McGinnisski Posted July 4, 2014 Share Posted July 4, 2014 Hello All! I am new to this site, however not new to the skiing world. For those of you who know the McGinnis Ski School in Fort Lauderdale, http://mcski.com/about-us. I wanted to let you know that I am the listing Broker for this property. They have decided to sell and move on to the next chapter in their lives. Call me if you have interest, they would love to see this sold to someone who doesn't want to fill the lake and make apartments on the land!!! http://www.loopnet.com/lid/18780089 Andrew Edwards 954-336-4941 Link to comment Share on other sites More sharing options...
Baller ozski Posted July 4, 2014 Baller Share Posted July 4, 2014 Great site, I spent 2 seasons driving / coaching for Ann and JP at Mcginnis, never thought I would see it come up for sale. So many great people and great memories... At that price its not going to remain a ski school... Link to comment Share on other sites More sharing options...
Baller skibug Posted July 4, 2014 Baller Share Posted July 4, 2014 That sucks! I was hoping to get a couple of pulls there in November. Link to comment Share on other sites More sharing options...
Baller Razorskier1 Posted July 4, 2014 Baller Share Posted July 4, 2014 All that work for nothing @OB! Link to comment Share on other sites More sharing options...
Baller wtrskior Posted July 4, 2014 Baller Share Posted July 4, 2014 250k an acre by the freeway? I think (and hope) they're dreaming... love skiing there as I hit S. Florida often. Link to comment Share on other sites More sharing options...
McGinnisski Posted July 4, 2014 Author Share Posted July 4, 2014 Thank you for all your comments. one thing they have going for them is the limited land availability in the County, especially east of the turnpike. The reason why I posted on this site, is maybe someone has a strong passion for skiing would want to purchase the lake home. Obviously 12M for a ski camp doesn't make sense... Link to comment Share on other sites More sharing options...
Baller ForrestGump Posted July 4, 2014 Baller Share Posted July 4, 2014 All the members here couldn't pool their money together and come up with 12 million bones! Skiers are cheap! Link to comment Share on other sites More sharing options...
Baller 6balls Posted July 4, 2014 Baller Share Posted July 4, 2014 Skied there for a week twice on spring break years ago. Fill in the lake? Wow. Skiers buy land and dig lakes, not buy lakes and fill 'em. Link to comment Share on other sites More sharing options...
Baller A_B Posted July 4, 2014 Baller Share Posted July 4, 2014 I thought values were depressed in Florida? Link to comment Share on other sites More sharing options...
Baller wtrskior Posted July 4, 2014 Baller Share Posted July 4, 2014 property value is increasing in Florida, but a 600 sq/ft condo less than 2miles from hollywood beach is barely worth 50k... still down 100% from 10 years ago. There is a ton of property available in Broward county, not vacant land per se, but a lot of old dilapidated buildings that would be less expensive to tear down or renovate than to fill in 2 lakes.... Not an expert on real estate development in the area, but 12 mil seems like a serious over valuation. Still its a lot of land, and will fetch more than a skier(s) would be willing to pay so it is likely gone. I wonder if there is any way to develop the second lake closest to the highway, while maintaining the ski lake? would be easy enough to subdivide waterfront lots where the skiing takes place. Just a thought. Link to comment Share on other sites More sharing options...
Baller gregy Posted July 4, 2014 Baller Share Posted July 4, 2014 The old farmer on the highway corner up the road from me soldout his 60 acres for more than that. It's deemed to have a grocery store and shopping center. At 12 million the ski lakes will likely have a similar fate. Link to comment Share on other sites More sharing options...
Baller rayn Posted July 4, 2014 Baller Share Posted July 4, 2014 I am going for over-priced. Not too many people want to live with high tension power lines right above their heads, these cut directly through the site. My math tells me that they have to have at least 60 build-able lots just to break even at 200K/lot, most of the houses in the surrounding area are worth just barely that according to Zillow. Then again anything is possible, I am no real estate expert, in fact I have never made money in buying/selling the 2 houses I have owned. Link to comment Share on other sites More sharing options...
Administrators Horton Posted July 4, 2014 Administrators Share Posted July 4, 2014 I would think a developer could do a lot with that amount of land and water Goode ★ HO Syndicate ★ KD Skis ★ MasterCraft ★ PerfSki Radar ★ Reflex ★ S Lines ★ Stokes ★ Baller Video Coaching System Drop a dime in the can Link to comment Share on other sites More sharing options...
