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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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Lisa Katayama
(Tokyo Mango)
Lisa Katayama, the lady geek who defies the general belief that female bloggers are not treated as nicely as their male counterparts even on the...
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This concept is very new (the World is the only condo ship now sailing and the Magellan is scheduled to be the second) and exciting to anyone who would like to cruise the world while not giving up the comforts of home. www.magellancruisecondos.com has a lot more information on the Magellan cruise condos.
I looked at The World, The Orphalese, The Four Seasons, and The Magellan. The Magellan seems to have the best features for me. I found information about the ship at www.magellancruisecondos.com.
Also looks like there are a few web sites promoting the Magellan. The one you mentioned, www.magellancruisecondos.com, deals only with the Magellan and not a bunch of other stuff. Looks really nice, but I don’t think I can afford it!
Yeah, they are expensive but I bought a one month ownership (called a fractional) for about 160k. I couldn’t afford the full ownerships (they have penthouses for up to 8 million!).
So Gary, you bought one. Have you heard anything about the investment potential? What about renting the condos?
Hey Matt,
I think that the units are going up each month. Last month they went up about 2%. And there is a rental plan. The World ship has a rental plan and The Magellan plan is sort of similar. Sounds like it could be a great deal. The World is renting out for $1200 a day for a smaller unit than the smallest ones on The Magellan.
Rental plan? From what I understand, all the units will be privately owned. Do you mean the Magellan will help the owners lease the units?
I even heard that there will be a web site where owners of fractionals can swap. I also heard the smallest unit on the World is under 500 sf, but I’m not sure that would be the unit renting for $1200 a day.
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
Matt,
You’re kidding me right? YOU are the sales agent listed on the www.magellancruisecondos.com website .... so isn’t just a bit disingenuous to be posting here as if you are an interested investor???
Makes me wonder who all of the rest of the people ”conversing” with you on this page really are!
I personally AM very interested in the concept, but I can’t get these simple questions answered:
1) How many CASH deposits have actually been tendered
2) When will a contract to actually build the ship be signed
3) Who will be the shipbuilder
To: Gregory Leo, Sr.
www.magellancruisecondos.com is not the authorized site for Residential Cruise Line. Residential Cruise Line is pre-selling The Magellan and if you have any direct questions about how to purchase a residence, please feel free to contact me directly at (480) 497-8833 ext 786 or visit our website at www.residentialcruiseline.com
Thank you.
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.