2007 saw many condo casualties. We reported regularly on Orlando's downtown condo scene - and were obviously concerned about 55 West's lack of recent activity.  2008 has got off to an ugly start with the Lexington in bankruptcy court. Now, the lender for 55 West Orlando, SNS Property Finance of the Netherlands, foreclosed on the property on January 7th 2008, according to recent reports. The lender also replaced the developer, with Grosse Pointe Development Co. who say work [...]
We've known about the problems at the Lexington condo hotel (downtown Orlando) for a some time now, and I recommended to one potential client that he give his particular condo hotel project a wide berth. For reasons that I'll never understand, he refused to believe that my adivice was anything other than genuine or based simply on my knowledge of who the lemons were in the market - and he purchased one anyway. His view was that getting his deposit money back in the[...]
We've posted over 250 articles on the Orlando condo scene since we went live just over a year ago, covering every conceivable condo angle from financing to home owners' associations, to the very best deals Orlando has to offer. To celebrate the end of our first year, we've picked the TOP TEN posts that we thought were the funniest, most newsworthy or were the most helpful to our readers. Thanks for leaving your comments! Thanks also to our staff, our blog writers, and [...]
Coming to a neighborhood near you - maybe - is a $625 million 49-story condo project which will sit near Universal and Sandlake on Lakehurst Drive. It is slated to accommodate over, wait for it... 1,188 condos (no, you read that right). Convention space and retail are expected to swallow up another couple of hundred thousand square feet. Planned at 500 feet tall, it would stand sixty feet above the SunTrust building - Orlando's tallest building at present (featured atop of [...]
The Vue condos, downtown Orlando, had it's residents' grand opening last as night, as covered by local TV stations. And those that had closed seemed happy with their purchase. Floors 2-15 are completely sold out and about 50 folk are reported to have taken up residency to date. In fact, the entire project is nearly sold, although the top floors and Penthouses are still being fitted out inside. There are still a few units available so if you'd like a tour contact us. It's not too late to be a[...]
In April, we brought you news of Knightsbridge at Stoneybrooks demise. This week's Orlando Business Journal reports that TA Associates, a Boston firm, has now purchased the 396-unit condo conversion for $45.3 million. Not bad for a community built in 2000 on 25 acres. The same fate will await many of those Orlando communities which are marked "Off Market" on our search engine at CondoMetropolis.com. And not all of these are condo conversions. Some are brand new. In either case, the [...]
Regency Park condos in Lake Mary will host a condo closeout sale this weekend with 1 bed, 1 bath condos on offer from $99,990! A 2/2 will cost you about $128 and a 3/2 about $169. Registrants will enter to win a free 32" LCD TV. Only 20 condos remain so if you'd like to register and take a tour on either Saturday or Sunday, contact us here ASAP at Condo Metropolis (407) 901-5161. You will probably only need $1500 down as a deposit. This is not an auction and this is solid closeout pricing!
Star Tower condos on Jackson and Osceola Streets in downtown Orlando report they have completed construction of over half of the units and have begun closings. They expect to complete closings on half of the 100 condominiums by the end of the year. Albert Kodsi, president of Royal Palm, said most buyers who reserved units at Star Tower want to complete their transactions soon and are anxious to move in. Ninety percent of the units at Star Tower Condominium are 1,765 square feet or larger and [...]
Capri condos in Hunter's Creek are selling their final few units and heavily reduced prices. In fact the developer claims that "No reasonable offer refused" Now that's what I call a Buyer's Market! Capri was one of our first Featured Condos on CondoMetropolis.com and it's a very good community. As we reported last month, a handful of the condos were not closed on by investors who had overstretched themselves and were subsequently returned to the developer. Hunter's Creek is a great [...]
Like all the current downtown Orlando condo projects, Tradition Towers has been in trouble for a while now. In fact, rising construction costs and low demand have caused over two thirds of the downtown condo projects to be either put on "developer hold" or scrapped altogether. In mid-August, Condo Metropolis talked about the Monarch condo hotel's plans for restructuring, now the Orlando Sentinel reports that Tradition Towers is also drawing up plans for a lifesaving rethink. That rethink [...]
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