" Malecon Center Condos " good investment or not ?

I thought these condos would have been finished by now.
When do they say they will be ready then?

There are more new appartments being built on the malecon like the Puerto Merengue tower in between the V Centenario and the Melia hotels. Same website I think puertomerengue.com
It's good to compare I think.

Bartolomeo

I don't know if its worth the investment, but they are FABULOUS!!! The penthouses, which I was told are all SOLD, were like freeking palaces. All with incredible views, of course. You would never have to leave. I don't know if I would like living over a mall, but if you can afford it...GO FOR IT! I was interested at first but then saw the price tag and immediately became a lookie-lou. I can't see dropping that kinda of cash on a condo (not even in the states). The back towers were alot cheaper but there's no pool access and not much of a waterview.

Another thing, the lady showing us the property mentioned that a majority of the residences were bought by people living abroad. I understood her to mean Dominicans living abroad, but I am sure a few expats were included. She made it seem like these were second or third homes for many of the buyers.

Go take a tour. Its like test driving a Mercedes and then returning to your Yugo.

Where did I put that damn lottery ticket?!
:laugh:
TEHAMA

iluvdr said:

And if they build the marina across the street this will become the first 5 star venue in the DR.

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Marina? I would like to know how they plan to do that.

In real estate in the DR there are better ways to use your $300-500K I think, for a quicker turnover but I have seen the place and looks great.

May I visit when you move in?
TEHAMA :nervous:

I think Malecon Center is a great investment due to the following reasons. These reasons are important at the time of selling the property...

1. The buildings were built with the latest tectonic technology. This means that if anything, these buildings will be standing even after a strong earthquake hits. Now, SDQ doesn't get earthquakes as strong or often as Santiago does, but Santo Domingo has done its fair share of shaking through out its 500 years of existence.

This tectonic technology used is a nice form of insurance. In addition, the buildings are built to sustain high velocity winds and many of its windows have a high possibility of surviving a category 1,2, and maybe even 3 hurricane. At these latitudes and longitudes of the world, this is a must!

2. Convenience, convenience, convenience. The shopping mall is an added bonus, the hotel and the Casino is even a better added bonus. The many restaurants, the nightclubs that will exist within the premises, etc. This project is all about convenience and who doesn't like that?! As if that wasn't enough, this project has its very own power plant (electricity 24/7 because it will not rely on the grid).

3. Location, location, location. Not only is the project on the most beautiful avenue in the city, but its right by the sea. This means, guaranteed sea views for as long that those towers exist. Other towers in SDQ have to worry of other projects blocking their sea views, not here. And if anybody knows anything about high class real estate, water sells all the time. These towers also offer fabulous views of the urban coastline and the metropolis itself.

There are many other reasons why I think Malecon Center is a great investment, but these are the top three. These three reasons are behind the selling point for these properties right now and will continue to be the selling point in the future.

I'm not sure if this project includes a heliport, but that is an added bonus. Why go through the urban mayhem from the Airport to the city when you can hop and helicopter and in a few minutes be in penthouse enjoying the good life, right?!

And the marina is even better. Dock your yacht, cross the avenue and voila, you're home.

And, if all of that doesn't make a sell, then tour your apartment (when you are ready to sell of course) when the sun is setting! Sunsets are amazing from the Malecon at ground level with those puffy cumulous clouds rising over the sea while the sun sets and cast a nice orange and purple glow on everything. Imagine how much better the view must be from one of these towers!

Malecon Center is a great investment and will become even better as the city continues to progress through the years.

Nal0whs said:

And the marina is even better. Dock your yacht, cross the avenue and voila, you're home.

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What marina?

Robert said:

What marina?

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This is under the assumption that it does gets built. A marina was a conceptual thought to be added into the project, but its not a sure thing as of yet.

At least, this is as much as I'm aware of this, unless any new developments on this project have arisen lately.

But regardless, marina or no marina, this is still a fabulous investment. A marina would simply make it more so.

Hey, Nawl0whs!!

What's your source on the structural integrity of the Malecon Center and all that other "fancy" technical stuff?

Having lived in San Fran for longer than I wish to say, I am always concerned about a building ability to give and not snap. That was the other thing I didn't want to mention about my tour, but thought alot about personally.

Remember they still have that unfinished highrise to the west that was rumored to be unsafe. It is a major eyesore with weeds all over it now.
TEHAMA

TEHAMA said:

Hey, Nawl0whs!!

What's your source on the structural integrity of the Malecon Center and all that other "fancy" technical stuff?

