The Jaxson

Jacksonville by Neighborhood => Urban Neighborhoods => Topic started by: MusicMan on June 07, 2018, 03:18:48 PM

Title: Russian billionaires in San Marco
Post by: MusicMan on June 07, 2018, 03:18:48 PM
Heard on the street that a Russian billionaire has purchased the monstrous waterfront property at the end of Brookwood in SM to build a 50,000 sf home and dock a 200 foot yacht. Anyone know any more about this?
Title: Re: Russian billionaires in San Marco
Post by: jlmann on June 07, 2018, 04:21:50 PM
in Russia boat docks you!!
Title: Re: Russian billionaires in San Marco
Post by: jlmann on June 07, 2018, 04:23:15 PM
i sure would've thought we wouldn't get assigned a new warden of Jacksonville by Vlad until maybe Trump's third term.  Interesting!
Title: Re: Russian billionaires in San Marco
Post by: brainstormer on June 07, 2018, 07:40:53 PM
When the property was last sold in 2016, there were comments about it being torn down. That was over two years ago so maybe the investors are finally going to do something with it.
Title: Re: Russian billionaires in San Marco
Post by: acme54321 on June 07, 2018, 07:44:52 PM
I heard the same from someone in the know last year.  Also, three pools and a gatehouse for on site security.  Sounded exactly like what you would expect from a Russian billionaire.
Title: Re: Russian billionaires in San Marco
Post by: Kiva on June 07, 2018, 08:45:37 PM
When it sold in 2016 for $8.5 million the realtor mentioned that there is room for a helipad! Currently the dock is 400 ft long.
Title: Re: Russian billionaires in San Marco
Post by: MusicMan on June 07, 2018, 10:24:38 PM
It did not 'sell' on MLS.  It shows as "Expired." It sold for $8,500,000 and the previous seller (Mussalem Family Trust) is holding paper on $3,500,000.

So $5,000,000 changed hands.  Current owner (COJ.net) is Kennard Investors Corp with a Gate Parkway address.

It doesn't add up......................

Shad Khan, is that you?
Title: Re: Russian billionaires in San Marco
Post by: Captain Zissou on June 08, 2018, 09:19:42 AM
I've seen the drawings.  It's going to be enormous.  There are a lot of rumors surrounding specifics, but 4 stories if you include the bottom floor built into the slope and 25,000 sf minimum.
Title: Re: Russian billionaires in San Marco
Post by: river4340 on June 08, 2018, 09:37:19 AM
When the property was last sold in 2016, there were comments about it being torn down. That was over two years ago so maybe the investors are finally going to do something with it.

yeah, that's what Mussallem said at the time.

http://www.jacksonville.com/business/real-estate/2016-02-09/story/san-marco-home-sells-85-million-it-might-be-torn-down

Title: Re: Russian billionaires in San Marco
Post by: MusicMan on June 09, 2018, 06:09:28 PM
Ok so is it an investor spec home or for an individual?

Someone must know......

Plus, $8.5 million for a tear down is common in South Florida. Pretty much never happens in North East Florida.....
Title: Re: Russian billionaires in San Marco
Post by: Captain Zissou on June 11, 2018, 10:30:56 AM
It's for an individual.  Nobody would build a house of this size in Jacksonville as an investment.
Title: Re: Russian billionaires in San Marco
Post by: acme54321 on June 11, 2018, 11:56:19 AM
Speaking of spec houses in San Marco...

What's with the house going up at the corner of Hendricks and Alexandria Pl?  Certainly not another spec house considering the one next door has been sitting there for years now.  Why anyone would want to drop that kind of cash on a house on Hendricks is beyond me.
Title: Re: Russian billionaires in San Marco
Post by: jlmann on June 11, 2018, 05:18:20 PM
mussalem takes offer under asking with a private note for balance, Russian billionaire rumors, buyer sits on prop for years and plans to sink cash into real estate above what any prudent man would do

lol did the Hapsburg group advise on this one?

Title: Re: Russian billionaires in San Marco
Post by: ProjectMaximus on June 11, 2018, 07:13:50 PM
Speaking of spec houses in San Marco...

What's with the house going up at the corner of Hendricks and Alexandria Pl?  Certainly not another spec house considering the one next door has been sitting there for years now.  Why anyone would want to drop that kind of cash on a house on Hendricks is beyond me.

Haha they're building another one now?? Wow! Gutsy...they really are banking on East San Marco and somebody falling in love with the location.

They had the lot for sale about 3 years ago and I was interested in doing a 4-plex or 8-plex...whatever could conceivably fit on there. But was told there's no way the zoning would be approved so we moved on. I cant remember distinctly but I think they were asking close to $1M, and they said they planned to develop themselves if they couldn't get the price they wanted.
Title: Re: Russian billionaires in San Marco
Post by: Captain Zissou on June 12, 2018, 09:22:01 AM
^ 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.
Title: Re: Russian billionaires in San Marco
Post by: sanmarcomatt 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.
Title: Re: Russian billionaires in San Marco
Post by: Adam White 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!
Title: Re: Russian billionaires in San Marco
Post by: sanmarcomatt 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.
Title: Re: Russian billionaires in San Marco
Post by: ProjectMaximus 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.
Title: Re: Russian billionaires in San Marco
Post by: river4340 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.

