07-25-19 - BOARD BOOK

FRENCHMAN’S CREEK, INC. Board of Governors’ Meeting Thursday, July 25, 2019, at 10:00 a.m. AGENDA

NO.

ITEMS FOR DISCUSSION

PRESENTER

ACTION PAGE

I.

Communications from Residents

II.

Call the Meeting to Order

Mr. Slepkow

III.

Moment of Silence for Deceased Member: Peter Leibowitz (07-05-19), Stephen Colman (07-05-19)

IV.

Secretary Establishes a Quorum

Mr. Glazer

V.

Set the Agenda

MOTION

VI.

Approval of Meeting Minutes: A. June 19, 2019 (Regular Board Meeting ATTACHMENT

3 - 8

MOTION

VII.

Financial Report: A. June 2019 Financials ATTACHMENT

9 - 32

Mr. Nelson

B. Resolution to Add the CFO and Controller as Authorized Signers on the Bank Accounts for Everbank and Iberia Bank

Mr. Nelson

MOTION

VIII.

Committee/Project Reports: A. Security Update

Mr. Spitalny

B. Clubhouse Construction Project:

Mr. Stanfield

33 - 81

MOTIONS

 Approval of the Decorator Contract with Pembrooke & Ives  Approval of the Architect Contract

with Glidden/Spina ATTACHMENTS

IX.

Executive Director Report: A. Operations Update ATTACHMENT B. Private Parties ATTACHMENT C. New Memberships ATTACHMENT

82 - 84 85 86 - 88

Mr. Goswami

MOTION

X.

Old Business: A. None New Business: A. None

XI.

XII.

Good Will

XIII.

Adjournment

Mr. Slepkow

MOTION Revised & Posted: July 12, 2019

1/88

FRENCHMAN’S CREEK, INC. BOARD OF GOVERNORS’ MEETING MINUTES WEDNESDAY, JUNE 19, 2019, AT 11:00 A.M.

Present:

Norman Barham (via conference call) , Steven Bernstein , Martin Cohen, Jeffrey Glazer, Richard Golber, Brett Handler, Jonathan Nelson, Krista Nicklaus, David Rosenblatt, Robert Scherer, Herbert Selzer, Martin Slepkow, Jeffrey Stanfield, Frank Spitalny.

Absent:

Liam Egan

Guests:

Sheila Babich, Merelann Cherry, Larry Cohen, Ted Davis, Penny Fierstein, Chris Handler, Anthony & Patricia Lampert, Arnold & Jane Lampert, Cary Luskin, Marshall Manley, Ed Rand, Fred Stern, Evelyn Taback, Jenifer Weintraub.

Allied Security: Robb Chambers, Herbert Morency, Dan Shannon Gator Security: Al Lewis

Staff:

Michael Chesnovitz, Linda George, Jonathan Goodman, Achal Goswami, Mark Hall, Bernie Polselli

CALL THE MEETING TO ORDER: President Marty Slepkow called the Board meeting to order at 11:12 a.m.

MOMENT OF SILENCE: There was a moment of silence for Robert Lippman.

SECRETARY ESTABLISH A QUORUM: Secretary Jeffrey Glazer advised that a quorum was present.

SET THE AGENDA : Mr. Bernstein made a motion “ to set the agenda as submitted.” Mr. Glazer seconded the motion and the motion carried unanimously.

SECURITY REPORT: Mr. Mark Hall, Director of Security, introduced the Allied and Gator Security representatives in attendance. He then provided an overview of the security breach which occurred on May 18, 2019. His presentation included the sequence of events, perimeter camera analytics issues, action steps implemented (immediate & future), and efforts to educate the residents on community security. There was a Q&A period that followed. MEETING MINUTES: Mr. Glazer made a motion “to approve the May 2, 2019, Special Board Meeting Minutes, as submitted.” Mr. Bernstein seconded the motion and the motion carried unanimously. Mr. Bernstein made a motion “to approve the May 15, 2019, 9:00 a.m., Special Board Meeting Minutes, as submitted.” Mr. Nelson seconded the motion and the motion carried unanimously.

2/88

Mr. Stanfield made a motion “to approve the May 15, 2019, 12:30 p.m., Special Board Meeting Minutes, as submitted.” Mr. Golber seconded the motion and the motion carried unanimously. Mr. Golber made a motion “to approve the May 16, 2019, Regular Board Meeting Minutes, as submitted.” Mr. Nelson seconded the motion and the motion carried unanimously. FINANCIAL MATTERS : Mr. Nelson, Treasurer and Chair of the Finance Committee, reported that the Community has a positive variance compared to budget of $37k; the Club income being favorable to budget by $3k, with the POA favorable to budget by $34k. Food & Beverage operations for both the Main Club and Beach Club and all POA departments finished the month favorable to budget. There was a brief discussion regarding the golf shop budget, in particular, liquidating and discounting older inventory. Mr. Nelson then reported on real estate sales; stating that the new fiscal year is off to a strong start with eight (8) new member closings and an additional seven (7) pending sales. RESOLUTION APPROVING BANK LOANS WITH WELLS FARGO: Mr. Nelson presented a Loan Summary and Resolutions to enter into a loan agreement with Wells Fargo. He pointed out that the Bank of America loan will be paid off as indicated in the Resolutions. After discussion, Mr. Nelson made a motion “to adopt the below Resolutions to enter into a Loan Agreement with Wells Fargo on the Clubhouse Construction project, subject to comments.” The undersigned Board of Governors (the “Governors”) of FRENCHMAN’S CREEK, INC., a Florida not for profit corporation (the “Corporation”) having held a duly noticed Board of Governors meeting on the 19th day of June, 2019, in the manner required by its Bylaws, have approved the following resolutions and have executed this action (this “Action”). This Action, shall evidence the adoption of the resolutions set forth herein. RECITALS WHEREAS, on April 17, 2019, at a duly noticed Members’ Meeting the Members voted by a vote of 318 approving and 229 disapproving to accept the proposed renovation and remodel of the clubhouse facilities and to permit the Corporation to obtain financing of up to $35 Million. (A copy of the notice, agenda, and minutes are attached as composite Exhibit “A” to this Action.); and WHEREAS, based on the authority provided by the Members in accordance with the provisions of the Corporation’s governing documents, the Corporation has requested and Wells Fargo Bank, N.A. (the“Lender”) has agreed to extend three loans (the “WF Loans”) in the aggregate principal amount of up to Thirty One Million Three Hundred Thirty Eight Thousand Three Hundred Eighty and 00/100 Dollars ($31,319,334) as follows: (i) A Construction Loan in the Amount of up to Twenty Seven Million Five Hundred Thousand Dollars ($27,500,000) for the renovation and remodel of the clubhouse facilities (“Construction Loan”); RESOLUTIONS OF THE BOARD OF GOVERNORS FRENCHMAN’S CREEK, INC.