Having lived in San Fran for longer than I wish to say, I am always concerned about a building ability to give and not snap. That was the other thing I didn't want to mention about my tour, but thought alot about personally.

Remember they still have that unfinished highrise to the west that was rumored to be unsafe. It is a major eyesore with weeds all over it now.
TEHAMA

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The last time I met Mr. Sandoval a couple of months ago, he was bragging about this project of his. He kept pin pointing out that feature, I suppose he was trying to sell me idea of buying of something.

From what I noticed with the way he said it and the fact that I did not noticed any facial expressions or body movements that would indicate a lie, I'll take his word for it.

By the way, he is also the guy behind the Torre Carib in Avenida Anacaona and the Torre Tramontana in Seralles.

However, the real estate agency you dealt with for the tour or purchase should have known such info, since such thing would be a selling point since it does calm down nerves. You know, people buy on emotions, but they also don't buy based on emotions. It all depends on which emotion they are experiencing.

Have you ever sat and watched the waves pounding the shoreline near that development? I have. Without a costly artificial barrier to protect it, I doubt there will ever be a working marina there. Also not sure such a project would ever pass an environmental impact study either...

If there is not a heliport, you can scratch the "easy to get into and out of" argument as well. The traffic may be a bear around there once it opens fully, particularly on Sundays when part of the malecon is closed....

Able to withstand a force 2 or 3 hurricane? Wasn't Georges -- the one I went through in 1998 -- force 4 when it hit Santo Domingo? And I don't think it has been the only one, nor will it be in the near future....

Latest earthquake proof tech? Sure hope so, given the height & weight. Also hope they have watched the construction company like a hawk. Citibank also insisted on this precaution for the Acropolis design, but then spent the entire construction period fighting with the construction firms to make sure they stuck to specs...

24/7 power is nice, but it definitely implies high condo fees.

Just food for thought...

If there is not a heliport, you can scratch the "easy to get into and out of" argument as well. The traffic may be a bear around there once it opens fully, particularly on Sundays when part of the malecon is closed....

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This project does include entry and exit via Avenida Independencia as well.

Able to withstand a force 2 or 3 hurricane? Wasn't Georges -- the one I went through in 1998 -- force 4 when it hit Santo Domingo? And I don't think it has been the only one, nor will it be in the near future....

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Yes, it won't be the last one, but hurricanes of such force don't hit us full force very often. In fact, the DR doesn't get hit as often as other islands.

You have a greater chance of seeing a hurricane in Florida than in Hispaniola. Actually, historically Florida has a higher chance of getting hit straight on by a Hurricane than any of the islands in the region. Go figure...

24/7 power is nice, but it definitely implies high condo fees.

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Some times you got to do what you got to do in order to make your life that much better.

Just food for thought...

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Indeed!

Nal0whs said:

This project does include entry and exit via Avenida Independencia as well.

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Yes, and you undoubtedly know as well as I do how busy Av. Independencia gets. Nice try.

Yes, it won't be the last one, but hurricanes of such force don't hit us full force very often. In fact, the DR doesn't get hit as often as other islands.

You have a greater chance of seeing a hurricane in Florida than in Hispaniola. Actually, historically Florida has a higher chance of getting hit straight on by a Hurricane than any of the islands in the region. Go figure...

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Hmmm, let's see... since 1979, there's been David and Georges. Think two major hurricanes in 20 years is enough? Again, nice try.

Some times you got to do what you got to do in order to make your life that much better.

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Perhaps. But given the prices of the real estate in this development, and the likelihood of sky-high fees, I'm wondering if there might be better investments for the money in SD....

Just pointing this out so that iluvdr does not go into buying with only the rose-colored glasses presentation. He should look at all of the trade-offs, and decide on that fully-informed basis what matters to him and what doesn't. I suspect that is why he started the thread in the first place.

I think you're right, Keith. I think we all have add some good comments for iluvdr to consider. Just one other comment to add: I like the culture of DR, the feel of a different country, even my neighbors. That building with all its wonderful upgrades could be in any city in the world...Chicago, New York, Madrid, Sydney. I am just not sure if I could maintain the same level of appreciation for DR going from one comfort area to the same comfort level.

Does that make sense?
TEHAMA

OKAY!!...so my green-eyed monster-side is showing.

Robert said:

Marina? I would like to know how they plan to do that.

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Didn't I read a couple of months ago on DR1 news that the new DR gov't was taking up the old idea of building a marina on the malecon? But if my memory serves me well, I thought they planned it somewhere near the Obelisco or closer to the Zona Colonial anyway.
Bartolomeo