SammyL
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Posts posted by SammyL
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The problem is that when they dont get your condo built in time (or built at all), they dont have to responsible for anything.
You have paid a non-refundable deposit after the recision period which means you cannot get out of the contract anymore. At least, not without any financial 'damage'. Surely that is not just a one-way street? You enter into a contract with the developer, you pay a non-ref deposit and he can default without any compensation to the buyer??? No, I don't think so.
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Ahhh, that dreaded rumour mill is busy once again ...... I have heard talk that the City intends to terminate the Incentive Agreement. Shortly after this little 'bomb' I have heard that there is no talk whatsoever of this intended termination of the agreement. Does anyone here care to share info on this?
This contradictory information, to say the least. -
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The "or what" is the City will not provide the incentive that was originally agreeded upon. For Pearlman, his company did not get the full amount of the incentive. If 55west does not meet the deadline, the incentive agreement will be void. They could still do the project, but without any help from the City.
Jack, that is quite a statement. I am sure that if that were indeed the case, this whole discussion would not be taking place simply because the developer would have made sure the demo is finished on time. Sounds to me like you are stirring things up a bit.
Perhaps Tim3167 can shed some light on this? He seems to have some pretty solid connections.
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I don't believe it is too much of a change. they are squeezing in about 40 more units and possibly (5 floors) to hold them. And the city wants radio antennas on top. they had to redesign the foundation to handle the weight of the additional floors. I think it will look about the same but a little taller. there have been several edited images on this board and Orlando Skyscrapers with the new floors.
<{POST_SNAPBACK}>
As far as I understand, there will be no additional floors but part of the office condo space will be traded in to allow more units.
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I am not sure what to think of this. Question to the contract holders: don't these people (i.e. the developer) keep you updated on the progress (or lack thereof), at least periodically? It would seem to me that you all have a vested interest and would welcome being 'in the loop' of 'your' building.
I am sorry I missed you at the Loft Affair, UPSDAN! I thought it was pretty well put together but yes, very much geared towards brokers instead of individual buyers.
What would it take for the 55 West developer to put everyone's mind at ease (beside the obvious answer: building it) and to show that it really is commited to move forward? Did they not have some sort of Groundbreaking and dinner gig a couple of months ago? It would seem to me (a layman) they would not go through all of those expenses just to throw up a smoke curtain.
Thoughts, anyone?
Thanks!
This contradictory information, to say the least.
55 West
in Orlando
Posted
The guy who died was the owner of Euro American Advisors, the developer of 55 West. That much I know for sure. They now got a couple of sleezeballs running their corporate head office somewhere over in Europe, mainly working their own personal agenda so it's anybody's guess as to what 'll happen. Yeah, heard some serious rumours too about financial troubles but not sure exactly what they consist of. I'm positive both the investors and condo owners would love to know the score! Apparently everyone is being kept in the dark. Anybody knows something more about this since the last posting on this a few weeks ago??