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Friday, August 29, 2008

The Curry House - Key West - For Sale





Just Listed: The Curry House Key West. No, not The Curry Mansion. The names sound similar, but the inns are quite different. CLICK HERE to read all about the historic Curry Mansion. It is located just off Duval on Caroline Street near one of the loudest locations in Old Town.

The Curry House, on the other hand, is located just far enough from Duval at 806 Fleming Street to be convenient, but not burdened by the noise and commotion. CLICK HERE to view the website of The Curry House.

This is how the listing realtor describes this listing. "Boasting classic Old Town Key West charm, the historic Curry House Bed and Breakfast offers a unique opportunity to own one of the few B&B's with a commercial kitchen to provide hot meals to guests. Built in 1889, this charming three-story house has 9 guest rooms, wrap-around porches, private verandas, parlor and spacious rear patio opening onto the large heated pool and gardens. Rooms feature hardwood floors, Dade county pine, refrigerators, cable TV, phone, wireless internet, A/C and ceiling fans. Located 3 blocks to Duval Street and the Historic Seaport, this alluring B&B welcomes gratified guests year after year. 8 transient licenses and managers unit. Turn-key operation."
CLICK HERE for more info and more photos of The Curry House.

A couple of weeks ago I wrote about the sale of The Artist House guest house (CLICK HERE). Re-read that blog for more information on transient license issues on guest houses in Key West. The Curry House is listed for sale at $3,200,000 (that is $400,000 per licensed room!). The Artist House sold on August 15,2008 for $355,000 per room.

I used to own a guest house, and I know the business. That is why I am perplexed by the asking prices of all the guest houses listed for sale in Key West at this time. CLICK HERE to see the guest houses currently available for purchase. In my opinion a guest house is a business. Anyone who buys a business expects to make money and have it be profitable. I do not think any of the properties on the list above can justify the asking price. But that is just my opinion. People who buy guest houses are buying jobs and buying a lifestyle. They are buying into the idea of being like Bob Newhart, operating an inn, and living in Paradise. If only life were that simple.

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The information on this site is for discussion purposes only. Under no circumstances does this information constitute a recommendation to buy or sell securities, assets, real estate, or otherwise. Information has not been verified, is not guaranteed, and is subject to change.

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Gary Thomas in a Nutshell

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Key West, Florida, United States
I first read about Key West in a magazine called "After Dark" sometime in the mid 1970's. But it wasn't until March 1984 that I made my first visit to the island that would become my home. I had two weeks for a vacation and reserved a room at Colours Guesthouse (now Marrero's Guest House) for one week. I thought that if I didn't like Key West, I could always go back to Miami or Ft. Lauderdale for the rest of my trip. But after a couple of days in Key West, that was no longer a consideration. But when I wanted to extend my stay for the extra week I found there was no room at the inn. The guesthouse owner did find me a room at LaTeDa, the infamous guesthouse/restaurant. That's a story I'll write another day. But those two weeks in Key West gave me the realization that I had found Paradise. Key West has been my home since 1993 and my only regret is that it took me so long to get here. I am a full time Realtor at Preferred Properties CRI. Let me help you find your new home or business in Paradise. Living in Paradise is not a slogan, it's a way of life.