(ii) a Revolving Line of Credit in the Amount of up to Two Million Five Hundred Thousand Dollars ($2,500,000) (“Line of Credit”); and

3/88

(iii) a Term Loan in the amount of up to One Million Three Hundred Nineteen Thousand Three Hundred thirty four and 00/100 Dollars ($1,319,334) (“Term Loan”); and WHEREAS, Corporation currently has an outstanding Loan in the amount of One Million Three Hundred Nineteen Thousand Three Hundred and Thirty Four Dollars and 00/100 ($1,319,334) (“BOA Loan”) with Bank of America, N.A., (“BOA”) which will be paid off in full and a Revolving Line of Credit with a zero outstanding balance that will be terminated upon execution of the Loan Documents (as defined below); and WHEREAS, the Governors have authorized Martin P. Slepkow, President, Jonathan P. Nelson, Treasurer and Jeffrey Stanfield, 2 nd Vice President (or such other officers as the Board may substitute from time to time by separate resolution) (“Authorized Officers”) to review, consider, execute and deliver the various transaction documents with respect to the WF Loans; and WHEREAS, the Corporation desires to hedge or otherwise manage its interest rate or exchange rate exposure as to the WF Loans by entering into an ISDA 2002 Master Agreement and schedules and related confirmation and/or any other documents, instruments, or agreements with Lender (“WF Swap Transaction”) as the same may be hereafter amended, restated, renewed, replaced, supplemented or otherwise modified from time to time (singularly and collectively, the “WF Swap Documents”); and WHEREAS, the Corporation currently has an ISDA Master Agreement, together with schedules and related documentation with BOA to hedge or otherwise manage its interest rate or exchange rate exposure in relation to its BOA Loan (“BOA Swap Transaction”) which BOA Swap Transaction is anticipated be assigned to Lender at the time of the pay-off of the BOA Loan; and WHEREAS, on May 2, 2019, at a duly noticed Board of Governors Meeting, the Board of Directors voted to approve the WF Swap Transaction and authorized Martin Slepkow, President, Jeffrey Stanfield, 2 nd Vice President and Jonathan P. Nelson, Treasurer, acting singly or together to enter into, execute, deliver, purchase, confirm, amend, modify, sell, assign, transfer or otherwise acquire or dispose of Swap Transactions with Lender or any of its affiliates. (A copy of the notice, agenda, and minutes of the Board of Governors Meeting is attached as composite Exhibit “C” to this Action); and WHEREAS, the Governors believe it to be in the best interests of the Corporation (i) to consummate the WF Loans and the WF Swap Transaction and all of the agreements contemplated in connection therewith by authorizing the Authorized Officers to enter into, deliver and perform its obligations under the Loan Documents (as defined herein below), the Swap Documents, and any and all agreements, documents, instruments, certificates, acknowledgments and/or agreements (the “Transaction”) as may be required to consummate the Transaction (singularly and collectively, the “Transaction Documents”). NOW, THEREFORE, BE IT RESOLVED, that each of the named officers of the Corporation identified below in the incumbency certificate (each an “Authorized Officer”), acting singly or together, be and hereby is, authorized in the name and on behalf of the Corporation to enter into, execute, deliver, purchase, confirm, amend, modify, sell, assign, transfer or otherwise acquire or dispose of Transaction Documents with Lender or any of its affiliates (the “Bank”) RESOLVED, that the Corporation shall be authorized to and is directed to borrow the aggregate principal amount of up to Thirty One Million Three Hundred Thirty Eight Thousand Three Hundred Eighty Dollars and 00/100 Dollars

4/88

($31,319,334.00) to pay off the BOA Loan and to renovate the Frenchman’s Creek Clubhouse and execute any and all Transaction Documents and in connection therewith: The WF Loans shall be evidenced by (i) a Revolving Line of Credit Note in the original principal amount of up to Two Million Five Hundred Thousand and 00/100 Dollars ($2,500,000.00);(ii) a Reducing Revolving Promissory Note in the original principal amount of up to Twenty Seven Million Five Hundred Thousand and 00/100 Dollars ($27,500,000.00); and (iii) a Term Note in the original principal amount of up to One Million Three Hundred Nineteen Thousand Three Hundred Thirty Four and 00/100 Dollars ($1,319,334), all secured by (a) a Construction Loan Agreement; (b) an Agreement Not to Encumber or Transfer;- (c) a Security Agreement; (c) an Assignment of Architect’s Contract, Plans and Specifications; (e) an Assignment of Engineer’s Contract, Plans and Specifications; (f) an Assignment of Construction Contract;-(g) a Collateral Assignment of Assessments and Home Turnover Net Proceeds; (h) a State of Florida Uniform Commercial Code Financing Statement Form (UCC-1); (i) an Insurance Anti-Coercion Statement; (j) a No Representation Certificate, Cooperation Agreement; and (k) a Borrower’s Affidavit (the foregoing collectively “Loan Documents”). Such UCC-1 Financing Statement to be evidence that Lender has a valid first lien against all business assets, assessments and the first seven home sales or resales in the amount of $805,000 annually as more particularly described in (a) the Security Agreement, (b) the Collateral Assignment of Assessments, and (c) the Home Turnover Net Proceeds. Capitalized terms used herein shall have the meaning ascribed to such terms in that certain Security Agreement, Collateral Assignment of Assessments, and Home Turnover Net Proceeds by and between Debtor and Secured Party. That each agreement or document governing or evidencing the Transaction Documents, all in such forms as may be negotiated, approved, delivered, modified, and amended by the Board of Governors and executed by the Authorized Officers, and/or taking of any such action by an Authorized Officers in connection therewith are hereby approved; That, as security for the obligations of the Corporation arising under or in connection with any Swap Documents, including the taking of any such action, each Authorized Officer, acting singly, be and hereby is, authorized in the name and on behalf of the Corporation to grant a security interest in, transfer, pledge or otherwise hypothecate to the Lender any personal property (including, without limitation, accounts and revenues) belonging to or under the control of the Corporation, and to execute and deliver to the Lender any and all security agreements and collateral documents (including, without limitation, credit support annexes, indentures, account control agreements and financing statements), and such other agreements and documents as the Lender may request in connection with such security or for the perfection thereof (each of the foregoing, a “ Collateral Document”); That each Collateral Document, including, without limitation, any and all schedules, supplements, annexes, exhibits or certificates, and any and all amendments or modifications thereto or restatements thereof, be and hereby is, approved in such form and upon such terms as the Authorized Officer shall approve, such approval to be conclusively evidenced by execution thereof by the Authorized Officer; FURTHER, RESOLVED, that two (2) of the three (3) Authorized Officers be and hereby are authorized, empowered, and directed, in the name of and on behalf of the Corporation, to (i) execute and deliver any and all of the Transaction Documents in the forms and upon such terms as the foregoing shall approve and (ii) to take any and all other action that may be necessary, appropriate, or 1. 2. 3. 4.

