Multimillion dollar deal for nearby island

Times are not tough for everyone. The Multiple Listing Service shows a deal is
pending for Thatch Cay, a 237-acre island close to St. John.  It has five miles of ocean coastline. Here’s a video tour
of the private island
.

Listing broker was Holiday Homes. Asking
price was $24 million. (Hmm … 6% of $24 mill …)

With real estate inventory at a record high, Scotia Bank is
offering 95% financing on land purchases.  20 year amortization.  The
MLS also lists 139 homes for sale and 298 land lots.

4 thoughts on “Multimillion dollar deal for nearby island”

  1. Frank, hope all is well on the home front.
    What do you think about a bunch of guys / gals get together and turn the island into some kind of Disney World but more with rides. A light parade at night. Great lit up ferris wheels and roller coasters to brighten up the night skies.
    I think we can make it fly. What we can do is allow the investment group free lifetime passes.
    Can we do it????

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