Club land’or

[CPNY]

What’s the deal? This place was on life support before covid. Is this another business casualty of Covid? Any owners in here (doubt it) would love an update. It would be interesting to see what happens. Maybe Marriott would buy the land and build an actual MVC mega tower they love so much.

 

[Free2Roam]

Is this the one right next door to Harborside Resort on Paradise Island (Atlantis)? If so, when we visited Harborside 5+ years ago that resort seemed pretty occupied... but on our last visit (I think in 2018) it seemed like a ghost town.

 

[CPNY]

Is this the one right next door to Harborside Resort on Paradise Island (Atlantis)? If so, when we visited Harborside 5+ years ago that resort seemed pretty occupied... but on our last visit (I think in 2018) it seemed like a ghost town.

Yes. I heard they haven’t collected MF this year. Is that it? Did covid finally kill this place?

 

[HenryT]

Is this the one right next door to Harborside Resort on Paradise Island (Atlantis)? If so, when we visited Harborside 5+ years ago that resort seemed pretty occupied... but on our last visit (I think in 2018) it seemed like a ghost town.

Yes, it is the resort next door to Harborside.

The Harborside developer in the past wanted to purchase this resort to tear it down and build something that was a part of Harborside/Atlantis but Club Land' Or wanted too much money I believe. Maybe now it can be picked up for much less money. Not sure how to handle the current Club Land' Or owners though.

 

[CPNY]

Yes, it is the resort next door to Harborside.

The Harborside developer in the past wanted to purchase this resort to tear it down and build something that was a part of Harborside/Atlantis but Club Land' Or wanted too much money I believe. Maybe now it can be picked up for much less money. Not sure how to handle the current Club Land' Or owners though.

I don’t see any further expansion. I highly doubt Brookfield would want to invest in that property and I doubt MVW needs to expand the vacation club since I’m sure they are sitting on plenty of inventory from foreclosures

 

[HenryT]

I don’t see any further expansion. I highly doubt Brookfield would want to invest in that property and I doubt MVW needs to expand the vacation club since I’m sure they are sitting on plenty of inventory from foreclosures

Good point about the foreclosures but I am thinking more on the line of tearing down Club Land' Or so Brookfield could extend the Marina Village so that it totally connects Harborside to Atlantis, i.e., additional retail space (restaurants, nightclub, shopping, etc.).

Adding the right retail mix could increase the demand for Harborside and help with the foreclosure problem.

 

[emeryjre]

What Foreclosure problem??

 

[HenryT]

What Foreclosure problem??

A lot of the units at Harborside have been foreclosed on because of overdue maintenance fees. That is one of the reasons the maintenance fees have increased so much as the remaining owners have to share the cost of the unpaid maintenance fees on the foreclosed units (until they are resold). I expect the foreclosures to continue as it is very difficult to sale these units because of the extremely high maintenance fees.

I am not sure what Harborside does with the rental fees they get from renting out those foreclosed units though.

 

[CPNY]

Ok so I walked by club land or today and saw a local friend. So I asked what the deal was. It looks like it’s beyond shambles and uninhabitable Yet, there are plenty of cars, what’s going on?

well, it turns out the place is being operated as a “short term rental”. How short? “It’s a place for guys to rent a room for a few hours to spend with their hunnies” gotta make something since covid.

 

[emeryjre]

I looked up some information on Club Land'or. Has a chaotic history with bankruptcy, law suits, and other troubling events. Can not find out who is the current owner doing Google searches.

A decent piece of property for someone. The current owners of Atlantis/Harborside seem to have no interest in investing in the future of Atlantis, but rather taking out as much money as they can before they sell it to someone else. The current owners are not hotel people, but rather lenders.

 

[CPNY]

I looked up some information on Club Land'or. Has a chaotic history with bankruptcy, law suits, and other troubling events. Can not find out who is the current owner doing Google searches.

A decent piece of property for someone. The current owners of Atlantis/Harborside seem to have no interest in investing in the future of Atlantis, but rather taking out as much money as they can before they sell it to someone else. The current owners are not hotel people, but rather lenders.

When Sol Kerzner Owned the Atlantis, he had interest in buying the property but the owners wouldn’t sell. Too bad, they could have extended the marina village or made another phase to then harborside (not like it’s needed)

 

[emeryjre]

Of course Sol wanted the property. And the owners of Land’or used that knowledge to play financial games, borrow against the property, sell dreams to investors and create a legacy resort that is used as a flophouse.