NJ Mega Millions winner buys shuttered Daytona Beach resort
An old Nj man who hit an astounding $533 million Mega Millions jackpot has plunked his fortune to purchase a padlocked 239-room seaside resort in Daytona Beach.
Richard Wahl, 49, who since his big win now calls sunny Sarasota home, bought the shuttered La Playa Resort & Suites in an April auction for $13.six million, the Daytona Beach News-Journal reported.
“I have no idea just how much research he’s done. It will likely be interesting to determine how achievable it’s,” Tim Davis, an agent with SVN Alliance Real Estate Advisors, told the newspaper.
The nine-story resort, opened up in 1975, was offered to Summit Hospitality for $9 million in 2016 — just several weeks before Hurricane Matthew caused severe harm to the home and stored it shuttered.
Wahl aims to transform it into a vacation timeshare resort, the opening reported.
Davis, who believed it might cost another $24 million to renovate the accommodation, stated it had been still cheaper to purchase it and repair it rather than tear it lower and make a replacement.
Wahl, who resided in Vernon, NJ, stated this past year it had become “God’s plan” for him hitting the Mega Millions jackpot having a ticket he bought in Rivedale.
He opted to consider a lump-sum payout of $324.six million, which left him with $220.seven million after condition and federal taxes — ample to purchase their own sunny beach resort.
“This isn’t existence-altering for me personally,” he stated at that time. “It’s humbling. We’re and not the type who are likely to go out and spend all that money.”
Wahl couldn’t immediately be arrived at.
A version of this story originally appeared here.
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