Author Topic: Any Peninsula Condo experts?  (Read 2921 times)

sanmarcomatt

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Any Peninsula Condo experts?
« on: August 25, 2018, 02:04:48 PM »
Greetings,

Anyone have any extensive knowledge of the SB Peninsula Condo whether industry related or resident/owner?

I would be especially interested in thoughts on quality of construction and any experiences living there,especially recently.

Thanks!




MusicMan

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Re: Any Peninsula Condo experts?
« Reply #1 on: August 26, 2018, 09:30:08 AM »
I am a Realtor but have not sold that building....yet.

I do know they have an ongoing lawsuit regarding some issues of the original build quality, something all too familiar with residents of many
condo owners in Jacksonville (particularly anything built after 2000). That being said, the interiors are in my opinion spectacular. The health club on site is excellent. The 38th floor Apogee lounge is amazing. The units are smaller but have tall ceilings (unlike Berkman). The top floor units are IMO really great buys (at around $1,000,000 +).  I don't think there is a comparable deal in any large Southern city. The views are special.

So I like the building. You actually get a lot for the HOA payments. Great on site health club, garage parking and 24 hour concierge.  Plus a great location.

Let me know if I can be of further service.

sanmarcomatt

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Re: Any Peninsula Condo experts?
« Reply #2 on: August 26, 2018, 10:06:46 AM »
I am a Realtor but have not sold that building....yet.

I do know they have an ongoing lawsuit regarding some issues of the original build quality, something all too familiar with residents of many
condo owners in Jacksonville (particularly anything built after 2000). That being said, the interiors are in my opinion spectacular. The health club on site is excellent. The 38th floor Apogee lounge is amazing. The units are smaller but have tall ceilings (unlike Berkman). The top floor units are IMO really great buys (at around $1,000,000 +).  I don't think there is a comparable deal in any large Southern city. The views are special.

So I like the building. You actually get a lot for the HOA payments. Great on site health club, garage parking and 24 hour concierge.  Plus a great location.

Let me know if I can be of further service.

Thanks!
 I am glad you mentioned the Apogee lounge. Is that only for events or would residents have access to it when there is no event going on? That lounge does look incredible and is part of the potential draw.


ProjectMaximus

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Re: Any Peninsula Condo experts?
« Reply #3 on: August 26, 2018, 10:33:10 AM »
Probably not what you are asking but I know residents can reserve it to host events there.

KenFSU

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Re: Any Peninsula Condo experts?
« Reply #4 on: August 26, 2018, 01:18:26 PM »
I am a Realtor but have not sold that building....yet.

I do know they have an ongoing lawsuit regarding some issues of the original build quality, something all too familiar with residents of many
condo owners in Jacksonville (particularly anything built after 2000). That being said, the interiors are in my opinion spectacular. The health club on site is excellent. The 38th floor Apogee lounge is amazing. The units are smaller but have tall ceilings (unlike Berkman). The top floor units are IMO really great buys (at around $1,000,000 +).  I don't think there is a comparable deal in any large Southern city. The views are special.

So I like the building. You actually get a lot for the HOA payments. Great on site health club, garage parking and 24 hour concierge.  Plus a great location.

Let me know if I can be of further service.

Thanks!
 I am glad you mentioned the Apogee lounge. Is that only for events or would residents have access to it when there is no event going on? That lounge does look incredible and is part of the potential draw.



Best view in Jacksonville, for my money.

Open to residents, unless booked out.

MusicMan

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Re: Any Peninsula Condo experts?
« Reply #5 on: August 26, 2018, 02:48:40 PM »
(The several times I've been in the building) I believe you are welcome to take a bottle of champagne up there and enjoy, but for an official event you must register and pay a fee.  Part of the space is open air, the rest is enclosed with amazing views and a super kitchen area suitable for your favorite TV chef to present a meal of a lifetime.....

It would be the best place imaginable for a Jags-Patriots Post Game Party, if that's what you're thinking!  (PM me and I'll tell you were to send my invite!)
« Last Edit: August 26, 2018, 02:56:16 PM by MusicMan »

acme54321

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Re: Any Peninsula Condo experts?
« Reply #6 on: August 26, 2018, 10:51:51 PM »
We knew someone that lived there and they said the fee to rent the roof was only like $100.  It's an amazing space alright.  I'd love to be up there on NYE or the 4th.

sanmarcomatt

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Re: Any Peninsula Condo experts?
« Reply #7 on: August 27, 2018, 08:54:55 AM »
(The several times I've been in the building) I believe you are welcome to take a bottle of champagne up there and enjoy, but for an official event you must register and pay a fee.  Part of the space is open air, the rest is enclosed with amazing views and a super kitchen area suitable for your favorite TV chef to present a meal of a lifetime.....

It would be the best place imaginable for a Jags-Patriots Post Game Party, if that's what you're thinking!  (PM me and I'll tell you were to send my invite!)

I like your after party idea. Perhaps in the future as I like what I see activity-wise considering where we are in the cycle. I probably don't have all of the data but in the >500K price range, I see 9 units for sale with nothing under contract and nothing sold in the last 6 months. Ouch.

