Beachfront Hotel in Sosua $49,000,000 for Sale

[Beads]

Brief description: Two Resorts and Casino. 250 Rooms
Features / Amenities: Beachfront, Ocean front, Gated community, Pool, Ocean View, Air Conditioning, Hot Water, Power Plant, Security, Furnished, Jacuzi, Cable TV, Satelite, Telephone, Internet, .



http://www.drlistings.com/en/realestate/property-Beachfront+Hotel+in+Sosua+%2449%2C000%2C000+for+Sale+Dominican+Republic-1475.html

You only get to see 1 photo and they want $50million.:rofl:

I'm sure most people will recognize the place though.

[SJG]

There is nothing in Sosua woth $50M USD.

[Apos]

...and not a lot worth even 50 million pesos (about 1.5 million USD)
There is nothing in Sosua woth $50M USD.

[Jimmydr]

If the 20 room Europa was asking $750,000 then what does a hotel 15 times the size ask for?

[Jimmydr]

...and not a lot worth even 50 million pesos (about 1.5 million USD)

For 1.5 million it would be sold in one day.

[Apos]

did the europa shrink?

surely there are more than 20 rooms in the europa hotel.
If the 20 room Europa was asking $750,000 then what does a hotel 15 times the size ask for?

[Jimmydr]

did the europa shrink?

surely there are more than 20 rooms in the europa hotel.

You are right, its 50 rooms. But europa is over 15 years old.

[Apos]

obviously :rolleyes:
For 1.5 million it would be sold in one day.but no one has said that it's worth that little. just no where near 50 million USD.

jimmy,

other than a few individual mansions, some select large businesses, like perhaps the large Playero, and much of Sea Horse Ranch how many places are worth even 1.5 million in or near Sosua?

[Beads]

There is nothing in Sosua woth $50M USD.

yes their is a night with Daisy! :rofl:

[Jimmydr]

obviously :rolleyes:but no one has said that it's worth that little. just no where near 50 million USD.

jimmy,

other than a few individual mansions, some select large businesses, like perhaps the large Playero, and much of Sea Horse Ranch how many places are worth even 1.5 million in or near Sosua?

That Hotel is on the water and has well over 200 rooms, maybe even 400 rooms. I forget. Its got to be worth at least $5,000,000 - $7,5000,000.

[Apos]

even so, how old is casa marina and what is their capacity?
You are right, its 50 rooms. But europa is over 15 years old.assuming that it's casa marina that's the AI for sale :lol:

[Jimmydr]

Casa marina is around 15 years old at least. I thought it was that Casino Hotel?

[Apos]

please,

forget about casa marina for a second and tell us what else in the area is worth more than 1.5 million USD in your opinion.
That Hotel is on the water and has well over 200 rooms, maybe even 400 rooms. I forget. Its got to be worth at least $5,000,000 - $7,5000,000.

[Jimmydr]

please,

forget about casa marina for a second and tell us what else in the area is worth more than 1.5 million USD in your opinion.

Playero Supermarket is worth at least $1,000,000. Nothing else comes to mind.

[Apos]

quite possibly.

BEADS!!!!


what's the name of the place that this thread is about :rofl::rofl::rofl:
Casa marina is around 15 years old at least. I thought it was that Casino Hotel?

[Apos]

Casa marina is around 15 years old at least. I thought it was that Casino Hotel?so back to reality...how old is the complex for sale ( it does have a casino so go figure :))

it says the number of units in the first post :D 250

[Jimmydr]

so back to reality...how old is the complex for sale ( it does have a casino so go figure :))

it says the number of units in the first post :D 250

So you think its Casa Marina? If a Marriott was to buy it, they may pay $40,000 per room and then additional for common areas? Has to be $5,000,000 to $10,000,000.

[Jimmydr]

so back to reality...how old is the complex for sale ( it does have a casino so go figure :))

it says the number of units in the first post :D 250

Then its not Casa Marina? Since Marriott and Hilton are in the Capital and both have Casinos, it would be worth more to them if they were to buy it.

[Apos]

no, i suspect i stand corrected that it's the casino hotel or whatever it's proper name is.
So you think its Casa Marina? If a Marriott was to buy it, they may pay $40,000 per room and then additional for common areas? Has to be $5,000,000 to $10,000,000.40K is pretty high depending on the age...anyone know the age of the complex?

regardless the point is they are asking almost 50 million when the rooms alone are only worth max 10 million. what are the other buildings worth. i find it hard to believe that even with the new, but not completed, casino the whole package is worth much over 20 mill (if that), certainly no more than 25 mill.