McGinnisski Posted July 5, 2014 Author Share Posted July 5, 2014 The possibilities are huge! The Real Estate market is not depressed at all. We have had 15-20% increase in value for the last 5 years... I simply put this discussion together to let all the people that love skiing know the lake house is for sale. The buyer for this size parcel would be a major developer. Link to comment Share on other sites More sharing options...
Baller Stevie Boy Posted July 5, 2014 Baller Share Posted July 5, 2014 Dreamin Link to comment Share on other sites More sharing options...
Baller liquid d Posted July 6, 2014 Baller Share Posted July 6, 2014 commercial most likely. Link to comment Share on other sites More sharing options...
Baller ScarletArrow Posted July 6, 2014 Baller Share Posted July 6, 2014 Opens wallet... sees a lone $5 bill... puts down deposit. Link to comment Share on other sites More sharing options...
Baller_ MISkier Posted July 6, 2014 Baller_ Share Posted July 6, 2014 When I saw the part about filling in the lake to make land, my jaw dropped. It amazes me what occurs in Florida (e.g., filling thousands of acres of swamp to build Disney World). Probably the most amazing thing to me was that anybody would ever even consider replacing a precious resource such as a private ski lake with anything else. 1. In Michigan, if you want to fill in a wetland, don't even think about it. And, if you do, be prepared for a lengthy permitting process, public hearings, legal battles, and the requirement that you subsequently create another replacement wetland elsewhere that is twice the size of the one you will fill in. In the township where I live, you can't even mow the grass within 40 feet of a wetland boundary, as this is buffer zone to avoid disturbing any special vegetation or bacteria or other wetland life. 2. I think I would be concerned about building/buying a house that was built completely on a filled in lake. Apartments may be less of an issue, but I don't think I'd put my good money down to buy on semi-solid ground. 3. I am currently embroiled in a battle just to drain some storm water from my non-wetland property by pumping it from a low spot into legal culverts elsewhere on the property. You would not believe the government officials (township, county & state), attorneys, hydrogeologists, and other consultants involved in working out a solution for moving some seasonal runoff and surface drainage for about 3 months of the year. Even the option of reshaping the land with fill to drain naturally to a nearby wetland would require permits and public hearings. That's right - you can't even add water to the wetland or alter natural flow without permission. We are talking about an affected portion of property that is about 1/4 acre in size. I couldn't imagine trying to drain and fill a 20-30 acre lake with dirt. By the way, my drainage problem was caused by a developer severing the output from an old farm drain on my property during the construction of a subdivision. That output could not be restored or re-routed. The only replacement for that is a pump - all gravity flow options to route another drain anywhere also require significant permitting and easements. The worst slalom equipment I own is between my ears. Link to comment Share on other sites More sharing options...
McGinnisski Posted July 6, 2014 Author Share Posted July 6, 2014 Here in Broward County and South Florida in general, we have no more land to build on. The everglades are protected, so you cant build west. There is a developer who did a similar project about two years ago and it was a huge success..... Link to comment Share on other sites More sharing options...
Baller ozski Posted July 6, 2014 Baller Share Posted July 6, 2014 Reason for sale? And just curious what sort of commission happens on a 12m sale in the US? Link to comment Share on other sites More sharing options...
Baller bowty Posted July 6, 2014 Baller Share Posted July 6, 2014 Look at Dubai, they just build islands in the ocean! If it's more land the developers want, send them offshore! Leave the lake alone! Link to comment Share on other sites More sharing options...
crashman Posted July 7, 2014 Share Posted July 7, 2014 Local ski lake here just sold for 141k. Link to comment Share on other sites More sharing options...
Baller Bulldog Posted July 7, 2014 Baller Share Posted July 7, 2014 That price seems very high. "Do Better..." Link to comment Share on other sites More sharing options...
Baller LeonL Posted July 7, 2014 Baller Share Posted July 7, 2014 @Bulldog, do you mean the 141k site or the 12m site. Link to comment Share on other sites More sharing options...
Baller Stevie Boy Posted July 7, 2014 Baller Share Posted July 7, 2014 Quite often people listen to real estate agents and get carried away, with valuation, basically it's called greed, a site that is blighted by freeway, powerlines, and requires landfill, as well not being in a prime area, cannot be that attractive, as for continuing as a ski school, lottery winners only need to apply. Link to comment Share on other sites More sharing options...
