Author Topic: Russian billionaires in San Marco  (Read 4340 times)

sanmarcomatt

  • Hero Member
  • *****
  • Posts: 1036
  • Mayor of The Coffee District
Re: Russian billionaires in San Marco
« Reply #15 on: June 12, 2018, 11:54:24 AM »
There appeared to be some demolition going in based upon what I could see/hear from my vantage point on the opposite side of River Oaks Park.

I hope to be able to share some laughs about American Politics over some Moscow Mules with the new owner.

Adam White

  • Hero Member
  • *****
  • Posts: 2917
    • Facebook
Re: Russian billionaires in San Marco
« Reply #16 on: June 12, 2018, 11:58:34 AM »
There appeared to be some demolition going in based upon what I could see/hear from my vantage point on the opposite side of River Oaks Park.

I hope to be able to share some laughs about American Politics over some Moscow Mules with the new owner.

In Russia, American Politics shares some laughs about you!
“If you're going to play it out of tune, then play it out of tune properly.”

sanmarcomatt

  • Hero Member
  • *****
  • Posts: 1036
  • Mayor of The Coffee District
Re: Russian billionaires in San Marco
« Reply #17 on: June 12, 2018, 12:07:07 PM »
There appeared to be some demolition going in based upon what I could see/hear from my vantage point on the opposite side of River Oaks Park.

I hope to be able to share some laughs about American Politics over some Moscow Mules with the new owner.

In Russia, American Politics shares some laughs about you!

Pretty sure they are laughing with me.

ProjectMaximus

  • Hero Member
  • *****
  • Posts: 3088
Re: Russian billionaires in San Marco
« Reply #18 on: June 12, 2018, 12:47:30 PM »
^ The new one looks better than the first one, from what I can tell.  I thought a 4 or 8-plex would be a better fit for that parcel, but the neighbors would be up in arms. You could put parking in the back on Mitchell and it would be a nice buffer from the busy traffic.  As it is, I can't see who is going to pay a million to have Hendricks Avenue 20 feet from their wall.

Yeah totally agree.

river4340

  • Full Member
  • ***
  • Posts: 184
Re: Russian billionaires in San Marco
« Reply #19 on: June 12, 2018, 01:24:08 PM »
There appeared to be some demolition going in based upon what I could see/hear from my vantage point on the opposite side of River Oaks Park.

I hope to be able to share some laughs about American Politics over some Moscow Mules with the new owner.

A building permit was issued two weeks ago to  demolish the entire structure.


acme54321

  • Hero Member
  • *****
  • Posts: 2101
Re: Russian billionaires in San Marco
« Reply #20 on: June 12, 2018, 03:14:02 PM »
^ The new one looks better than the first one, from what I can tell.  I thought a 4 or 8-plex would be a better fit for that parcel, but the neighbors would be up in arms. You could put parking in the back on Mitchell and it would be a nice buffer from the busy traffic.  As it is, I can't see who is going to pay a million to have Hendricks Avenue 20 feet from their wall.

No joke, the other one has been on the market for like 3 years at $1.38M, that's ridiculous.

MusicMan

  • Hero Member
  • *****
  • Posts: 1597
Re: Russian billionaires in San Marco
« Reply #21 on: June 13, 2018, 08:48:48 AM »
The "other one" is actually under contract now with asking price of $1.2 million. It is 'Pending'.....

The new one is a private individual building a home to move into.  They bought the lot years ago and are just now getting around to moving.

Recent sales on Alexandria Park further up the street support pretty high prices even that close to Hendricks. I have a friend who lives VERY CLOSE and he loves the convenience. It can be noisy, but NAS Jax sits right on the water and any of the million dollar waterfront homes within miles of it gets plenty of unwanted loud decibel sound intrusion. Has not slowed that market much. As I recall it's directly across from Epping Forest YCC and you cannot get into that community for under $600,000......

Regarding Russian billionaires, it will be at least a year and probably more like 2 before that monstrosity on Brookwood will be ready for move in.
« Last Edit: June 13, 2018, 10:25:07 AM by MusicMan »

ProjectMaximus

  • Hero Member
  • *****
  • Posts: 3088
Re: Russian billionaires in San Marco
« Reply #22 on: June 13, 2018, 11:04:37 AM »
Well, I'm glad someone will finally be moving in. If their basis for the land was half a million then they probably aren't too pleased with how it's been going.

As for the other lot, public records show it is owned by a trust with the same address as the one pending for sale. Not sure why the new owner/private individual isn't the owner of record.

ProjectMaximus

  • Hero Member
  • *****
  • Posts: 3088
Re: Russian billionaires in San Marco
« Reply #23 on: June 13, 2018, 11:07:07 AM »
Maybe they put a deposit down on it years ago? And are now only proceeding with the construction, and it will transfer title at CO/final closing? Only way I can see that your statement makes sense.