Title: Re: Russian billionaires in San Marco
Post by: acme54321 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.
Title: Re: Russian billionaires in San Marco
Post by: MusicMan 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.
Title: Re: Russian billionaires in San Marco
Post by: ProjectMaximus 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.
Title: Re: Russian billionaires in San Marco
Post by: ProjectMaximus 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.
Title: Re: Russian billionaires in San Marco
Post by: MusicMan 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.
Title: Re: Russian billionaires in San Marco
Post by: sanmarcomatt 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.
Title: Re: Russian billionaires in San Marco
Post by: ProjectMaximus 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.
Title: Re: Russian billionaires in San Marco
Post by: MusicMan 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..........
Title: Re: Russian billionaires in San Marco
Post by: sanmarcomatt 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.
Title: Re: Russian billionaires in San Marco
Post by: MusicMan 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....
Title: Re: Russian billionaires in San Marco
Post by: Steve on June 14, 2018, 12:49:10 PM
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......

This is absolutely true. Personally, I live just south (6 blocks) of Bolles and hear them day and night (mostly night). If you continue the main runway across the river, it would end up literally on top of my house but to your point, planes landing/taking off over the river will absolutely be low and quite audible from about Epping to South to around Baymeadows.

On a lighter note.....I didn't even realize it when we bought the house until about 3 hours after closing! If you drive to NAS from my house it's about a 10 mile drive since you have to use either the Buckman or the Fuller Warren so it didn't occur to me. Thankfully, I travel for work and actually like the sound of Jet Engines, and my wife doesn't mind either. The majority of what comes directly overhead are P-8s, which are based off of the Boeing 737 (Think Southwest Airlines).
Title: Re: Russian billionaires in San Marco
Post by: Steve on June 14, 2018, 12:50:01 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....

Isn't Michael Ward (ex CSX CEO) over there too?
Title: Re: Russian billionaires in San Marco
Post by: BridgeTroll on June 14, 2018, 01:16:26 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....

Was the house Marrone bought the same one that had the estate sale a few weeks back?
Title: Re: Russian billionaires in San Marco
Post by: acme54321 on June 14, 2018, 01:18:18 PM
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......

This is absolutely true. Personally, I live just south (6 blocks) of Bolles and hear them day and night (mostly night). If you continue the main runway across the river, it would end up literally on top of my house but to your point, planes landing/taking off over the river will absolutely be low and quite audible from about Epping to South to around Baymeadows.

On a lighter note.....I didn't even realize it when we bought the house until about 3 hours after closing! If you drive to NAS from my house it's about a 10 mile drive since you have to use either the Buckman or the Fuller Warren so it didn't occur to me. Thankfully, I travel for work and actually like the sound of Jet Engines, and my wife doesn't mind either. The majority of what comes directly overhead are P-8s, which are based off of the Boeing 737 (Think Southwest Airlines).

The noise is audible for miles around the base but everyone is so used to it no one really notices or cares.  When I lived in Ortega the wort part was the droning of P-3s being run up on the ground, for whatever reason that sound carried for miles.. My windows would sometimes rattle from it.
Title: Re: Russian billionaires in San Marco
Post by: Captain Zissou on June 14, 2018, 01:29:20 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....

Isn't Michael Ward (ex CSX CEO) over there too?

Michael Ward currently lives next to the Peter Rummell monster house, but he's moving farther north.

Marrone bought Judge Moran's old house, which is two down from the swisher mansions. 
Title: Re: Russian billionaires in San Marco
Post by: BridgeTroll on June 14, 2018, 01:55:54 PM
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......

This is absolutely true. Personally, I live just south (6 blocks) of Bolles and hear them day and night (mostly night). If you continue the main runway across the river, it would end up literally on top of my house but to your point, planes landing/taking off over the river will absolutely be low and quite audible from about Epping to South to around Baymeadows.

On a lighter note.....I didn't even realize it when we bought the house until about 3 hours after closing! If you drive to NAS from my house it's about a 10 mile drive since you have to use either the Buckman or the Fuller Warren so it didn't occur to me. Thankfully, I travel for work and actually like the sound of Jet Engines, and my wife doesn't mind either. The majority of what comes directly overhead are P-8s, which are based off of the Boeing 737 (Think Southwest Airlines).

The noise is audible for miles around the base but everyone is so used to it no one really notices or cares.  When I lived in Ortega the wort part was the droning of P-3s being run up on the ground, for whatever reason that sound carried for miles.. My windows would sometimes rattle from it.

(https://i.imgur.com/unL1Uiw.jpg)
Title: Re: Russian billionaires in San Marco
Post by: sanmarcomatt on June 14, 2018, 02:24:01 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....

And Norwell just bought on the River. Jags are taking over San Marco

oops. Just a monstrosity....not on river
Title: Re: Russian billionaires in San Marco
Post by: sanmarcomatt on June 14, 2018, 02:24:41 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....

Was the house Marrone bought the same one that had the estate sale a few weeks back?

Yes