Boy, deals are hard to close if you want to ‘do it right.’
Saratoga Polo, in New York state, still lingers as we get the documentation correct. The good news is that the polo season is progressing grandly thanks to Jim Rossi and Mike Bucci, who have managed this process for a number of years. Record crowds and grand polo. Duane Gerenser heads our team there.
Ocean Lodge, on St. Simon’s Island off the Georgia coast: Our proposal to change from timesharing to fractions is still in process. Owner Joe McDonough and project director Ken Cates are working over the proposal sent by the team of myself, Marvin Rappaport and Scott Tracy.
Big Bear Lake, California: Marina Point is unfortunately in the general area of all the fires. We have a proposal on the table with the owner to build out seven of the buildings with a total of 49 two-bedroom, lock-off units to fractionalize. There’s a sudden interest in a hotel component, as well as a real market for whole units, too. We will get to that in the second step. This also is with Marvin Rappaport, Scott Tracy and myself as the team.
Markleeville, California: Located in the Sierra Nevada mountains about half an hour from South Lake Tahoe, this is a project 19 years in the making. Scott Tracy and I are leading the team, and are working with Dick Ragatz on the project appraisal and funding.
Then, there’s Windham, New York, a very successful four-seasons resort area north of NYC. Adjacent to the ski area is 340 acres ready for development. We have met with the owner, who is currently in Greece, and his team, and see this as a follow on to Saratoga Springs. Again, Duane Gerenser heads our team for this potential deal.
Lest we forget there’s Tunisia, which is currently in limbo due to illness and replacement of ministers in the country.
