Marina City Club Update
The infamous circular towers in the marina are now only accepting cash offers as of 11/01/2021. Financing is no longer available due to Fannie and Freddie giving it an unavailable status.
The Florida condo collapse caused a ripple effect across the country and it affected Fannie Mae and Freddie Mac. Marina City Club is now classified as “unavailable”, which means Fannie and Freddie will not purchase any loans for the project, as financing is ineligible.
MCC may become eligible for financing in the future but for now, cash is your only way into a purchase at MCC. More info to follow and I have some questions myself that I’m looking into and will report back.
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