26, 2010

Douglas Wilson Companies (DWC) has been appointed receiver for the 39-unit Barn Lofts — an adaptive reuse condominium development encumbered by a $ 19.6 million loan — at 940 East 2nd Street in downtown Los Angeles.

A specialist in distressed real estate and court-appointed receiverships, DWC will oversee the final piece of construction on the conversion of the 57,703-square-foot brick and steel A-frame structure built in 1906 as a warehouse for the Spreckels Brothers Sugar Company.

“The project was 90 percent completed when the developer/owner went into default,” said CEO Douglas P. Wilson. “Our job is to protect and maintain this unique asset while completing construction and preparing the units to go to sale.”

Located on the eastern edge of downtown in the heart of the L.A. Arts District, the Barn Lofts were designed in 2006 by Rockefeller Partners Architects as three-story loft-style town homes: ground floor for office/studio, main floor for living/dining room and kitchen, and the third level as a master suite. Exterior brick walls were refurbished and preserved, although the original roof was replaced in order to create individual skylights.

Construction is expected to be complete and all outstanding encumbrances resolved within 120-180 days.

Based in San Diego, Calif., Douglas Wilson Companies operates six offices around the United States, including Atlanta, Las Vegas, Miami, Orlando and San Francisco. To date, the company has provided problem resolution for more than 600 projects involving assets valued in excess of $ 10 billion.

MORE ABOUT DOUGLAS WILSON COMPANIES

Founded in 1989, Douglas Wilson Companies is one of the largest firms of its kind, providing a wide range of specialized business and real estate services to law firms, state and federal courts, corporations, partnerships, pension funds, REITS, financial institutions and property owners nationwide.

Services include workout and problem resolution, crisis/force majeure response, asset management, consulting, business planning, receivership, development, entitlement, and construction management.

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