Solstice, an upscale destination (shared-home) club, had bought 2 units in the Glass Townhouses on Charles St. I went to a cocktail reception there for potential members. I never joined as destination clubs seemed like Ponzi scams to me, they needed new members coming in to pay the bills. It was $600k-$1.6m upfront for their different plans. Saw this on Curbed today: "FAR WEST VILLAGE—A Curbed... [more]
Solstice, an upscale destination (shared-home) club, had bought 2 units in the Glass Townhouses on Charles St. I went to a cocktail reception there for potential members. I never joined as destination clubs seemed like Ponzi scams to me, they needed new members coming in to pay the bills. It was $600k-$1.6m upfront for their different plans.
Saw this on Curbed today:
"FAR WEST VILLAGE—A Curbed tipster with a fondness for sorting through legal paperwork writes in regarding today's item on the Glass Townhouses at 163 Charles Street: "A lien for nonpayment of common charges was filed earlier this month by the condo against the owner of the 3rd/4th floor duplex (one of the units owned by that Solstice firm). Anyway, the lien is for $1775. Seems that the common charge was due a month prior to the lien being filed...they apparently don't give you much breathing room in the West Village. "
A little googling found the reason for the lien, Solstice filed for bankruptcy:
http://www.sherpareport.com/destination-clubs/solstice-chapter-11.html
So anybody looking for a bargain, some nice distressed real estate coming on the market soon on Charles St.
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