Marina Grande SOLD estimated $73,500,000.00
New owners of the Marina Grande hope to turn a struggling project into a success in 2011. First on the agenda for 2011, is to start construction on a 12,000 sq. ft .clubhouse and large slip marina. Currently, 76 units out of the 200 available have been purchased. The original purchase price for construction of the two towers was more than 200 million. New owners aim to complete 2 more Marina Grande Towers in the future.
Price will be key to the success of this property. Oceanfront condos are now very affordable and this Holly Hill riverfront project will compete directly with very nice oceanfront condominiums. 3 bedroom 3 bathroom newer oceanfront condos are available for mid to high 300's in some newer buildings. Oceanfront is #1 on the list of many Florida condo buyers, but lower prices may lure buyers to the Marina Grande condo project.
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