Captain Zissou

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Re: Any Peninsula Condo experts?
« Reply #8 on: August 27, 2018, 09:24:40 AM »
I lived there in 2009-2011 and enjoyed it, but it had a much higher vacancy rate back then.  It often felt like we were alone in the building because nobody used the spa, gym, clubhouse room on the 9th floor, or the 38th floor.  I was renting from an owner.  The private elevators are amazing, you've never felt more secure in your life, the staff is pretty good but i doubt anyone from my day is still there, there used to be nothing to walk to but that has definitely changed.  My unit was very well built and I never had a problem, but I know they have had issues with the balconies.  I think there are bolts or anchors of some sort that have been falling off.  I think most are fixed now.

One thing, if the prices are similar, get a unit on a higher floor.  The lowest units have to park on the highest floors of the garage and that thing is annoying.  My car was bumped a couple times and people don't drive well in there.

MusicMan

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Re: Any Peninsula Condo experts?
« Reply #9 on: August 27, 2018, 09:39:28 AM »
My MLS search this morning shows 6 recent sales under $550,000.( Within past 6 months.) Nothing Pending, and 7 units 'For Sale' total under $550,000.

San Marco Place , next door, is extremely well built building and the chief competition to The Peninsula. I don't like it as much, but it has a devoted following among owners there.

If you want more detailed info let me know. We can meet at Good Dough!

One other important issue: because of an ongoing lawsuit against the developer it has been damn near impossible to get financing in there.
Most of the sales in the last few years have been cash buyers, or Sellers holding paper.
« Last Edit: August 27, 2018, 09:41:28 AM by MusicMan »

sanmarcomatt

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Re: Any Peninsula Condo experts?
« Reply #10 on: August 27, 2018, 09:45:55 AM »
I lived there in 2009-2011 and enjoyed it, but it had a much higher vacancy rate back then.  It often felt like we were alone in the building because nobody used the spa, gym, clubhouse room on the 9th floor, or the 38th floor.  I was renting from an owner.  The private elevators are amazing, you've never felt more secure in your life, the staff is pretty good but i doubt anyone from my day is still there, there used to be nothing to walk to but that has definitely changed.  My unit was very well built and I never had a problem, but I know they have had issues with the balconies.  I think there are bolts or anchors of some sort that have been falling off.  I think most are fixed now.

One thing, if the prices are similar, get a unit on a higher floor.  The lowest units have to park on the highest floors of the garage and that thing is annoying.  My car was bumped a couple times and people don't drive well in there.

Thanks for the great info especially the parking garage. I have read other comments that the garage is terrible. On a bright note, I don't believe in spending much on cars (not that my scratch and dent 2010 Honda doesn't impress).

I have read the private elevator mentioned in some descriptions. Are the private elevators only for corner units?

sanmarcomatt

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Re: Any Peninsula Condo experts?
« Reply #11 on: August 27, 2018, 09:53:26 AM »
My MLS search this morning shows 6 recent sales under $550,000.( Within past 6 months.) Nothing Pending, and 7 units 'For Sale' total under $550,000.

San Marco Place , next door, is extremely well built building and the chief competition to The Peninsula. I don't like it as much, but it has a devoted following among owners there.

If you want more detailed info let me know. We can meet at Good Dough!

One other important issue: because of an ongoing lawsuit against the developer it has been damn near impossible to get financing in there.
Most of the sales in the last few years have been cash buyers, or Sellers holding paper.

I was talking about over 500K. Do you see the same sales results(nothing)?Thanks for the info on financing but if int rates go where I think, it would probably be cash anyway. The lawsuit note is greatly appreciated. Clearly, I will need to due some real research if we get serious.

Edit--I am probably boring people even more than usual with these posts. MM, I will PM you.
« Last Edit: August 27, 2018, 09:56:18 AM by sanmarcomatt »

Captain Zissou

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Re: Any Peninsula Condo experts?
« Reply #12 on: August 27, 2018, 10:05:40 AM »
I have read the private elevator mentioned in some descriptions. Are the private elevators only for corner units?

Yes.  The elevators have doors on both sides and the corner units can swipe and use the R button to open the rear door that opens directly into a small elevator lobby that opens into the unit.  You can still lock the door to your private elevator lobby, because the peninsula is the most secure place ever.  It was a huge adjustment when I moved back down to earth and had to sleep with the "normals".

sanmarcomatt

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Re: Any Peninsula Condo experts?
« Reply #13 on: August 27, 2018, 10:10:54 AM »
I have read the private elevator mentioned in some descriptions. Are the private elevators only for corner units?

Yes.  The elevators have doors on both sides and the corner units can swipe and use the R button to open the rear door that opens directly into a small elevator lobby that opens into the unit.  You can still lock the door to your private elevator lobby, because the peninsula is the most secure place ever.  It was a huge adjustment when I moved back down to earth and had to sleep with the "normals".

Thanks. That is cool. We have dogs which is the main reason why we normally wouldn't buy a condo but that would certainly help. We would likely only be interested in a corner unit anyway but that cements it.

Thanks again!

Captain Zissou

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Re: Any Peninsula Condo experts?
« Reply #14 on: August 27, 2018, 10:19:30 AM »
I was the southwest corner in a 2 bedroom on the 33rd floor.  I was not in the master, but the sun was pretty intense in the mornings.  The master is more shaded due to the strand.