Comments on: Clearwater Cay Club Law Suit

By: Kimmy West

Kimmy West — Mon, 15 Sep 2008 02:50:08 +0000

The two lawsuits are most definitely related. My husband and I owned a condo and boat slip in what was then called Grand Bellagio at Baywatch (the other side was called Grand Venezia) when Del American was the developer. Then these jokers Clark and Schwarz “bought” the contract from Del American. The whole thing was a fraud from the very beginning, and I protested the whole fake-o thing from the very beginning. Unfortunately, our neighbors preferred the “willful blindlesnss” approach. There’s much more besides what’s listed in the complaint; these jerkoffs also did damage to other “new” developments. I investigated all of these people, and found a boatload of stuff about them by researching the public records. Fortunately my husand and I sold before all hell broke loose and our condo sale was the highest sale on record before all hell broke loose.

By: Jackie Ravena

Jackie Ravena — Thu, 25 Dec 2008 11:32:59 +0000

My husband and I are close to purchasing a condo on the Grand Venezia side. Our understanding it is under new management, however, when I research and read these comments I get quite nervous. Do you have an information you can provide re: Grand Venezia? We’re very curious and afraid of future assessments, etc.

Thanks so much.

By: TimM

TimM — Mon, 05 Jan 2009 23:40:13 +0000

Jackie,

Sorry, I don’t know much about the projects in Florida. I live and work in the Las Vegas area. Sorry!

By: Kimmy West

Kimmy West — Tue, 03 Feb 2009 07:57:25 +0000

Jackie, i sure hope you didn’t go through with the purchase. There’s lots of problems with this property, especially with respect to future assessments. Plus the prior owners convinced the city of clearwater to create a special bond district, which of course the prior owners spent and took off.

I strongly recommend that anyone considering purchasing a unit on the Bellagio or Venezia side consult with their lawyer first.

By: Kimmy West

Kimmy West — Tue, 03 Feb 2009 07:58:50 +0000

BTW, the Las Vegas and Florida properties were owned by Cay Clubs. So were properties in Orlando, Clearwater, Manatee County, the Keys, the Bahamas and others. Just google “cay clubs” and you’ll see where all these propoerties

By: rich jackson

rich jackson — Thu, 05 Feb 2009 22:22:29 +0000

is 2739 Via Capri part of this Grand Venezia at Baywatch? What are the problems with this.. as condos there are selling really cheap

By: kathy

kathy — Thu, 26 Feb 2009 22:24:33 +0000

we are planning on a purchase in this lovely devlopment, with thousands of people who own there. How come all of these people are very satisfied with this developement? Is there always someone in this USA who cannot play by the rules and then lose because of that and blame the people who made the rules a requirement to ownership. And any one interested in purchasing realestate would contact their lawyer, they do not need to take the word of a person in a blog or chatroom as to what is really true and not true. Sorry what happened to you, but maybe you should take some ownership in the consequenses that befell you… As I said a educated consumer or potential buyer would know enough to talk with their personal attorney…Thank you

By: Jake

Jake — Thu, 26 Mar 2009 05:09:11 +0000

Glad I found this - I was seriously considering buying a couple units there. sounds like a nightmare with the threat of assessments.

By: Danielle

Danielle — Mon, 11 May 2009 15:24:03 +0000

Kathy, you sound like the only one with something good to say. My husband and I are considering a purchase here because of the current prices. But I don’t want to be assessed astronomically once we buy or find out there are problems with the association etc. Any info you can provide?? Thanks!

By: Chad Doucette

Chad Doucette — Wed, 03 Jun 2009 22:35:33 +0000

We are seriously looking at purchasing a unit in the Grand Bellagio — the prices are fantastic. What issues does the complex have. Should we be looking else where? Location seems amazing.
Your help and feedback would be greatly appreciated as we are living in Canada.

By: TimM

TimM — Thu, 04 Jun 2009 16:41:31 +0000

Chad,

I do not know any details about this Florida project. My focus is on the Las Vegas project.

By: Jeremy

Jeremy — Fri, 03 Jul 2009 18:28:15 +0000

I know that there are really nice units there and every developer went down, recently- including Del American (original developer before Cay Club).

Some bloggers are just full of venom and needing to throw rocks. If you can get a good price, follow your instincts. Obviously someone who made money wouldn’t hate the developer so much as to try to dig up any dirt from other spit and venom bloggers, unless they need negativity to thrive off of.

All condos are worth less than people bought them for lately- or even in the last 9 years. So that doesn’t make the developer or sales people eveil- it makes them out to be up sh–’s creek, just like the resto of us investors, without a paddle.

By: Jeremy

Jeremy — Fri, 03 Jul 2009 18:36:36 +0000

One more thing- if anyone thought that Las Vegas Cay Club was in a “bad neighborhood”, why is it one of the only places one block from the main Las Vegas Strip? Isn’t it right accross from the RIO? I would think that would have been a bullseye for investors as people want to rent condos not hotel rooms, anymore- and with just a short walk, its a no-brainer. Give it time, it will come back.

