EDEN, PARADISE LOST
This is a cautionary tale, about a group of Americans just like you and me.
It is about "Eden," an upscale, condominium development in Boca Raton, Florida that certainly has not lived up to any notion of paradise.
This condo was scheduled for completion years ago. Purchasers were excited about its great address and proximity to the beach. Eden is also located near local attractions such as Mizner Park (an upscale shopping and housing development complete with a fine regional museum and amphitheater).
The condo promised all the amenities a would-be buyer would love. A large, resort-style pool, club house, exercise room and all those bells and whistles developers promise.
A buyer at Eden was not just purchasing a condo, but a relaxed, vacation-like lifestyle which extended to the individual apartments. All totally new, with fine finishes and features such as over-sized bathrooms, wood floors, flexible floor plans, large closets, granite countertops. Everything new, everything beautiful, everything perfect.
As the sales brochures and in-house sales personnel informed prospective buyers: "You are purchasing Eden."
WELCOME TO REAL ESTATE HELL!
Unfortunately, none of the promises has materialized.
The poor purchasers -- unfortunate souls all -- have waited over two years for the developer, a company called Ceebraid-Signal, to complete their homes. These prospective owners have been more than patient, making calls to the developer, local newspapers, and politicians. Some have even hired attorneys.
While a few purchasers have moved in, most haven’t. And, as our picture shows, the bulk of the buildings remain uncladded shells.
What is most interesting is the company’s principal, a fellow by the name of Adam Schlesinger, stakes claim to this marketing doozy -- perhaps the most ambitious and ridiculous we have ever encountered.
And for that, Mr. Schlesinger is our nominee for "Developer from Hell."
Comments
I have purchased a condo at Eden. I have not moved in and am incredibly frustrated. I feel I got in at the right time, however I am not getting any younger waiting. I am now not sure if I should try to get out or stay in. The developer has not cooperated in any way.
Posted by: J.D. | February 23, 2007 2:55 PM
J.D.:
I would hold out!
Those units -- when offered for sale -- were, in my opinion, undervalued.
Where will you be able you find comparable units in the East Boca Raton area? (Nowhere, of course!)
That area is real hot!
As you probably know, new condos are under construction on Palmetto and the prices are three to four times what you paid!
If I were you, I'd hang in there as long as I could.
Posted by: Ralph S. | February 28, 2007 1:38 PM
By now you know what has happened to the realestate market. Get out.... the place is never going to be finished. Poor quality and shaddy workmanship makes this a big looser. Get your money and run. Many bargins to be had, this is not one of them.
Posted by: Karen | August 21, 2007 12:53 AM
Unless this is designated a HUD property offering you have every right to cancel the contract after two years from the time you signed your contract and everyright to your deposit back. There are also federal agencies that can help you for free on this if you are an older person. Don't listen to the asshole who posted above he is obviously a self serving real estate agent who probably sold you the property.
Posted by: legal gun | November 1, 2007 11:42 PM