Gorgeous Condo, One Tenant
I wouldn’t like it at all. Florida condo owner Victor & Kathy Vangelakos and his family invested in a high rise condominium four years ago in Fort Myers, but ended up being the only residents.
Most of the other tenants in the 200-unit condo didn’t close on their contracts, and the few that did have transferred to an adjacent building owned by the same company because more people live there.
The Vangelakos’ mortgage lender will not allow them to do the same.
That leaves them as the sole residents of the Oasis Tower One.
While it might sound like a dream place to live, the family hears noises at night and later discovers break-ins have occurred. If they leave, they remain stuck paying mortgage and maintenance on a place in an empty building,
Victor Vangelakos said they don’t want to move to the tower next door because they would still be paying the mortgage and maintenance costs on the condo they own. They paid $430,000 for the unit and took out a $336,000 mortgage — essentially spending their life savings.
I wonder if they’re waiting for the market to turnaround to get some neighbors?