Baller ScarletArrow Posted July 7, 2014 Baller Share Posted July 7, 2014 I would like to know a comparison of the lake, property, amenities and business revenue between Swiss (which I believe sold for 1.9M) and McGinnis. At $12M, it's going to take a serious amount of customers to pay that loan off if someone is looking at this as a viable business. In central and southern florida, if one has the desire to build and/or run their own ski school, getting the infrastructure (permits, wind protected lake, boat, docks, housing, coaching) is not the problem - so the only thing being sold here is the location, the McGinnis brand name and the existing revenue stream of customers. If someone just wants this as their own personal playground, then none of that matters. But if you have the kind of coin, why not just build your own little paradise in the next county over? Link to comment Share on other sites More sharing options...
Baller Bulldog Posted July 7, 2014 Baller Share Posted July 7, 2014 @LeonL the 12m site.... I should have posted clearer. "Do Better..." Link to comment Share on other sites More sharing options...
bogboy Posted July 7, 2014 Share Posted July 7, 2014 It would be sad to see a great waterski lake go away, but at that price, (or what the market will eventually bare), the buyer will likely want to develop, for long term profit, and income stream. If the encumbrances can be solved, such as partial land reclamation, and other development check lists, the eventual income stream could justify a property value of 5 times the purchase years down the road. What seems expensive now could turn out to be a wise purchase years from now, just like what seamed expensive years ago is a wise investment now. Richard d. And I spoke about this subject very briefly a couple years ago. There would have to be the political due diligence prior to a deal. Long term property leases with tenants (hotels, office buildings, restaurants) could be an option. The ironic thing is, back in the good old days, when development was much easier, less expensive and restrictive, this made economies thrive and prosper, as opposed to over regulation and over reaching now. Now a days though, the big chains would likely buy directly, and have more political pull. Link to comment Share on other sites More sharing options...
Baller wtrskior Posted July 7, 2014 Baller Share Posted July 7, 2014 Would it be possible to sell the land as 2 parcels? 1 as a ski lake housing development and the other (2nd lake) as commercial? the swiss comparison is somewhat valid, but its not in as good a location from a pure real estate perspective. The cost to convert the land to commercial would be extensive as well. 12m is a total pipe dream, but the property is worth millions for sure. Link to comment Share on other sites More sharing options...
Ghibli Posted July 9, 2014 Share Posted July 9, 2014 http://www.bcpa.net/RecInfo.asp?URL_Folio=504113180010 Link to comment Share on other sites More sharing options...
Baller usaski1 Posted July 30, 2014 Baller Share Posted July 30, 2014 whenever I think of "broward county" I think of "hanging chads" and "dimpled chads"... ...whoops.. wasn't supposed to get political! Link to comment Share on other sites More sharing options...
Baller BraceMaker Posted July 30, 2014 Baller Share Posted July 30, 2014 It will probably sell for that eventually. At their listed 185/hr rate you'd take 8000 some full days of pulls with no overhead to make that rate. So short of someone who needs a ski school, or wants a private lake, or possibly both at once... Link to comment Share on other sites More sharing options...
Baller rayn Posted July 30, 2014 Baller Share Posted July 30, 2014 Down to the bargain price of 9m. At this rate I will be able to afford it with 3 more reductions like that. Link to comment Share on other sites More sharing options...
Baller Stevie Boy Posted July 30, 2014 Baller Share Posted July 30, 2014 12m to 9m makes me chuckle, who would ever want to deal with anybody, who plucks figures out of the air and then after such a short while reduces by 3m, could never take them seriously, they would try to squeeze the price up, by trying charge for extras, I reckon 3m is nearer the mark, maybe 3.5m Link to comment Share on other sites More sharing options...
Baller A_B Posted July 30, 2014 Baller Share Posted July 30, 2014 I have a 35 acre site in NW Ohio, with 2000' lake, 18 foot deep, dyed water, and rent 5 acres of farmland out to a farmer. There is easily 10 acres or more that can be developed into housing. I would let it go for $5MM. Send email to me. Link to comment Share on other sites More sharing options...
Baller LeonL Posted July 30, 2014 Baller Share Posted July 30, 2014 @AB, since you're in the pricing game, I'll jump in too. I have 36 acres, 16 acre lake, 2050' long, jump, boat house with lift, 1700 sq ft modular home, two pole barns, one 40x48, one 56x48. Located in central KY. 1M and I'm out of here. Link to comment Share on other sites More sharing options...
