Looks lie the trend may be up for a bit. The 10/20 day MA crossing over the 50, and all turning up towards the 200. Since the 200 seems to be close to the bottom of the big gap, that does make a $2 SP a likely short term target.
The video that Computerfixer provided the link to, also lists it for $399,000. I assume this is for just one unit though, and it looks like there are two.
The $385k is what they accrued for expenses, which will move to the Income Statement as Cost when they sell. I'm thinking they will sell for about $500k (revenue), thus they should make around $90-100k when all said and done.
If " The Savoy" is another project on the scale of Pineapple House, GV's real estate segment may be on the brink of providing some meaningful revenue to the overall picture.
So, If that is just what they have in the "West Indies" townhomes, and they're going for $399,000 ea., then they should clear maybe $200-250,000 on that location? After realtor's fees, taxes, etc.,.
If you look at the Q1 Balance Sheet, you'll see under Current Asset, 'Residential Properties Under construction', with an amount of $385,790. This most likely reflects what they've invested in the properties at the end of March.
go to Youtube and type this in. U can take a video tour of homes at this address.
"101-107 7th Avenue, Indialantic, 32903"
I was checking out the Bay Swatter development website yesterday, out of boredom, and I noticed that they have two new townhouse / condo projects in the pipeline. the "Abacos", townhomes and condos, and "The Savoy", condos only. Both in Indialantic city.
There does not seem to be much undeveloped land there.. I went to Yahoo maps and zeroed in with satellite view. For their project currently under construction, "West Indies", @ 101 7th avenue, they demolished a couple of small buildings. They will most likely have to do the same for these other two jobs.
I was just trying to get an idea of the size of the projects, in order to guesstimate the potential revenue for GV.. The Abacos , with townhomes and condos, must be larger than the two West Indies townhomes, yes?
And The Savoy, well, that's a grand sounding name, isn't it? Maybe something as big as Pineapple House?
At $4-500,00 ea. for ocean front townhomes, maybe $20-30,000,000?
Looks like the old man went straight back to the office after the meeting, sat down at his computer, and bought 40,000 more shares. I like this guy.