By: Elle

Elle — Wed, 08 Jul 2009 23:23:00 +0000

The Grand Bellagio complex does not have the $1300/yearly CDD fee (this is added to the tax bill) & the Grand Venezia complex does. The Grand Bellagio complex has a better management company that keeps the buildings and grounds in great shape… the other side (Grand Venezia) has maintenance issues because the mgmt company has been ripping off the owners by taking money and doing nothing. This complex recently had an election and now the COA Board is made up of owners and they fired the maintenance co. and hired a new one today (7/8/09), so things will probably turn around quickly. This is actually a good time to buy. Another difference between the two complexes is that most units in GV come with furniture/tv’s/appliances- GB don’t. Some units in GB come with garages and/or boat slips, while GV units don’t.

By: Joanne

Joanne — Tue, 01 Sep 2009 21:43:04 +0000

Sunvest Resorts, Harvey Birdman, Luis Birdman are all involves in numerours lawsuits in Florida for condo conversions that have left homeowners is very bad shape. The building are having extensive repair bills in the millions. Many of these developments are going quickly into forclosure. See the Las Vegas Lawsuit Donovan VS. Flamingo Palms Villas LLC. now know as the Cay Club

By: Sandy

Sandy — Mon, 07 Sep 2009 15:29:58 +0000

I have lived at the Grand Bellagio for two years and have been witness to the gradual deterioration of the the Grand Venezia side. Our side, the GB is beautifully maintained due to a strong HOA. Without grounds maintenance being done, weeds and grass has grown up into all the landscaping around the buildings and most plants are dying. They have cut the grass twice in the last 6 mos, but have not edged or removed the tall weeds and grasses. The new board is trying to clean up with limited funds available because the GV is mostly rentals owned by who? When they get more units sold (and they are going for very good prices -$120 for a furnised 2BR/2BA), there will be more funds available. However, keep this in mind, even though you may get a condo for a really low price, be prepared to pay large assessment fees for several years as the buildings have not had any care either. As long as you go into it knowing this, it could be a good investment. Before I would buy there, I would speak to the board president about furture plans. Remember those who buy here will have to pay to repair what has been let go. Hope this helps.

By: greg davis

greg davis — Mon, 21 Sep 2009 17:26:58 +0000

Sandy, is GV really in that bad a shape? We’re looking at buying either there or GB and my sister in law was there over the weekend and said it was beautiful. Are there any other problems you know of at GV? I know about the original investors lawsuit and limited info on some of the recent HOA issues….

By: owner

owner — Fri, 06 Nov 2009 03:28:54 +0000

We purchased a beautiful unit in GV in March. There have been problems with the last management company but that has changed with the election of a great COA board and wonderful new management company. They are diligently working to make the GV beautiful again. We were just there in Oct. and the grounds are well maintained with the mangroves cut back for tremendous views of the bay. It is a great opportunity to purchase, great location, great prices.While the buildings were neglected under the old COA, fortunately the buildings are new enough to be repaired which is being done as we speak.

By: bruce

bruce — Mon, 16 Nov 2009 07:03:42 +0000

re: Kathy. I do respect your opinion and do tend to agree that so many people jump into purchases without proper research. However,as a witness to the very similar Vegas situation,it must be noted that if a developer plans extensive projects around a property,then fails to follow through with it-leaving the complex in shambles and broke-this is nothing that hiring even a team of lawyers could have prevented. People purchased units for over $400K,that sold recently for 30-45K. This is way beyond even the Vegas depreciation rate. To blame the purchasers shows a lack of taste and understanding. In regards to location-it can NOT be beat and will come back someday. thanks.

By: bruce

bruce — Mon, 16 Nov 2009 07:11:27 +0000

p.s. A special thanks to Tim for providing information that many other realtors do not seem to know (or pretend not to).

By: TimM

TimM — Mon, 16 Nov 2009 17:23:31 +0000

Bruce- Thanks for your kind words! I invite you to visit my other blog site, www.TimMerrell.com

I’ve started to post the same quality content for several other areas of the Las Vegas Valley.

By: Mo

Mo — Mon, 23 Nov 2009 20:55:12 +0000

Hello everyone

I looked extensively at the GV & GB developments in Mar 08, but could not make the decision to go ahead with a purchase. Do you have contact information for the management office so that I can get some information from them. I want to buy but don’t want to have any nasty surprises.

By: Evelyn

Evelyn — Wed, 27 Jan 2010 14:41:43 +0000

We own 3 units at the Grand Venezia. We purchased within the past year. The new BOD have done an excellent job since taking control from Celebrity Resorts. We have an excellent condominium lawyer and highly knowledgeable management company (PCS). We have made tremendous improvements both financially and in the maintenance of the grounds and continue to do so. We believe that it will be a very good investment down the road. Most of the buildings on the Grand Venezia have water views of Tampa Bay, unlike the Grand Bellagio where many of those buildings don’t. Also, the Grand Bellagio sides onto a trailer park. For anyone who wants more info about Grand Venezia, please visit our website:
www.grand-venezia.com

A multiple unit owner