Baller_ Wish Posted July 30, 2014 Baller_ Share Posted July 30, 2014 @LeonL at 1M that sounds like a loss. Link to comment Share on other sites More sharing options...
Baller SkiJay Posted July 30, 2014 Baller Share Posted July 30, 2014 Swiss Ski School is a much prettier site and about the same size without the freeway and high tension lines, and it took forever to sell for a tiny fraction of this to the same water ski community. Recent history suggests there's no hope of a water ski based rescue here. The future of this site will include a commercial developer and backfill. Link to comment Share on other sites More sharing options...
Baller LeonL Posted July 30, 2014 Baller Share Posted July 30, 2014 @Wish, I've never shopped it around and had given no thought to selling at this time. Eventually I'll be too old to ski and to maintain the site. I have a partner who no longer skis and I had been thinking of a "buy or sell" offer to him so that I can get out when necessary. I hadn't thought of that much money between he and I obviously. I haven't even mentioned a sale to my partner, but at 1M I'm sure he would be on board also. So, I'm open to offers on that range. Link to comment Share on other sites More sharing options...
Baller skibug Posted September 28, 2014 Baller Share Posted September 28, 2014 Anyone know if they are still operating as a ski school? Link to comment Share on other sites More sharing options...
Baller ozski Posted September 28, 2014 Baller Share Posted September 28, 2014 Yes they are. More for tows rather than high end coaching, short run in at one end. I've run a lot of passes on that lake so I hope it remains as a ski lake. Link to comment Share on other sites More sharing options...
Baller skibug Posted September 28, 2014 Baller Share Posted September 28, 2014 @ozski, thanks. heading down that way in early November. I have skied there before and enjoy the site and people. Link to comment Share on other sites More sharing options...
Baller Razorskier1 Posted September 28, 2014 Baller Share Posted September 28, 2014 @LeonL sounds like a great price. Wish I had location flexibility! Link to comment Share on other sites More sharing options...
Baller LeonL Posted September 28, 2014 Baller Share Posted September 28, 2014 @Razorskier1, I'm getting old and the upkeep is sorta not as much fun as it used to be. We have less than half the members we used to have, I'm reluctant to raise annual dues, and it's tough to stay in the black. I wish I could sell to a dedicated skier. As I stated earlier, I haven't put it on the market, or even word of mouth mentioned selling, but I would. Link to comment Share on other sites More sharing options...
Baller Edbrazil Posted September 28, 2014 Baller Share Posted September 28, 2014 vs. the run-in at the near end: since Ed Finley supervised a site reset a year or so ago, it should be a lot better than what it was. Course location was moved some to the South. Was a little over 100 meters course-to-shore; now is more like 130m. Overall, the main lake is about 1800 feet in length. Link to comment Share on other sites More sharing options...
Baller Brady Posted September 29, 2014 Baller Share Posted September 29, 2014 I would rather have those guys from india telling us about the benefits of pontoon boats than trying to sell overpriced land to a bunch of skiers. @AB if you drop your price to 4million, I will buy! Just waiting for my damn lottery ticket to come in, and I will move back to Ohio....kind of miss tony pacos anyway. Link to comment Share on other sites More sharing options...
annski747 Posted October 23, 2014 Share Posted October 23, 2014 McGinnis Ski School is open and available for ski sets, so come on out and ski some warm flat water. I can be contacted at 954-214-2792 or waterskico@gmail.com for reservations. Thanks for all the great comments. Ann McGinnis. Link to comment Share on other sites More sharing options...
Baller A_B Posted October 24, 2014 Baller Share Posted October 24, 2014 @Brady , $3M for you bro! I'll have the dogs and chilli waiting for you. Link to comment Share on other sites More sharing options...
Members Greg Banish Posted October 28, 2014 Members Share Posted October 28, 2014 My wife and I just got back from a long weekend down in Ft. Lauderdale. We skied several days with Ann at their site. Day one was probably the most impressive since there were 27mph winds, yet the course was completely skiable due to the location. Ann was a great host and helped me work on the fundamentals as I polish my 22off form. Video from day three with more sun and less wind, still working on getting those hips up to the handle before I load the line as I come around the ball. Thanks again, Ann! Link to comment Share on other sites More sharing options...
Ghibli Posted February 2, 2015 Share Posted February 2, 2015 Down to five. http://www.loopnet.com/Listing/18780089/2421-SW-46TH-AVE-Fort-Lauderdale-FL/ Link to comment Share on other sites More sharing options...
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