5/88

expedient in order to accomplish the purposes and intent of the foregoing resolutions.

FURTHER, RESOLVED, that the Corporation hereby ratifies and confirms the acts of its Authorized Officer in executing and delivering all of such Transaction Documents, irrespective of whether such acts were performed before or subsequent to the date of adoption hereof, and the Corporation directs the Officers and employees of the Corporation to perform all of the obligations and undertakings of the Corporation under each and all of such Transaction Documents. FURTHER RESOLVED, that this Action may be executed in several counterparts, each of which so executed shall be deemed to be an original and such counterparts together shall constitute one and the same instrument and notwithstanding their date of execution shall be deemed to be executed on the date written below. The delivery of an executed counterpart copy of this Action by facsimile, telecopy or e-mail shall be deemed to be the equivalent of the delivery of an original executed copy thereof. FURTHER RESOLVED, that Martin P. Slepkow as President, Jonathan P. Nelson as Treasurer, and Jeffrey Stanfield, 2 nd Vice President shall be the authorized signatories for the Loan Documents, but that any of the officers on the attached incumbency certificate may execute the Loan Documents in each of their stead if either Signatory is unavailable or unable to do so at the time of closing. FURTHER RESOLVED, that this Action shall be effective as of the 19 th day of June, 2019 I CERTIFY that there is no provision in the Articles of Incorporation or By- laws of the Corporation limiting the power of the Board of Governors to pass the foregoing resolutions, and that the same are in conformity with the provisions of said Articles of Incorporation and By-laws. I FURTHER CERTIFY that each of the persons named below presently holds the office in the Corporation set forth next to such person's name and that next to the specification of the office held by each such person is a genuine specimen of such person's signature.

INCUMBENCY CERTIFICATE

NAME

TITLE

SIGNATURE

Martin P. Slepkow President Jonathan P. Nelson Treasurer Jeffrey Stanfield

2 nd Vice President

NOW, THEREFORE, the Board of Governors has approved the foregoing resolutions by a vote of 14 to 0 (14 in favor; none opposed and no abstentions) at a properly noticed Board of Governors Meeting at which a quorum was present, held on the 19 th day of June, 2019 (A copy of the notice, agenda, and minutes of such meeting are attached hereto as composite Exhibit “D”).

_______________________________ Jeffrey S. Glazer, Secretary

Mr. Handler seconded the motion and the motion carried unanimously.

6/88

CLUBHOUSE CONSTRUCTION PROJECT AD HOC COMMITTEE: Mr. Stanfield, Chair of the Ad Hoc Committee, reported that the preconstruction services, auditor and landscape/hardscape design contracts have been approved by the committee. He further reported that the committee formally selected Glidden/Spina as the architect of record and is in the final stages of negotiations on that contract. Mr. Stanfield then reported that a question arose regarding commercial licensing requirements for designers/decorators in the State of Florida and stated that efforts are being made to resolve this matter with Pembrooke & Ives. If the matter cannot be resolved then negotiations will proceed with the second choice designer/decorator Clive Daniel. EXECUTIVE DIRECTOR’S REPORT: Mr. Goswami, Executive Director, reported on the overall operations of the Club, various items in his written report. He then provided an update on the status of the north golf course project to repair the collars, bunkers and tees and the replacement efforts for the executive chef position. PRIVATE PARTY REQUESTS: Mr. Goswami presented ten (10) private party requests for review and approval. After discussion, Mr. Spitalny made a motion “to approve the ten (10) new private party requests, as submitted.” Mr. Bernstein seconded the motion and the motion passed unanimously. NEW MEMBERSHIPS: The following five (5) new membership applications were submitted for perusal: (1) Michael & Roslyn Nissman (3326 Degas Drive), (2) Dale & Janet Steinback (13590 Verde Drive), (3) Randall Lindquist (3651 Toulouse Drive), (4) Lawrence & Hope Kessler (13324 Verdun Drive), (5) Stephen & Patricia Ackerman (13789 Le Harve Drive). SEPTEMBER BOARD MEETING: Mr. Slepkow reported the next Board meeting to be held on Thursday, September 19, 2019, at 11:00 a.m. A notice will be sent to the community advising of the meeting. WATERFRONT COMMITTEE: Mr. Polselli stated that a Waterfront Committee will be appointed in accordance with the waterfront homeowners’ agreement. Meetings will be scheduled in the fall to address waterfront matters. GOLF CART SAFETY AD HOC COMMITTEE: Mr. Barham, Chair of the Ad Hoc Committee, reported that a committee has been appointed and the first meeting will be held in the fall. Safety recommendations will be presented to the Board at a future meeting.

EXECUTIVE SESSION: The Board went into executive session at 1:44 p.m. to discuss legal and collection matters. The Board adjourned executive session at 2:00 p.m.

BUDGET REVIEW SUBCOMMITTEE: Mr. Selzer reported on continued efforts of the subcommittee to review the operating budgets with the goal of reducing costs without compromising member services. He stated that Mr. Konigsberg, Chair of the Subcommittee, is in the process of preparing a report, which will be presented to the Board at a future meeting.

7/88

POA MATTERS: Mr. Polselli reported on various POA matters and clarified security issues raised early in this meeting.

ADJOURNMENT: There being no further business, Mr. Nelson made a motion “to adjourn the meeting at 2:18 p.m.” Mr. Golber seconded the motion and the motion carried unanimously.

Respectfully submitted, Jeffrey Glazer, Secretary

8/88

FINANCIAL STATEMENTS

June 2019

9/88

Frenchman’s Creek Financial Overview as of June 2019 2nd Month of the Fiscal Year Fiscal Year End April 30, 2020

The community has a positive variance compared to budget of $39k; the club income being favorable to budget by $5k with the POA favorable to budget by $34k. While overall results for the first two months are positive, management continues to closely monitor all financial results including overhead and departmental operating expenses. The new fiscal year is off to a strong start with nine new members closing on homes through the end of June. There are an additional five pending new member sales scheduled through September.

Fiscal Year 19/20 Actual

Fiscal Year 19/20 Budget

Variance

$1,000s

Club Income/(Loss) POA Income/(Loss) Total Income/(Loss)

$361 ($2) $359

$356 ($35) $321

$5

$34 $39

Home Sales

Home Sales

Total Sales New Members

In-House

Last Fiscal Year New

Closed as of 06/30/19

11

9

2

3

Pending

6

5

1

6

Total

17

14

3

9

This fiscal year, fourteen (14) capital producing home sales were budgeted. The three (3) year average of equity producing home sales is twenty-one (21) homes per year. 10/88

Frenchman's Creek, Inc. Capital Fund Balance Forecast 2019 -2020

2019-20

2020-21

Beginning Balance, May 1, 2019

3,258,599 1,610,000

2,807,512 Beginning Balance, May 1, 2020

Equity Transactions (14), net

1,610,000 Projected Equity (14), net

Home Turn Tranche (7) ●

(805,000)

(805,000) Home Turn Tranche (7) ●

$200 Monthly Capital Assessment

1,460,400

1,460,400 $200 Monthly Capital Assessment

2019/2020 Club Capital Budget

(2,128,000)

(1,750,000) 2019/2020 Capital Budget Estimate

2019/2020 Board Approved Additions

(300,000)

(300,000) 2019/2020 Board Approved

2018/2019 Carry Forward

(297,000)

0

Interest

8,513

8,513 Interest

Balance, April 30, 2019

$2,807,512

$3,031,425 Forecast Balance, April 30, 2021

 First 7 home sales pledged to Wells Fargo each year for the life of the loan.

