Not everyone is cutting back as the economy tumbles. Or, at least, that’s the hope at Residential Cruise Line — the latest entrant into the rarefied world of super-luxe floating condominiums.
The Phoenix-based company finally opened sales this week for what’s billed as the most luxurious residential cruise ship ever — a 76,000-ton vessel that will have 210 units priced from $2.8 million to $18 million.
The line also will hold an inaugural, invitation-only sales event on Dec. 15 at Dubai’s Burj Al Arab hotel.
I will be watching them with interest. I hope they do well, although given the poor luck Residensea had in selling luxury units into a recession, I am a bit pessimistic. The ship will cost $1.2B, and is scheduled to sail in 2011. For the latest news, see the Magellan Website
If you’re interested in condominium cruise ships like Magellan, Utopia, and ResidenSea, check out all our posts tagged cruise condo. For more general information on how to live on the ocean, read A Brief Introduction to The Seasteading Institute.
http://www.residentialcruiseline.com/faq/
What does this mean they are opening sales. They have been on sale for almost 2 years?
A friend of mine bought shares on Magellan when it started about 3 years ago. She said they told her when she bought that the ship was supposed to be finished in 2009. They haven’t even started building and it will take almost 3 years to complete (if they ever do start building). There was a clause in the contract that she could get her money back if the ship construction wasn’t started within 2 years. She’s tried to get her money back but no one answers the phone at the Residential Cruise Line headquarters in Arizona. She drove to the office and the doors were locked and “for rent” signs posted. There are a bunch of lawsuits against the developer, Randall Jackson, in the works from american owners and creditors. Apparently it got too hot to continue operating in the usa and the developer has relocated to Dubai. I wouldn’t risk a dime with this guys track record.
I used to work at Residential Cruise Line and let me just say that he got what was coming to him. What comes around goes around!!