Are they still open?
Joe
Joe
Anything new with the sale of Blue Grotto?
- Thread starter cudachaser
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Last I heard is they are open for business as usual. All bids were turned down. They're either going to have to lower their expectations or make some major improvements.
gecko3s
Guest
I heard they recently raised the price to 40$ though...
We were also discussing this recently and it was kind of brought up that what Ed wants for the property (4 mil right now), the income from divers won't be enough to even cover the debt service on that. Figure about 200 divers a week, at 30 is only 312000, this new rate of 40 would bring that up to 416000, which would cover the debt service (if I understand it correctly) but I think they're going to lose some divers if it is 40.
We were also discussing this recently and it was kind of brought up that what Ed wants for the property (4 mil right now), the income from divers won't be enough to even cover the debt service on that. Figure about 200 divers a week, at 30 is only 312000, this new rate of 40 would bring that up to 416000, which would cover the debt service (if I understand it correctly) but I think they're going to lose some divers if it is 40.
peaceful
Registered
how did you hear that he wants 4 mil for the property?
gecko3s
Guest
One person who told me- his business is to facilitate the sale of dive businesses. I don't think Ed is hiding the fact that that's what he wants.. I could be wrong, but I've been told by a few people that..Apparently someone told Ed he could probably get 5-15mil, which is why he is looking at getting 4. It's just what I've been told, not fact.
slingshot
Contributor
Is that $40 for the entry fee alone?
That's the way I understand it.
I haven't been back because I thought $30 was to much for the place. What can the overhead be on running the place. He lost his battle with the county on selling the water and I'll bet the legal fees were exspensive.
AlexRodriguez
Contributor
Well if I win the Lotto I will buy it from him and drop the fee to $20. 
Alex
Alex
H2Andy
Contributor
yeah, Grotto still open
it went for auction, and it only reached $1.5 mil bids. Ed decided not to sell.
post-auction, negotiations got to close to or just over $2.0 mil. Ed decided
not to sell.
his original asking price had been $3.0 mil, but nobody took him up on it.
http://www.mydivinglife.com/H2Andy/858/
it went for auction, and it only reached $1.5 mil bids. Ed decided not to sell.
post-auction, negotiations got to close to or just over $2.0 mil. Ed decided
not to sell.
his original asking price had been $3.0 mil, but nobody took him up on it.
http://www.mydivinglife.com/H2Andy/858/
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