May be business as usual, hope the workers will be ok.my understanding is he sold/lost the land in Beacon Hill as well that he tried to pull a fast one and build condos on. Probably the only restaurant I won’t step foot in in SXM.
The fact that there is a reserved price means the Owner is willing to sell, but only if you pay the $6,500,000 pricetag. Don't be surprised if it does not sell.
I should add, the Owner can sell for less but is not obligated to if they don't get the $6,500,000 or more asking bid price.
My cowboy math: At $6.5 million, with a 6.5% interest rate which on this type of property is probably reasonable to a person that has the money to begin. Only a 25 year remaining right to lease. You would have to allow for about $43k per month plus insurance and any taxes (not sure how commercial property works on SXM). Good luck making those payments, I don't see how that investment would make any sense for anybody. That nut isn't going to able to be paid in high season, let alone low season.
I think about one third that is getting closer to having a chance, not even sure at that.
Went once years ago at what was Banana's with in a year or so of the change, knew leaving we would not be back, never went back.
Is Topper's rum still running?
I pimp DK Gems, The Palms, Lal's, La Chingona, Dany's at Cupecoy and Friars Bay Beach Club !
The link I posted is from 2021 - as I stated the start of the downfall. The notary link has all the information, and if you keep Clicking it’s all there. And I posted a picture from the paper that was posted by an Islander on Facebook. Online version doesn’t always post the entire paper unfortunately.
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