MIAMI -- ResidenSea completed the sale of its ship, the World, as
well as the unsold inventory of apartment residences onboard the
ship, to the ship's current residence owners.
The sale price was not disclosed.
The ship's Residents Committee appointed James St. John III as
the managing director of the new company, which is calling itself
The World of ResidenSea II Ltd.
Meanwhile, ResidenSea president Robert Riley resigned, effective
Oct. 29.
The sale of the ship spurred an uptick in apartment purchases,
according to a statement from ResidenSea.
The company recorded an increase in the sale of its apartment
inventory since the transaction was announced -- 85% of the 110
two- and three-bedroom units have been sold and 36% of the ship's
89 studio and one-bedroom units have been purchased.
A ResidenSea spokeswoman said that the company will continue to
work with travel agents.
To contact reporter Rebecca Tobin, send e-mail to [email protected].