MusicMan

  • Hero Member
  • *****
  • Posts: 1597
Re: Russian billionaires in San Marco
« Reply #24 on: June 13, 2018, 11:46:54 AM »
My friend who I mentioned knows the owners who are building now. I have not looked at COJ to figure it out. He said they bought it long ago. Maybe they paid $500,000 for all the real estate. I don't know the history...

There was always signs out with "Asset Monetization Partners" where the finished house is now. It's a nice house. Not my cup of tea, but I have stopped trying to figure out why some people will pay "x" amount of dollars for a property. I just try to facilitate their wishes...

I do know that there are people with plenty of money who do irrational and illogical things with their money, IMO.......... Someone recently paid $265,000 for a 2/1 at San Juline, the 1920's era condo the fronts Memorial Park in Riverside. Incredibly busy street and less than 1000 square feet. No covered parking. It sold in a week. As you know Max, supply and demand plus location explains MOST real estate, but not all.
« Last Edit: June 13, 2018, 11:49:02 AM by MusicMan »

sanmarcomatt

  • Hero Member
  • *****
  • Posts: 1036
  • Mayor of The Coffee District
Re: Russian billionaires in San Marco
« Reply #25 on: June 13, 2018, 11:54:54 AM »
My friend who I mentioned knows the owners who are building now. I have not looked at COJ to figure it out. He said they bought it long ago. Maybe they paid $500,000 for all the real estate. I don't know the history...

There was always signs out with "Asset Monetization Partners" where the finished house is now. It's a nice house. Not my cup of tea, but I have stopped trying to figure out why some people will pay "x" amount of dollars for a property. I just try to facilitate their wishes...

I do know that there are people with plenty of money who do irrational and illogical things with their money, IMO.......... Someone recently paid $265,000 for a 2/1 at San Juline, the 1920's era condo the fronts Memorial Park in Riverside. Incredibly busy street and less than 1000 square feet. No covered parking. It sold in a week. As you know Max, supply and demand plus location explains MOST real estate, but not all.

Personally, I have no desire to spend anything close to a mil on a primary residence but if it came down to two in that area, I am very surprised someone is paying 1.2 for that house on Alexandria and not buying the thing on Laurel for 900K and renovating. To each his own.

ProjectMaximus

  • Hero Member
  • *****
  • Posts: 3088
Re: Russian billionaires in San Marco
« Reply #26 on: June 13, 2018, 01:52:51 PM »
My friend who I mentioned knows the owners who are building now. I have not looked at COJ to figure it out. He said they bought it long ago. Maybe they paid $500,000 for all the real estate. I don't know the history...

My point was that the owners who are building now must be the owners who built and are selling the one next door. Your initial post about this made it sound like it was a separate, unaffiliated party.

No big deal either way...for their sake I do hope they got it for 500k or less.

MusicMan

  • Hero Member
  • *****
  • Posts: 1597
Re: Russian billionaires in San Marco
« Reply #27 on: June 14, 2018, 12:08:47 PM »
I am familiar with the Laurel property. ON the market now for 2 years. It's got "the flu." No one who knows it will touch it. It's really not a bad home, in very livable condition, and big. The Sellers are well known in the neighborhood. They built a home on the river and won't sell unless they get their price. So it sits.....and sits..... 

They did the extreme move of separating off the rear parcel, which once had a nice pool and a large luxurious rear yard, and it is no longer included with the house. So $900,000 is fair but keep in mind the back yard is not included. The lot ends about fifteen feet from the rear of the home.  Not sure if that was an original idea or one their agent AV put forth, but IMO it's just dumb. Buyers looking in that area can afford the old asking price of $1.2 mil (which includes the rear yard) if they want the house bad enough.

Supposedly several new million dollar listings coming on market soon in that area..........

sanmarcomatt

  • Hero Member
  • *****
  • Posts: 1036
  • Mayor of The Coffee District
Re: Russian billionaires in San Marco
« Reply #28 on: June 14, 2018, 12:31:57 PM »
I am familiar with the Laurel property. ON the market now for 2 years. It's got "the flu." No one who knows it will touch it. It's really not a bad home, in very livable condition, and big. The Sellers are well known in the neighborhood. They built a home on the river and won't sell unless they get their price. So it sits.....and sits..... 

They did the extreme move of separating off the rear parcel, which once had a nice pool and a large luxurious rear yard, and it is no longer included with the house. So $900,000 is fair but keep in mind the back yard is not included. The lot ends about fifteen feet from the rear of the home.  Not sure if that was an original idea or one their agent AV put forth, but IMO it's just dumb. Buyers looking in that area can afford the old asking price of $1.2 mil (which includes the rear yard) if they want the house bad enough.

Supposedly several new million dollar listings coming on market soon in that area..........

Thanks for the info. That is bizarre. I was wondering why it wasn't selling at 900k.

MusicMan

  • Hero Member
  • *****
  • Posts: 1597
Re: Russian billionaires in San Marco
« Reply #29 on: June 14, 2018, 12:42:30 PM »
By the way, 2 new neighbors on the river over there.  Jim Furyk built a gorgeous home and Doug Marrone bought an existing one....