[Fredslist] Advice re Boca West apartment

[Stuart Oltchick]

To Gothamites:
 
In 1985, for about $115,000, my wife and I bought a Boca West townhouse
apartment for my in-laws .  It was the model apartment and we loved it.  It
is an 1150 ft, one bedroom, 1 1/2 bath, has a cathedral ceiling in living
room, and a wraparound terrace overlooking a pond.  My aging in-laws stopped
using the apartment in 1998, so we spent about $30,000 refurnishing it for
our own use but never used it more than 5 or 7 days per year, even though we
are members of Boca West Country Club (rated of the 10 private best clubs in
the U.S. with 4 fabulous golf courses, all of which have been redone
recently).  It's really a fabulous set-up but, since we are skiers, we don't
spend much time in Florida. 
 
Here's my predicament:
 
Last year, I listed the apartment at $129,900 without success, because a
purchaser of the apartment must also join the club with an initiation of
$66,885 and annual dues of at least $7,000.  We pulled the listing and then
relisted a couple of months ago at $119,900.  Our broker is seeing no
lookers.
 
How do I reach someone who would appreciate the fabulous golf, tennis, spa,
dining, etc. of Boca West and wants a beautiful one bedroom townhouse
apartment?  At this point, I would also consider a lease if the lessor
joined the club ($8,000 dues for a lessor, no initiation fee).
 
Any ideas would be most appreciated.
 
Thanks.
 
Stuart 
 
Stuart Portfolio Consultants, LP 
1449 Lexington Avenue, 3B
New York, NY  10128
Tel:  212-360-7500
Fax:  212-360-7503
Email:  soltchick at msn.com
 
This is not an offer (or solicitation of an offer) to sell the
securities/instruments mentioned.  We do not represent this is accurate or
complete and we may not update this.  Past performance is not indicative of
future returns.  For additional information, and important disclosures,
contact me.  This communication is solely for the addressee(s) and may
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