11/88

Frenchman's Creek Summary Statement Of Operations

Jun-19

Year To Date

Jun-19

Budget

Jun-18

Var to Bud

Jun-19

Budget

Jun-18

Var to Bud

%

%

%

%

%

%

3,847,445

3,854,338

3,778,441

1,792,722

1,793,982

1,776,985

Total Club Revenue

(1,260)

(6,893)

FCC

2,932,668 23,773 167,742 2,788,699

2,837,002 29,418 158,826 2,707,594

Recreational Fee Other Income

2,935,879 25,645 164,251 2,797,273

1,418,501

1,467,940

1,466,334

100.0% 3,211 1.0% 1,872 5.6% 3,491 95.4% 8,574

100.0%

100.0% 1,606 1.2% (1,243)

100.0%

100.0%

100.0%

10,568 83,466

11,811 83,075

17,025 79,540

0.7% 5.7%

0.8% 5.7%

0.9% 5.6%

0.8% 5.7%

Expenses

5.6%

(391)

1,395,041

1,395,070

1,355,985

Net Income/(Loss)

95.0%

95.1%

95.6%

(29)

95.3%

95.1%

Golf Operations

69,082 28,022 84,147 16,615

64,619 24,810 97,584 15,100

Revenue

60,397 20,915 89,397 28,233

28,094 9,804 43,892 7,212

25,362 9,704 42,169 7,619

31,098 10,875 38,983 7,249

100.0% (8,685) 38.4% 7,107 151.0% (5,250) 23.4% (11,618)

100.0% 34.6% 148.0% 46.7%

100.0% 40.6% 121.8% 24.1% -86.4%

100.0% 35.0% 125.4% 23.3% -83.6%

110.7% (5,736) 34.9% 1,171 141.1% (3,186)

100.0% 38.3% 166.3% 30.0%

Cost of Sales

Wages & Benefits

Expenses

23.2%

(370)

Net Income/(Loss)

(78,148) -129.4%

(59,702)

(72,875) -112.8% (18,446)

(32,814) -105.5% (8,120)

(34,129) -134.6%

(26,009)

Golf Shop Revenue Cost of Sales

44,115 32,991 5,627 4,354

47,043 37,527 6,191 3,602

52,654 45,346 8,766 4,272 (5,731)

112,479 94,066 14,880

142,297 115,818 16,378

141,559 128,968 20,634 10,940 (18,983)

100.0% 74.8% 12.8%

100.0% 79.8% 13.2%

100.0% (2,928) 86.1% 4,536

100.0% 83.6% 13.2%

100.0% 81.4% 11.5%

100.0% (29,818) 91.1% 21,752 14.6% 1,498 7.7% 1,456 -13.4% (5,112) 100.0% (4,313) 325.2% (1,648) 166.2% (2,219)

Wages & Benefits

16.6%

564

Expenses

8,438

9,894

7.5% -4.4%

7.0% 0.1%

7.7% -0.6%

8.1%

(752)

9.9% 2.6%

207

Net Income/(Loss)

(4,905)

1,143

(277)

-10.9% 1,420

Caddie Revenue

3,503

2,152 6,999 3,576

(810) 100.0% 902 -111.4% 2,219 -274.0% (3,931) 485.4%

628

240

628

100.0% -21.3%

100.0%

100.0%

(388)

100.0%

- -

- -

- -

Wages & Benefits

(746)

0.0% 0.0%

0.0% 0.0%

0.0% 0.0%

- -

Expenses

-

0.0%

Net Income/(Loss)

240

628

628

4,249

(8,423) -391.4% (8,180)

100.0%

100.0%

(388)

121.3%

100.0%

Cart & Range Locker Rooms

21,763 37,277 211,045

16,683 39,586 220,988

28,119 35,640 257,069

51,225 78,976 443,793

38,914 87,288 461,027

52,964 75,878 500,808

1.2% 2.1%

0.9% 2.2%

1.3% 2.1%

1.6% (5,080) 2.0% 2,309 14.3% 9,943

1.0% 2.3%

1.4% (12,311) 2.0% 8,312 13.0% 17,234

Golf Course Maint.

11.8%

12.3%

11.5%

12.0%

(302,831)

(302,915)

(358,743)

Total Golf Operation

(660,978)

(642,475)

(729,931)

-16.9%

-16.9%

-20.2%

84

-17.2%

-16.7%

-19.0% (18,503)

Tennis Revenue

231

187

352

783

574

706

100.0%

100.0%

100.0%

44

100.0%

100.0%

100.0%

209

20,993 3,728

21,095 4,705

21,809 4,187

Wages & Benefits

46,365 10,320

44,241 9,147

46,397 7,279

1.2% 0.2% -1.4%

1.2% 0.3% -1.4%

1.2% 0.2%

102 977

1.2% 0.3% -1.5%

1.1% 0.2% -1.4%

1.2% (2,124) 0.2% (1,173) -1.4% (3,088)

Expenses

(24,490)

(25,613)

(25,644)

Net Income/(Loss)

(55,902)

(52,814)

(52,970)

-1.4% 1,123

Fitness Revenue

45,843 32,400 40,568

37,205 33,159 44,413

15,525 15,219 18,942

10,196 13,193 19,928

9,999 18,478 20,704

38,807 41,191 43,076

100.0%

100.0%

100.0% 5,329 1.0% (2,026)

100.0%

100.0%

100.0% 8,638

Wages & Benefits

0.8% 1.1% -1.0%

0.7% 1.1% -1.3%

0.8% 1.1% -0.7%

0.9% 1.2% -1.0%

1.1%

759

Expenses

1.2%

986

1.1% 3,845 -1.2% 13,242

(18,637)

(22,925)

(29,183)

Net Income/(Loss)

(27,125)

(40,367)

(45,459)

-1.6% 4,288

12/88

Frenchman's Creek Summary Statement Of Operations

Jun-19

Year To Date

Jun-19

Budget

Jun-18

Var to Bud

Jun-19

Budget

Jun-18

Var to Bud

%

%

%

%

%

%

Main Club F&B Revenue

84,345 14,654 102,812 201,810 61,778 11,058 224,497 58,326 (153,849)

