Russian billionaires in San Marco

MusicMan · June 07, 2018, 03:18:48 PM

Heard on the street that a Russian billionaire has purchased the monstrous waterfront property at the end of Brookwood in SM to build a 50,000 sf home and dock a 200 foot yacht. Anyone know any more about this?

jlmann · June 07, 2018, 04:21:50 PM

in Russia boat docks you!!

jlmann · June 07, 2018, 04:23:15 PM

i sure would've thought we wouldn't get assigned a new warden of Jacksonville by Vlad until maybe Trump's third term. Interesting!

brainstormer · June 07, 2018, 07:40:53 PM

When the property was last sold in 2016, there were comments about it being torn down. That was over two years ago so maybe the investors are finally going to do something with it.

acme54321 · June 07, 2018, 07:44:52 PM

I heard the same from someone in the know last year. Also, three pools and a gatehouse for on site security. Sounded exactly like what you would expect from a Russian billionaire.

Kiva · June 07, 2018, 08:45:37 PM

When it sold in 2016 for $8.5 million the realtor mentioned that there is room for a helipad! Currently the dock is 400 ft long.

MusicMan · June 07, 2018, 10:24:38 PM

It did not 'sell' on MLS. It shows as "Expired." It sold for $8,500,000 and the previous seller (Mussalem Family Trust) is holding paper on $3,500,000.

So $5,000,000 changed hands. Current owner (COJ.net) is Kennard Investors Corp with a Gate Parkway address.

It doesn't add up......................

Shad Khan, is that you?

Captain Zissou · June 08, 2018, 09:19:42 AM

I've seen the drawings. It's going to be enormous. There are a lot of rumors surrounding specifics, but 4 stories if you include the bottom floor built into the slope and 25,000 sf minimum.

river4340 · June 08, 2018, 09:37:19 AM

Quote from: brainstormer on June 07, 2018, 07:40:53 PM
When the property was last sold in 2016, there were comments about it being torn down. That was over two years ago so maybe the investors are finally going to do something with it.

yeah, that's what Mussallem said at the time.

http://www.jacksonville.com/business/real-estate/2016-02-09/story/san-marco-home-sells-85-million-it-might-be-torn-down

MusicMan · June 09, 2018, 06:09:28 PM

Ok so is it an investor spec home or for an individual?

Someone must know......

Plus, $8.5 million for a tear down is common in South Florida. Pretty much never happens in North East Florida.....

Captain Zissou · June 11, 2018, 10:30:56 AM

It's for an individual. Nobody would build a house of this size in Jacksonville as an investment.

acme54321 · June 11, 2018, 11:56:19 AM

Speaking of spec houses in San Marco...

What's with the house going up at the corner of Hendricks and Alexandria Pl? Certainly not another spec house considering the one next door has been sitting there for years now. Why anyone would want to drop that kind of cash on a house on Hendricks is beyond me.

jlmann · June 11, 2018, 05:18:20 PM

mussalem takes offer under asking with a private note for balance, Russian billionaire rumors, buyer sits on prop for years and plans to sink cash into real estate above what any prudent man would do

lol did the Hapsburg group advise on this one?

ProjectMaximus · June 11, 2018, 07:13:50 PM

Quote from: acme54321 on June 11, 2018, 11:56:19 AM
Speaking of spec houses in San Marco...

What's with the house going up at the corner of Hendricks and Alexandria Pl? Certainly not another spec house considering the one next door has been sitting there for years now. Why anyone would want to drop that kind of cash on a house on Hendricks is beyond me.

Haha they're building another one now?? Wow! Gutsy...they really are banking on East San Marco and somebody falling in love with the location.

They had the lot for sale about 3 years ago and I was interested in doing a 4-plex or 8-plex...whatever could conceivably fit on there. But was told there's no way the zoning would be approved so we moved on. I cant remember distinctly but I think they were asking close to $1M, and they said they planned to develop themselves if they couldn't get the price they wanted.

Captain Zissou · June 12, 2018, 09:22:01 AM

^ The new one looks better than the first one, from what I can tell. I thought a 4 or 8-plex would be a better fit for that parcel, but the neighbors would be up in arms. You could put parking in the back on Mitchell and it would be a nice buffer from the busy traffic. As it is, I can't see who is going to pay a million to have Hendricks Avenue 20 feet from their wall.