Boca Raton Condo (AKA Palm Beach Resort) Vegas (foreclosure, leasing)

Mikecho · 03-12-2011, 08:45 AM

I am looking at buying a foreclosure condo here. I have read some of the other blogs about the property. I like this property better than the Manhattan or Park Ave.

Regarding the BOCA RATON, is there any updated information relating to the HOA or the developer? Any recent news not mentioned in the other post would be helpful. I know all the positives about this place; but like anyone buying, I am more concerned with all the negatives. Any advice is great!

Thanks,

Mike

thejuliet · 03-12-2011, 11:17 AM

Sorry I can't help you. I am curious as to why you like the Boca Raton property better than Park Avenue and Manhattan? I am interested in Park Avenue, and I think the BR HOA fees are more than I want to pay for so far down the strip. Have you been into the Park Avenue development? What did you think?

vegaslocal55 · 03-12-2011, 01:41 PM

When I first started looking I thought it'd be between Boca, Park Ave. & Manhattan. HOA fees at Boca turned me off, not enough are privately owned, very small units, many without balconies & I've already done the high-rise resort living thing for many years. Park Avenue looked great in the photos but the 2 times I went there it didn't seem nearly the quality or class of Manhattan-vinyl floors & Formica countertops in many of the units, no grass anywhere, & some past major HOA issues. I decided the only place where I would buy is Manhattan, looked there for 9 months, & I'm closing next week! I love the architecture, the grassy park areas, the floorplans & the upgrades that all units came with.
Anyway, good luck with Boca Raton & Park Avenue, but consider giving Manhattan another shot! I'll be there!

thejuliet · 03-12-2011, 04:19 PM

VL55 when I'm a little closer to buying I will give you a shout if thats OK? I have some questions about some of the bylaws and I am sure the 2 paces are similar. I have bought and sold condos in the Vancouver BC area a few times and it seems the rules are different up here ( a lot more transparency up here) you get to see the bylaws and 2 years of minutes BEFORE you put in an offer, so you can see if there is any BS before falling in love with a place and finding out you can't bring fido or I have to be 65yrs. old to live there. I will take a look at the Manhattan as well.

thejuliet · 03-12-2011, 04:24 PM

VL55 when I'm a little closer to buying I will give you a shout if thats OK? I have some questions about some of the bylaws and I am sure the 2 paces are similar. I have bought and sold condos in the Vancouver BC area a few times and it seems the rules are different up here ( a lot more transparency up here) you get to see the bylaws and 2 years of minutes BEFORE you put in an offer, so you can see if there is any BS before falling in love with a place and finding out you can't bring fido or I have to be 65yrs. old to live there. I will take a look at the Manhattan as well.

007 license to sell · 03-13-2011, 09:02 AM

Once your offer is accepted then you get to get a hoa resale pkg, to go over the rules regs, and financials. Boca is made of concrete and steal much like the highrise properties, where as Manhattan and Park avenue are stick built.
I haven't heard anything lately regarding what is going on with the developer most of the remaining inventory is in the leasing inventory. The last I heard the bank holding the note was trying to find a buyer for the project.

vegaslocal55 · 03-13-2011, 09:43 AM

Quote:

Originally Posted by thejuliet

VL55 when I'm a little closer to buying I will give you a shout if thats OK? I have some questions about some of the bylaws and I am sure the 2 paces are similar. I have bought and sold condos in the Vancouver BC area a few times and it seems the rules are different up here ( a lot more transparency up here) you get to see the bylaws and 2 years of minutes BEFORE you put in an offer, so you can see if there is any BS before falling in love with a place and finding out you can't bring fido or I have to be 65yrs. old to live there. I will take a look at the Manhattan as well.

Anytime, Juliet. Believe me I asked a lot of questions & I'm pretty picky. I just moved out of Sky which I also recommend as a good alternative for those wanting to be on The Strip. (Wow, what a view I had from a top floor unit facing south!)

Mikecho · 03-13-2011, 02:00 PM

The reason I am focusing on Boca Raton is that it looks more upscale and resort like. The Manhattans look more APT like and less condoish. Park Ave interior looks out dated. How much are the HOA fees for the Manhattan or Park Ave anyone? I have also read that the Park Ave has has major issues with the HOA. I don't see a lot of complaint with Boca (I know it is the RMI who manages this). I still have to physically give a hard look at all of these properties.

thejuliet · 03-13-2011, 02:43 PM

The HOA fees for Park Ave, seem to be advertised between $230.00 - $246.00 per month, Boca listed at $429.00 per month. For the $$$ that I would save on the Park Ave. condos I can do some pretty nice reno's myself even hiring someone. I've done a couple condo renos before and have a pretty good idea what everything costs and what's involved. The only thing more that the Boca seems to offer that Park Ave. and Manhattan doesn't is shuttle service to the strip. I don't think the "free" shuttle service is worth $183.00 more per month in HOA.

I haven't physically compared them yet either, I am still at the virtual shopping stage. I do know that I won't consider a HOA fee over $300.00 if I don't have to, I don't need a lot of the services that the big high rises are offering, and I want something a little more residential feeling to it that is still a condo not a SFR.

vegaslocal55 · 03-13-2011, 03:30 PM

Yes, Boca is very beautiful & resort-like from the exterior. Interiors are small. I've loved my years of high rise living but the green grass at Manhattan is going to make me & my little dogs very happy. Also Boca is very close to the highway & I like to keep my windows open. I believe the free shuttle service is only to the Strip, not from, & I bet you'd feel cheap tipping anything under $5.
Manhattan HOA fees are $214 for 1 BR & $268 2BR.