80,652 9,509 105,692 195,853 58,231 232,473 39,226 (139,837) 5,760

94,226 14,608 104,798 213,632 68,339 245,170 43,949 (153,257) 9,431

Food

305,641 64,717 214,805 585,163 203,223 29,144 547,335 131,745 (326,285)

307,596 45,085 214,764 567,445 210,737 24,570 551,036 100,350 (319,248)

298,696 50,578 210,495 559,770 210,151 32,349 570,564 101,187 (354,480)

41.8%

41.2%

44.1% 3,693 6.8% 5,145 49.1% (2,880) 100.0% 5,957 72.5% (3,547) 64.6% (5,298) 114.8% 7,976 20.6% (19,100) -71.7% (14,012)

53.4% (1,955) 9.0% 19,632

52.2% 11.1% 36.7% 100.0% 66.5% 45.0% 93.5% 22.5% -55.8%

54.2%

Beverage

7.3%

4.9%

7.9%

Service Charge & Other

50.9% 100.0% 73.2% 75.5% 111.2% 28.9% -76.2%

54.0% 100.0% 72.2% 60.6% 118.7% 20.0% -71.4%

37.8% 100.0% 68.5% 54.5% 97.1% 17.7% -56.3%

37.6%

41

Total Revenue

100.0% 17,718 70.4% 7,514 64.0% (4,574) 101.9% 3,701 18.1% (31,395) -63.3% (7,037)

Cost of Goods Food Cost of Goods Beverage

Wages & Benefits

Expenses

Net Income/(Loss)

Beach Club F&B Revenue

22,135 4,797 26,932 18,916 1,705 27,911 6,726 -

25,430 5,402 30,832 17,801 2,863 33,317 7,200 -

30,027 6,075 36,101 18,354 2,007 25,032 7,895 -

Food

68,948 13,119 82,067 49,329 4,574 73,194 14,057 -

63,746 14,045 77,791 43,473 5,802 88,441 16,100 -

85,640 18,767

82.2% 17.8%

82.5% 17.5%

0.0% (3,295)

84.0% 16.0%

81.9% 18.1%

82.0% 5,202

Beverage

18.0%

(926)

0.0% 0.0%

(605)

Other

-

0.0%

0.0%

-

0.0%

0.0%

0.0%

-

Total Revenue

104,407 52,963 7,690 74,883 17,138 (48,268)

100.0% 71.5% 34.9% 89.2% 17.1% -72.0%

100.0% 68.2% 41.3% 113.7% 20.7% -97.7%

100.0% 4,276 61.8% (5,856) 41.0% 1,228 71.7% 15,247 16.4% 2,043 -46.2% 16,939

100.0% 70.0% 53.0% 108.1% 23.4% -98.4%

0.0% (3,900) 0.0% (1,115) 0.0% 1,158 0.0% 5,406

100.0% 85.5% 35.5% 103.6% 25.0%

Cost of Goods Food Cost of Goods Beverage

Wages & Benefits

Expenses

0.0%

474

Net Income/(Loss)

(59,086)

(76,025)

(17,187)

(28,326) -105.2%

(30,349)

0.0% 2,023

(182,175)

(170,186)

(170,444)

Total F&B Operation

(385,371)

(395,273)

(402,748)

-79.6%

-75.1%

-68.3% (11,989)

-57.8%

-61.3%

-60.6% 9,902

Overhead Departments Beach Club Facility

57,518 20,667 88,289 53,441 93,487 119,946 50,411 483,758 16,771 51,711 28,485 5,140 8,703 110,810

159,922 53,508 188,665 109,421 215,425 263,850 91,972 31,150 107,527 53,165 11,818 20,678 224,339 1,082,762

164,197 49,547 217,287 103,600 200,825 240,604 97,847 31,416 105,576 60,100 14,750 16,186 228,028 1,073,907

146,533 52,010 193,900 107,583 220,801 238,996 98,702 37,433 108,444 60,243 11,840 17,828 235,788 1,058,526

68,756 20,414 87,117 53,599 90,997 126,153 39,732 486,769 13,736 50,486 24,556 3,284 10,449 102,512

70,736 18,616 104,650 54,300 88,089 117,221 42,104 495,716 12,949 47,008 28,400 5,500 8,032 101,889

3.2% 1,980 1.2% (1,798) 4.9% 17,533 5.2% (2,908) 6.7% (8,932) 2.8% 2,372 27.0% 8,947 3.0% 701

4.2% 1.4% 4.9% 2.8% 5.6% 6.9% 2.4%

4.3% 1.3% 5.6% 2.7% 5.2% 6.2% 2.5%

3.8% 4,275 1.3% (3,961) 5.0% 28,622 2.8% (5,821) 5.7% (14,600) 6.2% (23,246) 2.6% 5,875 27.5% (8,855)

3.8% 1.1% 4.9% 3.0% 5.1% 7.0% 2.2%

3.9% 1.0% 5.8% 3.0% 4.9% 6.5% 2.3%

Valet

Engineering

Utilities

Housekeeping Administration Accounting

Total Overhead Expenses

27.2%

27.6%

28.1%

27.9%

Member Services Wages & Benefits

0.8% 2.8% 1.4% 0.2% 0.6% 5.7%

0.7% 2.6% 1.6% 0.3% 0.4% 5.7%

0.9%

(787)

0.8% 2.8% 1.4% 0.3% 0.5% 5.8%

0.8% 2.7% 1.6% 0.4% 0.4% 5.9%

1.0%

266

Gratis Items

2.9% (3,478) 1.6% 3,844 0.3% 2,216 0.5% (2,417)

2.8% (1,951) 1.6% 6,935 0.3% 2,932 0.5% (4,492) 6.1% 3,689

Continental Breakfast Music/Entertainment/Décor

Other

Total Member Services

6.2%

(623)

277,628

275,826

177,404

Club Net Income/(Loss)

360,796

355,835

182,172

15.5%

15.4%

9.9% 1,802

9.4%

9.2%

4.7% 4,961

13/88

Frenchman's Creek Summary Statement Of Operations

Jun-19

Year To Date

Jun-19

Budget

Jun-18

Var to Bud

Jun-19

Budget

Jun-18

Var to Bud

%

%

%

%

%

%

Property Owners Association

2,264,826

2,268,376

2,254,981

1,122,633

1,136,663

1,128,615

Total POA Revenue

(3,550)

(14,030)

POA

1,101,058

1,100,963

1,089,514

Maintenance Fees

2,202,116 21,345 4,666 176,868 2,041,928

2,201,926 21,700 4,666 176,868 2,042,092

2,179,028 34,714 3,332 186,592 2,023,817

100.0%

100.0%

100.0%

95

100.0%

100.0%

100.0%

190

11,983 1,666 93,296

Other Income

8,955 2,333 88,434

10,850 2,333 88,434

0.8% 0.2% 8.0%

1.0% 0.2% 8.0%

1.1% (1,895)

