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Revere’s Ocean Club looks to be a success

The Ocean Club is a luxury midrise condominium project about to break ground in the most unlikely place - near Revere Beach.

The developer has signed reservations or contracts on 30 percent of its 42 units.

Construction is scheduled to commence during the first quarter, 2007.

Units range in price from $300,000 for a one-bedroom to $1,250,000 for a penthouse, with the majority in the $450,000 - $650,000 range.

Source: Revere condo complex makes waves with sales - By Scott Van Voorhis, The Boston Herald


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4 Responses to “Revere’s Ocean Club looks to be a success” »»

  1. Comment by Fever | 12/22/06 at 11:21 am

    John:

    I’m somewhat new to

    the blogging world and this is my first use of the acronym,
    ROTFL, I think I saved it for the

    right time. The Ocean Club is slated to be 242 units so the developer really only has 13

    pre-sales or 5% not 30%. Secondly, both the Atlantica and Surfside Lofts are located near the

    Ocean Club and both projects are performing miserably. What you have is a developer that has spent

    a ton of money on the land and advertising and has not choice but go forward. Or you can believe

    the planted story in the Herald. Kind of like the Globe City Hall story followed by the rat story.

    On a side note, the developer of the Ocean Club was incorrectly linked to being involved

    in an identity theft scheme by the Herald. Perhaps this article was some kind of reconciliation

    agreement.

  2. Comment by John A Keith | 12/25/06 at 9:14 pm

    I

    didn’t quote the article correctly; Scott Van Voorhis wrote that 30% of 242 units are reserved,

    not 30% of 42 units.

    My error.

    I know nothing about anything else you mentioned.

  3. Comment by Fever | 12/28/06 at 10:11 am

    In regards to the other stuff I’m talking about, The Herald published

    this article not because the Ocean Club is doing great but because they owed them a favor for an

    earlier misprint. The recent new developments on Revere Beach are getting killed and I’m highly

    suspicious of any reported sales data at the Ocean Club especially if that information comes from

    the Developer. Just what does qualify as a reservation or contract? How difficult/expensive are

    reservations/contracts to break?

  4. Comment by John B. | 04/18/07 at 1:35 pm

    Fever: I have a unit under agreement at the Ocean Club. It is true that 40% of the units are

    under agreement, they’ve been selling approximately 5-10 each month since they went on sale. Why

    don’t you take a drive down to the beach sometime and check out what’s going on. Maybe you can

    stop by the sales office, they’ll show you the sales charts. The project’s been doing great and

    I can’t wait to see it complete.

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