[Jimmydr]

Well then we agree on something. $25,000,000 TOPS!

[sicpup71]

Brief description: Two Resorts and Casino. 250 Rooms
Features / Amenities: Beachfront, Ocean front, Gated community, Pool, Ocean View, Air Conditioning, Hot Water, Power Plant, Security, Furnished, Jacuzi, Cable TV, Satelite, Telephone, Internet, .



http://www.drlistings.com/en/realestate/property-Beachfront+Hotel+in+Sosua+%2449%2C000%2C000+for+Sale+Dominican+Republic-1475.html

You only get to see 1 photo and they want $50million.:rofl:

I'm sure most people will recognize the place though.


It is for sale at $49,000,000 (USD)
The Hotel has 127 bedrooms and 378 bathrooms.

[Beads]

From that blurry picture it looks like its the resort areas with the newly finished casino. I went on the little free tour of the place a year ago and they described the place as 2 resorts. the main one Sosua By The Sea is the AI people go to while there is also another section which is all timeshares. They were trying to sell me a timeshare on the other side. The grounds are enormous but as you guys say 50M is far too high.

Ill use my typical DR buying rule on everything and say 1/3 of asking price is what one should pay for it so ~17M.

I find it amazing but a good portion of Sosua is for sale on the internet. People looking to get rid of their place and move on I guess? Too bad the asking prices what you can actually pay for them are so different.


Theres also so much new construction while still having a huge surplus of stuff for sale looks like a recipe for disaster in the future.

[El Drunko]

I just clicked on this link. Here's what it says.

The property you are looking for has been sold or hidden from our listings by his publisher.

[snoozer]

From that blurry picture it looks like its the resort areas with the newly finished casino. I went on the little free tour of the place a year ago and they described the place as 2 resorts. the main one Sosua By The Sea is the AI people go to while there is also another section which is all timeshares. They were trying to sell me a timeshare on the other side. The grounds are enormous but as you guys say 50M is far too high.

Ill use my typical DR buying rule on everything and say 1/3 of asking price is what one should pay for it so ~17M.

I find it amazing but a good portion of Sosua is for sale on the internet. People looking to get rid of their place and move on I guess? Too bad the asking prices what you can actually pay for them are so different.


Theres also so much new construction while still having a huge surplus of stuff for sale looks like a recipe for disaster in the future.

The link goes no where now but from your description you are talking about the Sosua Bay Resort , the attached Victoria House and the still unfinished casino. Sosua by the Sea is the optional AI located on the far side of Casa Marina.

As to the value, I have no idea, but when did the listing price of a property indicate the true value. When someone buys it we will know the value.

The property is owned by Armondo who also owns the Merengue bar and Classicos, I also heard a rumor that there is another partner involved in the Casino lurking in the shadows ready to stop it opening unless some legal issues are settled.

[Citynights]

casa marina beach & reeef resort has no casino....could they be talking about Breezes.... gated beach resort ...time share area....
really run down I hated it except for the pool area...

[Beads]

It looks like they removed the link. booo!!! Anyhow from what I saw it did in fact look like Sosua By The Sea, the attached Victoria House, and the unfinished casino. From the photo I saw what definitely looked like the unfinished casino which gave the property away.

Kind of strange they removed the listing. Maybe they saw lots of traffic and got scared someone might want to buy it :rofl:

Whats strange though is how are they selling it when TONS of people have timeshares in there. Would they refund the timeshare money? Would those people lose their money? Inquiring minds want to know!

[MisterPink]

Sosua by The Sea is listed for $5.5MM on several other websites, Sosua Bay Hotel is a differant hotel.
The two lots next door are for sale seperately.

http://www.karibik-invest.com/en/real_estate/hotel***-91-rooms-375822444.php

[MisterPink]

Look!!!! Price reduction...ONLY $45,360,000 now!
This is Sosua Bay Hotel. The land for $5.04mm is La Puntilla next door, with that ugly unfinished mess.

http://www.drlistings.com/en/realestate/property-Ocean+front+Hotel+in+N.A.+%2445%2C360%2C000+for+Sale+Dominican+Republic-1544.html

Resort:
45,360,000.00 US$

Extension (8,900 m² Ocean Front Land optional)
5,040,000.00 US$

[vagabond]

Can't we all chip in and make it to a superior ISOC whorehouse resort ?