The latest trend with the filthy rich of the society is getting a residence on water. Remember I told you about one such four season luxury ocean residences back in May. Now home builder Randall Jackson who has been part of metro Phoenix’s real estate industry for about 20 years is venturing into water with his newest venture Magellan, a $650 million private residential cruise ship. The luxury ship will be 800 feet long, 106 feet wide and will feature 15 decks, 200 luxury condos, six restaurants, an observatory with an astronomer, a heliport with two helicopters, an onboard marina, a spa, a casino and a 450-seat performance theater. The condos are estimated to be priced from $1.8 million to $8 million.
Magellan - $650 Million Private Residential Cruise Ship
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Hi Matt,
The units are all privately owned and the rental plan I was referring to is a plan that the Magellan company started to help condo owners rent their units out. I’m not sure the details about the World condo rentals. But $1200 a day more than covers the annual costs associated with one of these condos and in a few years actually pays the unit off!
This is a very cool idea, cruise ship ownership. I love it! And the Magellan looks awesome! I found pictures of it here, if you’re interested. http://www.condohotelcenter.com/condo-hotels/featured-properties/magellan.htm
Gregory G. Leo, Sr.,
Those are very good questions. I’d like to know the answers also but I’m not going to trust the Matt person and never got satisfactory answers from the company that Zachary talks about either.
A suite on a cruiseship does sound like an excellent idea. There’s a ship called the Murano that is going to launch soon - www.luxurycondocruiseline.com
My advice, Do your research about the owner. The negative stories are true and there are a ton of them out there. This project will never get done and those who invest will lose money. It’s unfortunate becuase for a legit company like the four seasons it’s a great venture but for a man known in the valley as a swindler who has taken on other big projects never to finished them and losing investors money. Save your money and your time.
I don’t agree with you. This project is under way and the ship will launch summer of 2010. I have purchased a residence on Magellan and it is clear in my contract that if they are delayed or fail to deliver, I am entitled to a full refund. I’ll send you a postcard from one of the 150 countries I will be visiting.