Update on 3565 North Ocean Blvd
December 9, 2018
This lot is one of the most valuable Single Family Residence build lots in all of the Delray & Gulfstream ocean front.
We also own and control 4 others of this unique quality and are not easily letting any of them go cheap or below FULL ACCRUING RETURNS FOR YOU.
The lot is now permitted and build approved and HIGH SEASON is upon us so the showings and buyer meets are really revving up.
We are going to achieve full payouts here by being judicious as a good manager. You are currently accruing full returns here at 14%, 15% or 16% depending on the number of units purchased.
The lot is now zoning, site plan, and build approved for the attached home. Plans are 75% done.
The 3565 home is about a $ 14.3M re-sale when finished [6166 x $2325 PPSF sell out ] and a $ 300 a foot build cost . So plenty of margin for full annualized accrued payouts. It’s a $10 M pure lot sale in its now finally build ready state.
If the lot does not go under contract as is in the next 90 days now that the busy season in Delray is here, we will begin building them contrary to just the original land flip plan. They could still go land flip - because we have a lot of activity on it - but we are also planning a full build here to enhance your investment and provide the full expected rate of return – although return of capital will be longer out 12 more months - you will be accruing full annualized returns here from day one. This is for the good of our investors and for the purpose of insuring full valued 14% , 15% and 16% respective returns to you which this location will.
The Lot has been approved by the town of Gulf Stream architectural committee as well as approved at the planning commission and has obtained full zoning site plan approval for building.
The DEP has required town approval letters that all zoning setbacks are met for final CCL Permit issuance which is imminent.
All structural and MEP drawings are 75% completed so when the DEP CCL is comes in these next 60 days we will be ready to build if these are not sold as build ready lots by that time.