Lifestyles

Hilton Conrad Fort Lauderdale

hilton-conrad 01The spectacular beach property in Fort Lauderdale that was planned to have been one of Donald Trump’s treasures was sold on the foreclosure block on March 14th of 2012. There was 165.6 million dollars in debt owed on the beachfront property. The winning bidder paid a whopping one hundred dollars for it. Of course, the new owner is still responsible for the $165.6 million in debt. Actually, the winning bidder was Corus Construction Venture, LLC. Honestly, they were the only bidder on the Ft. Lauderdale property. This is surprising to many but in reality, is par for the course.

The Unfinished Condo Hotel

An unfinished condo hotel is worthless in the Ft. Lauderdale community. It’s an eyesore and many people have complained about it to the local authorities. Unfortunately, there isn’t much that could have been done until the foreclosed on Hilton Conrad Fort Lauderdale property has been sold. With the property now in the name of Corus Construction, the owners must do what it takes to complete the project or demolish it. Demolition would be counterproductive and create a huge loss for the owner hence; they will continue to build. Eventually, the twenty-four story tower in Fort Lauderdale will become something however; it is doubtful to become the wonderful vision upon which it was conceived. The cost would be outrageous and to the consumer, it would equate to a $500,000 a night room!

The Wonder of It All

There are so many pending lawsuits on the Hilton Conrad Fort Lauderdale property that a lot of bidders were scared away. Because there were fifty-two Fort Lauderdale condo units already sold, the lawsuits had been filed. This was prior to the foreclosure and sale. Those fifty-two people put sizable deposits on the luxury condo units that they never received however; they are only those that have filed suit. There were actually over one hundred people who brought twenty percent to the table when they signed the contracts. The lawsuits are still pending however; the hotel will be opening by the end of 2013.

Luxury Fort Lauderdale Condos

Just because the Hilton Conrad Fort Lauderdale project will not come to fruition doesn’t mean those seeking luxury condos in Fort Lauderdale are out of luck. There are plenty of great luxury condos available in the area. Of course, every facility will have different amenities so there is sure to be something that a buyer will fall in love with. The problem is that not every real estate company is able to handle luxury condo real estate. You should contact Shai Mashiach, the realtor to the stars in Fort Lauderdale. Call 954-816-7070 and Shai will be happy to help you find the perfect luxury condo for your needs in Fort Lauderdale.

Fort Lauderdale Luxury Areas

Coldwell Banker

Disclaimer

Information based on the National Multiple Listing Service and MIAMI Association of REALTORS. Information is believed to be accurate but not warranted and is subject to errors, omissions, or changes without notice.