1.0% 0.2% 8.0%

1.0% 0.2% 8.0%

1.6% 0.2% 8.6%

(355)

Bad Debt Reserves

- -

0.2% 8.6%

- -

Net Income/(Loss)

1,006,535

1,019,246

1,021,046

91.4%

(164)

91.8%

91.8%

91.8%

91.4% (1,800)

91.8%

Home Sevices

Revenue

41,364 10,656 21,818

44,750 31,244 17,000 (3,494)

41,240 24,742 20,675 (4,177)

27,118 13,688 13,433

12,620 6,180 8,888 (2,448)

24,850 15,322 10,000

100.0% 25.8% 52.7% 21.5%

100.0% 69.8% 38.0%

100.0% (3,386) 60.0% 20,588 50.1% (4,818) -10.1% 12,384

100.0% 61.7% 40.2%

100.0% (12,230) 50.5% 9,142 49.5% 1,112 0.0% (1,976)

100.0% 49.0% 70.4% -19.4%

Wages & Benefits

Expenses

Net Income/(Loss)

8,890

(472)

(3)

-7.8%

-1.9%

Overhead

185,312 664,866 137,578 987,755

191,871 657,616 130,939 980,426

206,545 589,062 129,838 925,445

Administration Common Areas Home Maintenance

387,971 1,274,441 323,795 1,986,207

403,949 1,269,657 313,378 1,986,984

427,415 1,130,176 243,079 1,800,670

16.5% 59.2% 12.3% 88.0%

16.9% 57.9% 11.5% 86.3%

18.3% 6,559 52.2% (7,250) 11.5% (6,639) 82.0% (7,329)

17.1% 56.3% 14.3% 87.7%

17.8% 56.0% 13.8% 87.6%

19.0% 15,978 50.1% (4,784) 10.8% (10,417)

Total Overhead Expense

79.9%

777

Realty

8,363 24,843 21,543

5,500 26,536 27,571

5,558 18,173 21,535

Rental Income/Marketing Fee

24,349 52,595 37,881

5,500 56,459 35,879

6,155 39,612 43,095

0.7% 2.2% 1.9% -3.4%

0.5% 2.3% 2.4% -4.3%

0.5% 2,863 1.6% 1,693

1.1% 2.3% 1.7% -2.9%

0.2% 2.5% 1.6% -3.8%

0.3% 18,849 1.8% 3,864

Wages & Benefits

Expenses

6,028

(2,002)

1.9%

1.9%

(38,023)

(48,607)

(34,151)

Net Income/(Loss)

(66,127)

(86,838)

(76,553)

-3.0% 10,584

-3.4% 20,711

(8,980)

(8,459)

46,936

POA Income/(Loss)

(1,516)

(35,224)

142,418

-0.8%

-0.7%

4.2%

(521)

-0.1%

-1.6%

6.3% 33,708

320,611

324,591

268,648

267,367

224,340

7.7% 1,281 Total Community Profit/(Loss)

359,280

9.2%

9.1%

5.9%

5.2%

5.4% 38,669

Below the Line Depreciation

(374,133)

(363,289)

(368,613)

(737,423)

- -

(726,579)

-

-

-

Gain/(Loss) on Sale of Assets

-

-

(105,485)

(95,922)

(144,273)

Net Profit/(Loss)

(378,142)

320,611

(401,988)

Footnote: Major POA Contract Data: 120,500

122,808 170,101 189,826

118,193 163,092 180,888

Hotwire Cable/Home Security

239,655 367,648 376,527

245,616 356,371 379,652

236,386 322,761 361,777

2,308

5,961

184,790 186,197

Security

(14,689)

(11,277)

Elegant Landscaping

3,629

3,125

14/88

Frenchman's Creek Summary Statement Of Operations

Jun-19

Year To Date

Jun-19

Budget

Jun-18

Var to Bud

Jun-19

Budget

Jun-18

Var to Bud

%

%

%

%

%

%

Condensed Summary Total Club Revenue

1,792,722

1,793,982

1,776,985

(1,260)

3,847,445

3,854,338

3,778,441

(6,893)

1,395,041

1,395,070

1,355,985

(29)

FCC

2,797,273

2,788,699

2,707,594

8,574

(34,129)

(26,009)

(32,814) (5,731) (28,119) (35,640) (257,069) (358,743) 628

(8,120) 1,420 (5,080)

Golf Operations

(78,148) (4,905) (51,225) (3,931) (78,976) (443,793) (660,978)

(59,702)

(72,875) (18,983) (52,964) (8,423) (75,878) (500,808) (729,931)

(18,446) (5,112) (12,311) (8,180) 8,312 17,234 (18,503)

1,143

(277)

Golf Shop

207

(21,763)

(16,683)

Cart & Range

(38,914)

240

628

(388)

Caddie

4,249

(37,277) (211,045) (302,831)

(39,586) (220,988) (302,915)

2,309 9,943

Locker Rooms Golf Course Maint. Total Golf Operation

(87,288) (461,027) (642,475)

84

(24,490)

(25,613)

(25,644)

1,123

Tennis

(55,902)

(52,814)

(52,970)

(3,088)

(18,637)

(22,925)

(29,183)

4,288

Fitness

(27,125)

(40,367)

(45,459)

13,242

(153,849) (28,326) (182,175) (68,756) (20,414) (87,117) (53,599) (90,997) (126,153) (39,732) (102,512) (589,281)

(139,837) (30,349) (170,186) (70,736) (18,616) (104,650) (54,300) (88,089) (117,221) (42,104) (101,889) (597,605)

(153,257) (17,187) (170,444) (57,518) (20,667) (88,289) (53,441) (93,487) (119,946) (50,411) (110,810) (594,568)

(14,012)

Main Club F&B Beach Club F&B

(326,285) (59,086) (385,371) (159,922) (53,508) (188,665) (109,421) (215,425) (263,850) (91,972) (224,339) (1,307,101)

(319,248) (76,025) (395,273) (164,197) (49,547) (217,287) (103,600) (200,825) (240,604) (97,847) (228,028) (1,301,935)

(354,480) (48,268) (402,748) (146,533) (52,010) (193,900) (107,583) (220,801) (238,996) (98,702) (235,788) (1,294,314)

(7,037) 16,939

2,023

(11,989)

Total F&B Operation

9,902

1,980 (1,798) 17,533 (2,908) (8,932) 2,372 701

Beach Club Facility

4,275 (3,961) 28,622 (5,821) (14,600) (23,246) 5,875 3,689 (5,166)

Valet

Engineering

Utilities

Housekeeping Administration Accounting Member Services

(623)

8,324

Total Overhead Expenses

(1,117,413)

(1,119,244)

(1,178,582)

