View Full Version : Palace CLOSED???
moshy2k
03-02-2006, 05:21 PM
On the Palace website it says that the Palace is now CLOSED.. Anyone have an update on whats going on?
psriches
03-02-2006, 05:26 PM
NO, no, no, say it ain't so!!! All the memories........ :bukkake:
rley69
03-02-2006, 05:41 PM
If you go on to read what it says on the site, the rooms are now available for sale as condos. John mentioned something about breaking the place into units if he couldn't sell it as a hotel last time I was there and it looks that is what he has decided to do. So starting from a mere $22.5k you could buy your own piece of DR mongering history!
Seņor Jimmy of Medellin
03-02-2006, 06:15 PM
I just emailed with him and he is still renting rooms.
Willie
03-02-2006, 08:15 PM
I recently saw on a RE site the Palace being offered for sale at $450,000.
Willie
He just quoted me a rate for the trip I want to take 4/29. It's all good. For now...
Bug Boy
03-02-2006, 08:31 PM
If you go on to read what it says on the site, the rooms are now available for sale as condos. John mentioned something about breaking the place into units if he couldn't sell it as a hotel last time I was there and it looks that is what he has decided to do. So starting from a mere $22.5k you could buy your own piece of DR mongering history!
Damn I would be down for that.
Maybe a group of us should get together, buy them all, and time-share them. We'd need to hire a manager or get someone to volunteer to move there permanently and manage them...
guttaman
03-02-2006, 08:41 PM
Started at over $500,000. As i said in previous post the place is worth between $175,000 and 225,000. Anyone seriously looking to buy a unit should have an experienced home inspector in the construction of 3rd world nation buildings that have been thru an earthquake ( Like you will find an honest one in the DR ). The Palace was originally a 2 story building. For the area it is a tall building. I am told that the soil in costal areas of the north coast is soft. I would not look at a unit in itself. I would look at the whole structure. Columns that are 6 inches below ground from where they first started. Water damage from a flat roof that floods the 3rd floor with pools of water. Black mold in the walls. My test when i did home inspections in the past was to take a marble and put it in the center of the room on the floor and see where it rolled and how fast. $22,500 is short money for a unit in the Caribbean but a short money unit often turns into a money pit. Just my honest opinion.
Bug Boy
03-02-2006, 08:48 PM
Maybe a group of us should get together, buy them all, and time-share them. We'd need to hire a manager or get someone to volunteer to move there permanently and manage them...
22k is a small investment that we probably could gain a profit over time. But I do believe that we should get an inspector to look at the property.
imagine if we got that 22k financed? If we make reasonable repairs after one year we should at least double our money.
Tonto4
03-02-2006, 08:52 PM
Started at over $500,000. As i said in previous post the place is worth between $175,000 and 225,000. Anyone seriously looking to buy a unit should have an experienced home inspector in the construction of 3rd world nation buildings that have been thru an earthquake ( Like you will find an honest one in the DR ). The Palace was originally a 2 story building. For the area it is a tall building. I am told that the soil in costal areas of the north coast is soft. I would not look at a unit in itself. I would look at the whole structure. Columns that are 6 inches below ground from where they first started. Water damage from a flat roof that floods the 3rd floor with pools of water. Black mold in the walls. My test when i did home inspections in the past was to take a marble and put it in the center of the room on the floor and see where it rolled and how fast. $22,500 is short money for a unit in the Caribbean but a short money unit often turns into a money pit. Just my honest opinion.
At $50 a night, its like 450 nights for 22.5K. What you going to get for it after that?
Seņor Jimmy of Medellin
03-02-2006, 09:13 PM
I just spoke to John and it seems someone hacked his site!
Hmmm... The competition strikes? I hope to have all my arrangements made and my deposit sent by end of day tomorrow. I can't wait! :D
guttaman
03-02-2006, 09:19 PM
At $50 a night, its like 450 nights for 22.5K. What you going to get for it after that?
As i thought John would not take less than $30,000 on the very low end for a studio. Hacked site or not. We are here to help each other out and please enter any real estate deal in the DR with much research.
Seņor Jimmy of Medellin
03-02-2006, 09:19 PM
Hmmm... The competition strikes? I hope to have all my arrangements made and my deposit sent by end of day tomorrow. I can't wait! :D
What are your dates?
What are your dates?
4/29 - 5/6
Maximus
03-02-2006, 09:31 PM
4/29 - 5/6
Looks like they'll only be 1 room left now!
What airport are you flying home from? I leave 5/6 from Santiago
Looks like they'll only be 1 room left now!
What airport are you flying home from? I leave 5/6 from Santiago
There is a small studio left. I am flying in and out of Puerto Plata. Book soon that last room is sure to go quick. It looks like a full house of the usual suspects (great for my first trip) and promises to be a really good time.
Flying Continental?
Yes, out of Newark Liberty. I don't have enough miles to get the trip for free, but this trip and the next business trip I take should put me over the top for a free round trip next time.
Can anyone tell me if the Palace has safes in the rooms? I forgot to ask John. I can always email him.
Flight 512? If so I will see you in Newark.
gdogg
03-03-2006, 09:28 AM
Alright guys, don't scare me like that. That's probably where I'm staying in about 40 days!
sicpup71
03-03-2006, 11:59 AM
Yes, out of Newark Liberty. I don't have enough miles to get the trip for free, but this trip and the next business trip I take should put me over the top for a free round trip next time.
Can anyone tell me if the Palace has safes in the rooms? I forgot to ask John. I can always email him.
yes they do have a safe in each room
the_Jayman
03-03-2006, 12:52 PM
yes they do have a safe in each room
In each unit . . . the 2 bedroom apartments share 1 safe don't they ?
sicpup71
03-03-2006, 01:05 PM
In each unit . . . the 2 bedroom apartments share 1 safe don't they ?
yes sir they do.
Powered by vBulletin® Version 4.2.4 Copyright © 2024 vBulletin Solutions, Inc. All rights reserved.