Sunday, February 21, 2010
Gussying up The Floridian
The first closings were in 2008. The building continued to sell into 2009 and then everything ground to halt. There was a lawsuit and all closings were halted. The developer went bankrupt. From the scuttlebutt I've heard, the current owners in the building are not happy campers. Punch lists were never completed, half the building was empty and there wasn't a lot of hope.
Thankfully, the Floridian has been purchased by new owners. They're getting ready to relaunch the building next weekend with an Open House on the 25th from 6-9pm. As you can see from the photo, workers are busy gussying up the building. Check out Urban Turf's post about the pricing.
I think there's a good chance that some of these units will sell. There's not many new construction projects available. The property inventory is low. Buyers would like to take advantage of the tax credit. We'll see what happens!