U.S. Assets Group News
Orchid Beach Close to Complete Even with Hurdles
10/05/2005
October 5, 2005, 2:22 pm
When U.S. Assets Group began its Orchid Beach Club on Lido Key in January 2004, partners Tom Brown and Jay Tallman figured the luxury condominium complex would be complete in Autumn 2005. Between then and now, there were four hurricanes, 60 inches of rain and critical shortages of labor and materials.
The duo is still expecting to close on 51 of the 54 homes by the middle of this month despite all their travails.
"We're very proud of that," Tallman says.
The condos have sold for average of more than $2 million. Two penthouses sold for $4.6 million and $4.8 million.
Income from the closings as of the end of September was $75 million, with the balance of the 51 expected by mid-October. The partners figure the final figure will be about $110 million.
Orchid Beach close to complete even with hurdles
Orchid Beach still going to be finished despite nature's obstacles
MATTHEW SAUER
The duo is still expecting to close on 51 of the 54 homes by the middle of this month despite all their travails.
"We're very proud of that," Tallman says.
The condos have sold for average of more than $2 million. Two penthouses sold for $4.6 million and $4.8 million.
Income from the closings as of the end of September was $75 million, with the balance of the 51 expected by mid-October. The partners figure the final figure will be about $110 million.