1,831

Total Club Expenses

(2,436,477)

(2,432,864)

(2,525,422)

(3,613)

277,628

275,826

177,404

1,802

Club Net Income/(Loss)

360,796

355,835

182,172

4,961

Property Owners Association

1,019,246 (990,203) (38,023)

1,021,046 (980,898) (48,607)

1,006,535 (925,448) (34,151)

(1,800) (9,305) 10,584

Total POA Revenue

2,041,928 (1,977,317)

2,042,092 (1,990,478)

2,023,817 (1,804,847)

(164)

Overhead

13,161 20,711 33,708

Realty

(66,127) (1,516)

(86,838) (35,224)

(76,553) 142,418

(8,980)

(8,459)

46,936

(521)

POA Income/(Loss)

268,648

267,367

224,340

1,281 Total Community Profit/(Loss)

359,280

320,611

324,591

38,669

15/88

Frenchman's Creek Food & Beverage Detail

Jun-19 Budget

YTD Year to Date

YTD

Jun-19

Jun-18

Jun-19

Budget

Jun-18

CLUB OCCUPANCY RATE

33.1%

34.8%

43.7%

48.8%

CLUB COVERS MDR Brunch MDR Dinner

- - - -

- - - -

- - - -

322 670 792 452 266

440 365 350 340 1,160 6,286 1,110 1,180

452 354 842 479 751

Grille Lunch Grille Dinner

146

279

19th Hole Breakfast 19th Hole Lunch 19th Hole Dinner Sports Bar Lunch Sports Bar Dinner Pool Snack Bar Private Party Homes Private Party Club TOTAL COVERS FOOD REVENUE Grille Room-Lunch Grille Room-Dinner 19th Hole - Breakfast 19th Hole- Lunch 19th Hole-Dinner Sports Bar Lunch Sports Bar Dinner Pool Snack Bar Private Party Homes Private Party Club TOTAL REVENUE AVERAGE CHECK MDR Brunch Grille Room-Lunch Grille Room-Dinner 19th Hole - Breakfast 19th Hole- Lunch 19th Hole-Dinner Sports Bar Lunch Sports Bar Dinner Pool Snack Bar Private Party Homes Private Party Club Take Out MDR Brunch MDR Dinner Takeout MDR Dinner Takeout

103

2,620

2,961

6,489 1,894 1,024

6,840 1,673 1,131

2,432

950 444

-

571 458

568

-

5

4

33

45

40

1,072

1,731

1,601

3,397

4,686

4,035

146

60

138

387 144 486

202 145 440

261 188 638

27 93

-

58

100

122

5,267

5,230

6,192

16,356

16,749

17,684

$ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $

- - - -

$ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $

- - - -

$ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $

- - - -

$ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $

7,467 26,456 10,334 15,722 1,635 85,589 31,950 26,452 50,663 4,766 6,787 37,138 305,643 684

$ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $

9,262 16,352 13,920 14,637 1,989 77,318 18,759 30,803 78,022 2,424 8,990 34,500 307,596 620

$ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $

7,235 9,088 10,416 18,796 1,504 86,934 25,315 29,953 61,359 3,052 9,910 34,456 298,697 679

644

854

477

34,134 16,743 10,761 17,230 1,818 2,325 84,346 13 678

32,226

36,743 8,562 12,430 24,079 1,697 1,928 8,275 94,227 36

-

13,973

60

28,819

720

-

4,000 80,652

23.19 39.49 13.05 34.78 6.15 13.19 16.87 25.83 20.73 14.91 12.32 16.64 47.13 76.42 18.69

21.05 44.80 12.00 41.82 5.85 12.30 16.90 26.10 13.78 16.65 12.00 16.34 62.00 78.41 18.37

16.01 25.67 12.37 39.24 2.00 12.71 15.13 26.48 16.98 15.21 11.69 15.09 52.71 54.01 16.89

6.25 14.04 17.62 24.24 16.07 12.45 15.80 25.11 25.00 16.01

5.85 12.30 24.60 12.00 16.65 12.00 14.94 40.00 15.42

1.71 12.41 14.99 27.14 9.00 15.04 12.30 13.98 33.24 67.83 15.22

OUTLET AVERAGE CHECK

TOTAL AVERAGE CHECK

16/88

Frenchman's Creek Food & Beverage Detail

Jun-19 Budget

YTD Year to Date

YTD

Jun-19

Jun-18

Jun-19

Budget

Jun-18

BEVERAGE REVENUE

$ $ $ $ $ $ $ $ $ $

- - -

$ $ $ $ $ $ $ $ $ $

- - - -

$ $ $ $ $ $ $ $ $ $

(18)

Lounge

$ $ $ $ $ $ $ $ $ $

465

$ $ $ $ $ $ $ $ $ $

713

$ $ $ $ $ $ $ $ $ $

1,100 2,540 3,264 7,535 22,682

2,943 2,342 5,628 20,525

- -

Main Dining Room

6,851 3,522 9,705 20,157

Grille Room 19th Hole Sports Bar

4,784 6,719

2,931 8,308

5,764

207

72

176

Pool Bar

611 812

242

437 557

-

-

-

Private Party Homes Private Party Club

-

122

800 431

1,922

16,426 3,561 62,110

6,900

5,445 1,029 44,589

2,304 14,136

(192)

Bulk (Net)

869

7,067

13,127

TOTAL BEVERAGE-CLUB

40,162

BEACH CLUB FOOD & BEVERAGE COVERS

615 662

575 641

BC Lunch Covers BC Dinner Covers

1,804 1,299

1,330 1,467

1,239 1,680

626 459

20

22

BC Private Party Covers

-

220

217

-

1,297

1,238

Total Covers

3,103

3,017

3,136

1,085

FOOD REVENUE

$ $ $ $ $ $ $ $

9,091 13,044

$ $ $ $ $ $ $ $

8,149 16,881

$ $ $ $ $ $ $ $

7,898 20,678 1,450 30,026

BC Lunch BC Dinner

$ $ $ $ $ $ $ $

27,026 41,922

$ $ $ $ $ $ $ $

17,980 38,616 7,150 63,746

$ $ $ $ $ $ $ $

17,550 56,046 12,045 85,641

-

400

BC Private Parties

-

22,135

25,430

TOTAL FOOD-BEACH CLUB

68,948

AVERAGE CHECK

14.52 28.42

13.25 25.50 20.00 19.61

13.74 32.26 65.91 24.25

BC Lunch BC Dinner

14.98 32.27

13.52 26.32 32.50 21.13

14.16 33.36 55.51 27.31

BC Private Parties

-

-

20.40

TOTAL AVERAGE CHECK

22.22

BEVERAGE REVENUE

$ $ $

4,797

$ $ $

5,402

$ $ $

5,887

Beach Club

$ $ $

13,119

$ $ $

12,357 1,688 14,045

$ $ $

15,487 3,280 18,767

-

-

188

Beach Club Private Party TOTAL BEVERAGE BC

-

4,797

5,402

6,075

13,119

17/88

Frenchman's Creek Real Estate Activity Report

May 1, 2019 thru April 30, 2020

ACTIVE LISTINGS

as of: 6/30/2019

Houses For Sale

2.97%

Agent\Brokerage

Listings

% of Ttl

Lynn Byrd

Illustrated Properties

6 4 1 1 1 1 1 0 1 0 0 0 0 1 1

33.3% 22.2%

ADDRESS

LIST $

List Date

DOM Agent

Seller

Type

Brokerage

AC/SF $ AC/SF

2 Rosalind Tuck

Scuttina Signature

Kathleen O'Brien

Leibowitz Realty Group Leibowitz Realty Group

1 13852 Degas Drive East 2 13220 Verdun Drive 3 2955 Calais Drive 4 13813 Rivoli Drive 5 13693 Rivoli Drive 6 3394 Degas Drive West

