30.8 Acres of Costa Rica Ocean view Land For Sale
This 28-lot ocean view land project was planned and began development in 2007. Access roads are in place and previous development hurdles have since been cleared. Before the market decline in 2008, ten lots were sold. The remaining property is available to be developed. This is an opportunity to purchase ocean view property in one of the most beautiful and desirable locations in Costa Rica: Lomas Coronado on the gorgeous South Pacific coast.Ocean view lots were sold at $30 per m2; valley view for $10 per m2. The remaining 30.8 acres (123,460 m2) is available for $3.19 per m2.
Development Property For Sale
What is being sold?8 Lots (100% owned) Totaling 62,240 m2 50,000 m2 of which are ocean view 123,460 m2, or 30.8 acres in total (including the lots 50% owned)
Points of Interest
- Superiorocean view lots 100% owned
- Existing access roads
- Crucial parcel for land-locked neighboring projects
- Possible additional inventory for neighboring projects
- Close to 100' local waterfall attraction
- Lots are segregated, titled and recorded in National Registry
- Pre-project planning completed
- Established terraces and building pads
- Panoramic ocean and valley views
These 8 clients, some frustrated with development hurdles and delays, might definitely consider a low-ball buyout offer. They might also come to an agreement regarding their final balance, and share in the cost of providing power and water connections to the entire project. No liability will be transferred with this sale. If no agreement can be reached with previous purchasers, an independent project is completely viable.
Buy Out Existing Partner
While there is no urgency to do this, 100% ownership of many of the premium lots was acquired through buying the partner’s shares. A possible option for the 10 shared lots is to divide them into a clean split so that each partner would wholly own a certain number of lots of equal value, instead of shared ownership.
As previously mentioned, the 8 independent purchasers of lots in the project are frustrated and might be open to a buyout. Or, if a competent developer were to deliver power and water to each sold lot, the pending balances could be negotiated and collected in full or in part. This would require individual negotiations with each single owner.No obligation or requirement will be transferred to the new purchaser to deliver water or power to any lot previously sold. This just may be a way to offset costs.
Three other developments surround this 30.8-acre parcel. This property offers ideal access to two projects behind it that are essentially landlocked, with no easy access. The other (third) neighboring project is running low on ocean view lots, so a joint venture or sale might be possible. Ideally, there would be a buyout of the other partner before this is negotiated.