www.CostaRicaTicas.com

I walked by last night, Aug 5, and the bottom floor was in the process of being gutted/renovated. The word is that they are going to lease the bottom floor to a real estate company. I feel that the time for a RE company to make money in Costa Rica is long passed, but I was wrong once before. Okay, more than once.

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"The only normal people are those you don't know very well." Joe Ancis

I think the real estate that is marketed to Americans, Canadians and Brits is grossly overpriced.

I heard that it would be leased out as retail space. Too bad; the bar and restaurant right on the avenida was the only real attraction the Prez had going for it. Anyone in the hospitality business can tell you that it's close to impossible to make money on food & beverage, but without it, a hotel, resort or country club couldn't stay in business. So you take the loss (or opportunity cost of leasing it out) in order to keep customers happy. Bye bye Prez!

I think leasing out the space for retail is a very good business plan. Some of the most expensive rental space in on the Avenue. They can make more money leasing then they were making in the restaurant without the expenses. They will have another restaurant on the second floor for guest that need a restaurant on site. Most people staying there only want breakfast anywhere and then venture out into the city. Now they will have guarantee of money each and every month without the headaches of having help. Good move Presidente.

Retail space makes sense.

if you enter into the reception area/lobby you will find a little cafe restaurant

The News Cafe space will be rented to one of the new competing Cell Phone Companies coming to Costa Rica. The cafe near the Lobby looks nice. They have a limited but adequate menu for breakfast, lunch, and dinner and of course drinks. Great place to sit and talk. Also in the future another restaurant on second floor for dining.

I'm mainly lamenting the loss of the News Cafe as it was a great place to smoke cigars, drink good coffee and people watch. My other main spot was the NYB, for beers, cigars and people watching on the little balcony. I miss both dearly.

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Man I'm living life like a great white shark swimming with minnows! It's all about panocha, great scotch, fine cigars, loud-ass rock music and speed, speed, speed - plus spending as much time as possible in paradise on earth, Costa Rica!