Kanter (L) Ende (D)

PC 1,689,000 $

6/28/2019 6/21/2019 6/18/2019 5/18/2019 5/9/2019 5/3/2019 5/1/2019 5/1/2019 4/26/2019 4/1/2019 3/13/2019 3/7/2019 1/26/2019 1/14/2019 7/28/2018 7/27/2018 5/16/2018 3/21/2017

4,558 2,692 6,236 3,218 3,565 4,096 7,170 3,079 3,418 2,692 6,608 2,692 5,204 4,803 3,325 4,761

371 371 481 225 729 244 544 324 405 555 416 254 572 614 729 461

Lynn Byrd

Illustrated Properties RE/MAX 1st. Choice

Michael & Andrew Leibowitz

PB

$

999,000

9

5.6% 5.6% 5.6% 5.6% 5.6% 0.0% 5.6% 0.0% 0.0% 0.0% 0.0% 5.6% 5.6%

12 Eric Pruitt

Craig & Heather Bretzlaff

The Corcoran Group

Scott

C 2,999,888 $

43 Missy McCloskey

Douglas Elliman

Missy McCloskey

Douglas Elliman

Siegel

VA

$

725,000

Illustrated Properties Illustrated Properties Illustrated Properties

52 Craig & Heather Bretzlaff

The Corcoran Group Illustrated Properties Illustrated Properties Leibowitz Realty Group Leibowitz Realty Group Leibowitz Realty Group Leibowitz Realty Group Illustrated Properties Illustrated Properties Illustrated Properties Illustrated Properties Illustrated Properties One Sotheby's Intl. Realty

Handler (D) Kessler (L) Markowitz

VB 2,599,000 $

Debra Greenberg

Vincent G Marotta

Lynn Byrd

PC

$

999,000

58

60 Debra Greenberg 60 Kathleen O'Brien 65 Kathleen O'Brien

Lynn Byrd and Mary Saxton

7 3200 Monet Drive 8 13789 Parc Drive 9 13351 Verdun Drive 10 3827 Toulouse Drive

C 3,900,000 $

Franck J Prissert

One Sotheby's Intl. Realty RE/MAX Ocean Properties

Myrow

TC

$

999,000

Sam Elias

Miller (L) Halpern

PB 1,385,500 $ PA 1,494,000 $ C 2,750,000 $ C 2,975,000 $ C 2,950,000 $ VB 2,425,000 $ PC 2,195,000 $ PB 685,000 $

90 Michael & Andrew Leibowitz

Jacki Ojakian & Abraham J Kamor

Waterfront Properties

109 Kathleen O'Brien

David Veis & James Torrance

Keller Williams

11 13101 Burgundy Drive S Alcure (P)

Matthew Frank

Premier Brokers International Inc

Lynn Byrd Lynn Byrd Lynn Byrd

12 13765 Le Havre Drive

Siegel

115 155 167

Eric Pruitt

The Holland Group

13 3081 Burgundy Drive N Dolen 14 3221 Burgundy Drive N Leven

Rosalind Tuck

Water Pointe Realty Group

337 Vincent G Marotta

18 100.0%

15 13828 Rivoli Drive 16 13741 Le Havre Drive 17 2075 La Porte Drive 18 3659 Toulouse Drive

Dubin (L)

Total

Lynn Byrd

Lavine

338

410 Franck J Prissert 831 Kathleen O'Brien

Simboli (L) Newman (L)

L

3,500,000 $

L

-

Brokerage

Listings

% of Ttl

Leibowitz Realty Group

Illustrated Properties

PB 1,175,000 $

3,840

306

8 5 1 1 1 1 1

44.4% 27.8%

Leibowitz Realty Group

The Corcoran Group

5.6% 5.6% 5.6% 5.6% 5.6%

Douglas Elliman

One Sotheby's Intl. Realty

RE/MAX 1st. Choice

Scuttina Signature

Total

18

100.0%

ACTIVE LISTINGS

18

AVG 2,024,688

162

4,233

447

PENDING SALES 1 3599 Loire Lane 2 13584 Verde Drive 3 13249 Provence Drive

NEED APP

N N E N N N

5/21/2018 3/29/2019

405 Lynn Byrd

Illustrated Properties

3,143 2,309

285 379 186 262 573 553

7/8/2019 Fisher 7/8/2019 Skolnick 7/15/2019 Golden 7/15/2019 Lieb 7/19/2019 Jacobs 8/15/2019 Handen

Byrd

$ $ $ $ $ $

55,320 75,320 60,320 45,000 55,320 60,320

$ 895,000

Hacker (L)

VB

PA $ 874,900

93 Kathleen O'Brien

Leibowitz Realty Group Leibowitz Realty Group For Sale By Owner The Corcoran Group

O'Brien O'Brien Kamor

Leaf (L) Feig (P)

2,692 3,318 2,748 7,142

90 Michael & Andrew Leibowitz

PA

$

500,000

4/1/2019

4 3639 Loire Lane

Berger (P) Handler (D)

VB $ 870,000 PB $ 1,575,000 C $ 3,950,000

NA

0 For Sale By Owner

5 13330 Deauville Drive 6 2860 Le Bateau Drive

4/11/2018 4/19/2019

445 Craig & Heather Bretzlaff

Bretzlaff

Gushner

72 David Veis & James Torrance

Keller Williams

Rittersbach

$

351,600

TOTAL 6

1,444,150 -AVG

3,559

373

NEW 5

AVG

# Homes for Sale

Avg. Price

Avg. DOM

AC/SF $AC/SF

CUSTOM

5 8 1 3 1

$ $ $ $ $ $

3,114,978 1,327,688 999,000 1,916,333 3,500,000 2,024,688

101 189 144 410 60

6,004 3,594 3,079 3,369

519 369 324 569

PATIO

TOWNHOUSE

VILLA

LOT

-

-

18

(L) - Leaving Community (D) -Developer (P) -Passed

18/88